Gerdau (NYSE:GGB – Get Free Report) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Monday, MarketBeat.com reports. The firm presently has a $6.00 target price on the basic materials company’s stock, up from their prior target price of $5.00. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 38.89% from the stock’s current price.
Gerdau Trading Down 3.6 %
Shares of Gerdau stock opened at $4.32 on Monday. The company has a market cap of $7.59 billion, a price-to-earnings ratio of 5.14 and a beta of 1.73. Gerdau has a 1 year low of $4.11 and a 1 year high of $6.16. The company’s fifty day simple moving average is $4.33 and its 200-day simple moving average is $4.48. The company has a current ratio of 2.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.20.
Gerdau shares are going to split on Tuesday, April 30th. The 6-5 split was announced on Tuesday, April 30th. The newly created shares will be payable to shareholders after the market closes on Tuesday, April 30th.
Institutional Trading of Gerdau
About Gerdau
Gerdau SA, together with its subsidiaries, operates as a steel producer company. It operates through Brazil Business, North America Business, South America Business, and Special Steel Business divisions. The company provides semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles to the construction and manufacturing industries; drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire mesh, nails, and clamps for manufacturing, construction, and agricultural industries; and special steel products used in auto parts, light and heavy vehicles, and agricultural machinery, as well as in the oil and gas, wind energy, machinery and equipment, mining and rail, and other markets.
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