Gerdau (NYSE:GGB) Hits New 1-Year Low at $3.11
Shares of Gerdau SA (NYSE:GGB) reached a new 52-week low during trading on Wednesday . The stock traded as low as $3.11 and last traded at $3.12, with a volume of 344389 shares changing hands. The stock had previously closed at $3.30.
Several equities analysts have commented on GGB shares. ValuEngine raised shares of Gerdau from a “sell” rating to a “hold” rating in a report on Thursday, June 27th. Zacks Investment Research upgraded shares of Gerdau from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Finally, TheStreet upgraded shares of Gerdau from a “c” rating to a “b-” rating in a research note on Tuesday, June 4th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $4.50.
The company’s 50 day moving average is $3.67. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.19 and a quick ratio of 0.95. The company has a market cap of $5.73 billion, a P/E ratio of 7.78 and a beta of 1.83.
About Gerdau (NYSE:GGB)
Gerdau SA provides steel-related products and services worldwide. It operates through four segments: Brazil Operations, North America Operations, South America Operations, and Special Steel Operations. The company offers semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles, which are used primarily in the construction and manufacturing industries; and drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire meshes, nails, and clamps, as well as mines and produces iron ore.
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