Gerdau S.A. (GGB) Downgraded to Hold at BidaskClub

Gerdau S.A. (NYSE:GGB) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Monday, July 24th.

Several other equities research analysts also recently issued reports on the company. Zacks Investment Research upgraded Gerdau from a “hold” rating to a “buy” rating and set a $3.25 price objective on the stock in a report on Tuesday, June 27th. Scotiabank upgraded Gerdau from an “underperform” rating to a “sector perform” rating in a report on Friday, June 9th. Finally, UBS AG downgraded Gerdau from a “neutral” rating to a “sell” rating in a report on Tuesday, March 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $4.00.

Gerdau (GGB) opened at 3.52 on Monday. The stock’s market cap is $6.02 billion. The company has a 50-day moving average of $3.39 and a 200 day moving average of $3.38. Gerdau has a 1-year low of $2.47 and a 1-year high of $4.39.

ILLEGAL ACTIVITY NOTICE: “Gerdau S.A. (GGB) Downgraded to Hold at BidaskClub” was first published by BNB Daily and is owned by of BNB Daily. If you are accessing this piece of content on another domain, it was stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this piece of content can be viewed at https://www.baseball-news-blog.com/2017/08/19/bidaskclub-downgrades-gerdau-s-a-ggb-to-hold-updated-updated-updated.html.

Several large investors have recently modified their holdings of GGB. World Asset Management Inc increased its stake in shares of Gerdau by 0.5% in the first quarter. World Asset Management Inc now owns 71,106 shares of the basic materials company’s stock worth $245,000 after buying an additional 386 shares during the period. Global X Management Co. LLC raised its position in Gerdau by 1.9% in the first quarter. Global X Management Co. LLC now owns 32,137 shares of the basic materials company’s stock worth $111,000 after buying an additional 589 shares in the last quarter. Comerica Bank raised its position in Gerdau by 1.5% in the first quarter. Comerica Bank now owns 65,710 shares of the basic materials company’s stock worth $196,000 after buying an additional 982 shares in the last quarter. Nwam LLC raised its position in Gerdau by 0.8% in the first quarter. Nwam LLC now owns 129,221 shares of the basic materials company’s stock worth $446,000 after buying an additional 1,025 shares in the last quarter. Finally, IPG Investment Advisors LLC raised its position in Gerdau by 2.6% in the second quarter. IPG Investment Advisors LLC now owns 58,500 shares of the basic materials company’s stock worth $178,000 after buying an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 5.04% of the company’s stock.

About Gerdau

Gerdau SA (Gerdau) is a manufacturer of long steel in the North and South America. The Company is engaged in the production and commercialization of steel products in general, through its mills located in Argentina, Brazil, Canada, Chile, Colombia, Spain, the United States, Guatemala, India, Mexico, Peru, the Dominican Republic, Uruguay and Venezuela.

Receive News & Ratings for Gerdau S.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gerdau S.A. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply