StockNews.com Initiates Coverage on Radius Recycling (NASDAQ:RDUS)

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

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

Radius Recycling Stock Performance

NASDAQ:RDUS 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 quick ratio of 0.97, a current ratio of 2.02 and a debt-to-equity ratio of 0.75. Radius Recycling has a 52 week low of $10.57 and a 52 week high of $29.16. The company has a fifty day simple moving average of $15.79 and a two-hundred day simple moving average of $16.70.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly 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 company had revenue of $656.54 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.64) EPS. As a group, equities analysts anticipate that Radius Recycling will post -3.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. boosted its holdings in Radius Recycling by 17.8% in the fourth quarter. Ameriprise Financial Inc. now owns 2,499,259 shares of the basic materials company’s stock valued at $38,039,000 after purchasing an additional 377,212 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Radius Recycling in the 4th quarter valued at $4,199,000. FMR LLC boosted its holdings in shares of Radius Recycling by 23.7% in the 3rd quarter. FMR LLC now owns 951,337 shares of the basic materials company’s stock valued at $17,638,000 after buying an additional 182,435 shares in the last quarter. Icon Advisers Inc. Co. grew its position in shares of Radius Recycling by 115.9% in the 4th quarter. Icon Advisers Inc. Co. now owns 285,000 shares of the basic materials company’s stock valued at $4,338,000 after buying an additional 153,000 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in Radius Recycling by 447.5% during the 4th quarter. Cubist Systematic Strategies LLC now owns 157,929 shares of the basic materials company’s stock worth $2,404,000 after acquiring an additional 129,086 shares in the last quarter. Hedge funds and other institutional investors own 78.11% of the company’s stock.

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.