The Goldman Sachs Group Begins Coverage on Radius Recycling (NASDAQ:RDUS)

Equities research analysts at The Goldman Sachs Group initiated coverage on shares of Radius Recycling (NASDAQ:RDUS) in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The brokerage set a “neutral” rating and a $22.00 price target on the basic materials company’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 10.94% from the stock’s previous close.

Separately, StockNews.com lowered Radius Recycling from a “hold” rating to a “sell” rating in a research report on Tuesday, November 26th.

Radius Recycling Stock Up 0.9 %

Shares of NASDAQ RDUS opened at $19.83 on Monday. The firm has a 50 day moving average price of $18.33 and a 200 day moving average price of $16.75. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.00 and a current ratio of 1.92. The stock has a market cap of $556.03 million, a P/E ratio of -2.12 and a beta of 1.59. Radius Recycling has a 52-week low of $12.69 and a 52-week high of $31.70.

Radius Recycling (NASDAQ:RDUS) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.18. The business had revenue of $771.00 million during the quarter, compared to analysts’ expectations of $680.80 million. Radius Recycling had a negative net margin of 9.73% and a negative return on equity of 9.83%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 EPS. Analysts expect that Radius Recycling will post -1.02 EPS for the current year.

Insider Buying and Selling

In related news, SVP Steven Heiskell sold 17,675 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $17.08, for a total transaction of $301,889.00. Following the completion of the transaction, the senior vice president now owns 133,780 shares in the company, valued at approximately $2,284,962.40. This represents a 11.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Radius Recycling

Several institutional investors and hedge funds have recently added to or reduced their stakes in RDUS. Vanguard Group Inc. raised its holdings in Radius Recycling by 0.9% during the first quarter. Vanguard Group Inc. now owns 2,622,968 shares of the basic materials company’s stock worth $55,423,000 after acquiring an additional 23,199 shares in the last quarter. CANADA LIFE ASSURANCE Co bought a new stake in shares of Radius Recycling during the 1st quarter worth approximately $159,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Radius Recycling during the 1st quarter worth approximately $251,000. Public Employees Retirement System of Ohio acquired a new position in Radius Recycling during the first quarter worth $717,000. Finally, Janus Henderson Group PLC bought a new stake in Radius Recycling during the first quarter worth $242,000. 78.11% of the stock is 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.