Gerdau (NYSE:GGB) Earns Neutral Rating from Bank of America

Gerdau (NYSE:GGB - Get Free Report)'s stock had its "neutral" rating reiterated by research analysts at Bank of America in a research note issued to investors on Monday, Marketbeat.com reports.

Separately, UBS Group assumed coverage on Gerdau in a report on Wednesday, March 12th. They set a "neutral" rating on the stock.

Gerdau Stock Up 1.4 %

Shares of NYSE GGB traded up $0.04 during trading on Monday, reaching $2.47. The company had a trading volume of 10,701,561 shares, compared to its average volume of 9,420,569. The stock has a market cap of $5.12 billion, a PE ratio of 5.73 and a beta of 1.37. The company has a quick ratio of 1.53, a current ratio of 2.98 and a debt-to-equity ratio of 0.21. Gerdau has a 12-month low of $2.27 and a 12-month high of $4.04. The business's 50-day moving average is $2.86 and its 200 day moving average is $3.08.

Gerdau (NYSE:GGB - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. The firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.66 billion. Gerdau had a net margin of 7.03% and a return on equity of 7.74%. As a group, equities analysts forecast that Gerdau will post 0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gerdau

Several large investors have recently made changes to their positions in GGB. Private Advisor Group LLC acquired a new position in Gerdau in the 4th quarter valued at $32,000. Wealthfront Advisers LLC purchased a new stake in shares of Gerdau in the 4th quarter valued at approximately $32,000. Zhang Financial LLC acquired a new position in Gerdau during the fourth quarter worth $34,000. R Squared Ltd acquired a new position in Gerdau in the 4th quarter valued at about $36,000. Finally, Rehmann Capital Advisory Group purchased a new stake in Gerdau during the 3rd quarter worth approximately $37,000. 1.49% of the stock is currently owned by institutional investors and hedge funds.

About Gerdau

Gerdau SA, together with its subsidiaries, operates as a steel producer company. The company operates through Brazil Business, North America Business, South America Business, and Special Steel Business segments. It also provides semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles to the construction and manufacturing industries; drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire mesh, nails, and clamps for manufacturing, construction, and agricultural industries; and special steel products used in auto parts, light and heavy vehicles, and agricultural machinery, as well as in the oil and gas, wind energy, machinery and equipment, mining and rail, and other markets.