Radius Recycling (NASDAQ:RDUS) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Radius Recycling (NASDAQ:RDUS) from a sell rating to a hold rating in a research note published on Friday morning.

Separately, Seaport Res Ptn raised shares of Radius Recycling from a strong sell rating to a hold rating in a research report on Thursday, May 30th.

Radius Recycling Stock Performance

Shares of RDUS stock opened at $19.05 on Friday. Radius Recycling has a 52 week low of $12.69 and a 52 week high of $31.70. The company has a market capitalization of $534.16 million, a price-to-earnings ratio of -1.96 and a beta of 1.52. The company has a 50-day simple moving average of $15.87 and a 200 day simple moving average of $16.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.92 and a current ratio of 1.96.

Radius Recycling (NASDAQ:RDUS) last announced its earnings results on Tuesday, July 2nd. The basic materials company reported ($0.59) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.07. The company had revenue of $673.92 million for the quarter, compared to analyst estimates of $693.90 million. Radius Recycling had a negative return on equity of 5.89% and a negative net margin of 10.28%. The firm’s quarterly revenue was down 16.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 earnings per share. On average, sell-side analysts predict that Radius Recycling will post -3.06 earnings per share for the current year.

Institutional Investors Weigh In On Radius Recycling

Several institutional investors have recently made changes to their positions in the stock. Nordea Investment Management AB acquired a new position in Radius Recycling in the 1st quarter valued at $3,959,000. Russell Investments Group Ltd. bought a new position in shares of Radius Recycling in the first quarter worth $3,884,000. Swedbank AB acquired a new position in Radius Recycling in the first quarter valued at about $1,437,000. Fisher Asset Management LLC bought a new stake in Radius Recycling during the fourth quarter worth about $4,488,000. Finally, Lesa Sroufe & Co acquired a new stake in Radius Recycling during the first quarter worth about $1,321,000. 78.11% of the stock is currently owned by institutional investors.

About Radius Recycling

Radius Recycling, Inc recycles ferrous and nonferrous metal, and manufactures finished steel products worldwide. The company acquires, processes, and recycles salvaged vehicles, rail cars, home appliances, industrial machinery, manufacturing scrap, and construction and demolition scrap. It offers recycled ferrous metal, a feedstock used in the production of finished steel products; and nonferrous products, including mixed metal joint products recovered from the shredding process, such as zorba, zurik, aluminum, copper, stainless steel, nickel, brass, titanium, lead, and high temperature alloys.