Gerdau S.A. (GGB) : The consensus on Gerdau S.A. (GGB) based on 3 analyst recommendation on the company stock is 3, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 2 which endorses a Buy on the stock. However, 3 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.
Gerdau S.A. (GGB) : 2 Wall Street analysts covering Gerdau S.A. (GGB) believe that the average level the stock could reach for the short term is $4.13. The maximum price target given is $6 and the minimum target for short term is around $2, hence the standard deviation is calculated at $2.65.
Company shares have received an average consensus rating of Hold for the current week Also, Brokerage firm Morgan Stanley upgrades its rating on Gerdau S.A. (NYSE:GGB). The shares have been rated Overweight. Previously, the analysts had a Equal-weight rating on the shares. The rating by the firm was issued on August 18, 2016.
Gerdau S.A. (NYSE:GGB): stock was range-bound between the intraday low of $2.86 and the intraday high of $3 after having opened at $2.98 on Wednesdays session. The stock finally closed in the red at $2.98, a loss of -1.69%. The stock remained in the red for the whole trading day. The total traded volume was 6,936,064 shares. The stock failed to cross $3 in Wednesdays trading. The stocks closing price on Thursday was $2.96.
Gerdau S.A. (Gerdau) is a producer of long rolled steel. The Company operates in five segments: Brazil (Brazil Business Operation), which includes the steel operations in Brazil (except special steel) and the metallurgical and coking coal operation in Colombia; North America (North America Business Operation), which includes all North American operations, except Mexico and special steel; Latin America (Latin America Business Operation), which includes all Latin American operations, except the operations in Brazil and the metallurgical and coking coal operations in Colombia; Special Steel (Special Steel Business Operation), which includes the special steel operations in Brazil, Spain, the United States and India, and Iron Ore (Iron Ore Business Operation), which includes the iron ore operations in Brazil. The Companys mills are located in Argentina, Brazil, Canada, Chile, Colombia, Spain, the United States, Guatemala, India, Mexico, Peru, the Dominican Republic, Uruguay and Venezuela.