Radius Recycling (NASDAQ:RDUS) Now Covered by StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of Radius Recycling (NASDAQ:RDUS) in a research report issued on Tuesday. The firm set a “sell” rating on the basic materials company’s stock.

Separately, The Goldman Sachs Group began coverage on Radius Recycling in a research note on Monday, December 2nd. They set a “neutral” rating and a $22.00 price target for the company.

Radius Recycling Stock Up 0.3 %

RDUS stock opened at $29.10 on Tuesday. The company has a market cap of $819.31 million, a price-to-earnings ratio of -2.90 and a beta of 1.67. The company has a fifty day moving average price of $15.79 and a 200 day moving average price of $16.70. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.02 and a quick ratio of 0.97. Radius Recycling has a 12 month low of $10.57 and a 12 month high of $29.16.

Radius Recycling (NASDAQ:RDUS) last announced its earnings results on Tuesday, January 7th. The basic materials company reported ($1.33) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.67). The business had revenue of $656.54 million for the quarter, compared to analyst estimates of $665.90 million. Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. Radius Recycling’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.64) EPS. Sell-side analysts expect that Radius Recycling will post -3.84 earnings per share for the current year.

Institutional Investors Weigh In On Radius Recycling

Hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in Radius Recycling during the 3rd quarter worth approximately $32,000. Point72 DIFC Ltd acquired a new position in Radius Recycling during the third quarter worth $46,000. Aquatic Capital Management LLC purchased a new position in Radius Recycling in the fourth quarter worth $68,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Radius Recycling by 172.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 5,357 shares of the basic materials company’s stock valued at $99,000 after acquiring an additional 3,394 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Radius Recycling during the 4th quarter worth $140,000. Institutional investors and hedge funds own 78.11% of the company’s stock.

Radius Recycling Company Profile

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.