UBS Group Has Lowered Expectations for Gerdau (NYSE:GGB) Stock Price

Gerdau (NYSE:GGB - Get Free Report) had its target price lowered by analysts at UBS Group from $3.30 to $2.90 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the basic materials company's stock. UBS Group's price objective points to a potential upside of 10.48% from the company's current price.

Separately, Bank of America reissued a "neutral" rating on shares of Gerdau in a research note on Monday, April 7th.

Gerdau Stock Performance

NYSE:GGB traded up $0.04 during trading hours on Wednesday, reaching $2.63. 7,583,062 shares of the company's stock were exchanged, compared to its average volume of 9,306,751. The company has a quick ratio of 1.53, a current ratio of 2.98 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of 6.10 and a beta of 1.37. Gerdau has a 1-year low of $2.27 and a 1-year high of $4.04. The company has a 50-day moving average of $2.75 and a 200 day moving average of $2.99.

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

Institutional Trading of Gerdau

A number of institutional investors have recently modified their holdings of GGB. Carrhae Capital LLP acquired a new stake in Gerdau in the first quarter valued at $18,655,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Gerdau by 147.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 392,274 shares of the basic materials company's stock valued at $1,114,000 after purchasing an additional 234,015 shares in the last quarter. Sigma Planning Corp acquired a new stake in shares of Gerdau in the first quarter valued at about $46,000. Xponance Inc. purchased a new stake in Gerdau during the first quarter worth about $40,000. Finally, BSW Wealth Partners grew its position in Gerdau by 41.5% during the first quarter. BSW Wealth Partners now owns 69,395 shares of the basic materials company's stock worth $197,000 after buying an additional 20,351 shares during the period. 1.49% of the stock is currently owned by hedge funds and other institutional investors.

Gerdau Company Profile

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.