Are Analysts Bullish about Gerdau S.A. (NYSE:GGB) after last week?

January 14, 2018 - By reb123z

 Are Analysts Bullish about Gerdau S.A. (NYSE:GGB) after last week?

Gerdau S.A. (NYSE:GGB) Ratings Coverage

Among 7 analysts covering Gerdau (NYSE:GGB), 5 have Buy rating, 1 Sell and 1 Hold. Therefore 71% are positive. Gerdau had 10 analyst reports since August 10, 2015 according to SRatingsIntel. The company was downgraded on Tuesday, October 25 by Scotia Capital. The company was upgraded on Thursday, August 18 by Morgan Stanley. The rating was downgraded by Credit Suisse to “Hold” on Thursday, September 7. The firm has “Buy” rating by Goldman Sachs given on Monday, August 10. The firm has “Buy” rating given on Friday, September 1 by J.P. Morgan. The stock has “Underperform” rating by Bank of America on Monday, February 22. The stock of Gerdau S.A. (NYSE:GGB) earned “Outperform” rating by Credit Suisse on Thursday, August 4. Bank of America upgraded Gerdau S.A. (NYSE:GGB) on Monday, November 27 to “Buy” rating. The firm has “Overweight” rating given on Friday, September 1 by JP Morgan. Below is a list of Gerdau S.A. (NYSE:GGB) latest ratings and price target changes.

27/11/2017 Broker: Bank of America Rating: Buy New Target: $4.25 Upgrade
07/09/2017 Broker: Credit Suisse Rating: Hold Downgrade
01/09/2017 Broker: JP Morgan Old Rating: Neutral New Rating: Overweight Upgrade
01/09/2017 Broker: J.P. Morgan Rating: Buy Upgrade

The stock increased 0.65% or $0.03 during the last trading session, reaching $4.66. About 21.16 million shares traded or 144.93% up from the average. Gerdau S.A. (NYSE:GGB) has risen 83.44% since January 14, 2017 and is uptrending. It has outperformed by 66.74% the S&P500.

Gerdau S.A. provides steel-related products and services worldwide. The company has market cap of $7.91 billion. The firm operates through Brazil Operations, North America Operations, South America Operations, and Special Steel Operations. It currently has negative earnings. It offers semi-finished products, such as billets, blooms, and slabs; common long rolled products, including rebars, merchant bars, and profiles that are used by the construction and manufacturing industries; and drawn products consisting of barbed and barbless fence wire, galvanized wire, fences, concrete reinforcing wire mesh, nails, and clamps, as well as mines and produces iron ore.

More notable recent Gerdau S.A. (NYSE:GGB) news were published by: Reuters.com which released: “US firm files class action against Brazil steelmaker Gerdau” on May 26, 2016, also Foxbusiness.com with their article: “ADRs End Higher” published on January 02, 2018, Benzinga.com published: “Gerdau Announces New Agreement For Heavy Plates Production; Shares Surge Higher” on February 04, 2016. More interesting news about Gerdau S.A. (NYSE:GGB) were released by: Quotes.Wsj.com and their article: “Gerdau S/A ADR” published on February 11, 2011 as well as Finance.Yahoo.com‘s news article titled: “Gerdau SA (ADR) Steel Maker Financial Review and 2017 Outlook” with publication date: April 24, 2017.

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