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

Equities researchers at The Goldman Sachs Group began coverage on shares of Radius Recycling (NASDAQ:RDUS) in a research note issued to investors on Monday, Marketbeat 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 would suggest a potential upside of 10.94% from the company’s current price.

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

Radius Recycling Stock Up 0.9 %

RDUS stock opened at $19.83 on Monday. The business’s 50 day simple moving average is $18.33 and its 200 day simple moving average is $16.75. Radius Recycling has a 1-year low of $12.69 and a 1-year high of $31.70. The firm has a market capitalization of $556.03 million, a PE ratio of -2.12 and a beta of 1.59. The company has a current ratio of 1.92, a quick ratio of 1.00 and a debt-to-equity ratio of 0.65.

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 the consensus estimate of ($0.59) by $0.18. The firm had revenue of $771.00 million for the quarter, compared to the consensus estimate of $680.80 million. Radius Recycling had a negative net margin of 9.73% and a negative return on equity of 9.83%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.47 earnings per share. As a group, research analysts anticipate that Radius Recycling will post -1.02 EPS for the current year.

Insiders Place Their Bets

In other Radius Recycling news, SVP Steven Heiskell sold 17,675 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $17.08, for a total transaction of $301,889.00. Following the transaction, the senior vice president now owns 133,780 shares in the company, valued at $2,284,962.40. This trade represents a 11.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.70% of the company’s stock.

Institutional Trading of Radius Recycling

Institutional investors have recently modified their holdings of the stock. Barclays PLC raised its stake in Radius Recycling by 156.2% in the third quarter. Barclays PLC now owns 58,337 shares of the basic materials company’s stock valued at $1,081,000 after purchasing an additional 35,568 shares in the last quarter. Geode Capital Management LLC increased its holdings in Radius Recycling by 6.0% in the 3rd quarter. Geode Capital Management LLC now owns 643,674 shares of the basic materials company’s stock valued at $11,936,000 after buying an additional 36,618 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Radius Recycling by 1.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 33,186 shares of the basic materials company’s stock valued at $615,000 after buying an additional 610 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Radius Recycling by 62.9% during the 3rd quarter. Jane Street Group LLC now owns 90,813 shares of the basic materials company’s stock worth $1,684,000 after acquiring an additional 35,073 shares during the period. Finally, Stifel Financial Corp boosted its position in shares of Radius Recycling by 28.6% during the 3rd quarter. Stifel Financial Corp now owns 20,052 shares of the basic materials company’s stock worth $372,000 after acquiring an additional 4,455 shares in the last quarter. 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.