Companhia Siderurgica Nacional (SID) Rating Lowered to Hold at Standpoint Research

Companhia Siderurgica Nacional (NYSE:SID) was downgraded by analysts at Standpoint Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, March 29th, The Fly reports.

Other analysts have also recently issued reports about the company. Morgan Stanley raised Companhia Siderurgica Nacional from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, March 5th. BTIG Research raised Companhia Siderurgica Nacional from a “hold” rating to a “buy” rating in a research report on Wednesday, January 23rd. Zacks Investment Research cut Companhia Siderurgica Nacional from a “hold” rating to a “sell” rating in a research report on Wednesday, January 23rd. HSBC raised Companhia Siderurgica Nacional from a “hold” rating to a “buy” rating in a research note on Friday, February 22nd. Finally, Itau BBA Securities raised Companhia Siderurgica Nacional from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. Companhia Siderurgica Nacional presently has an average rating of “Buy” and a consensus price target of $4.75.

Shares of NYSE SID traded down $0.01 during trading hours on Friday, reaching $3.88. The stock had a trading volume of 2,199,007 shares, compared to its average volume of 4,654,298. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.05 and a quick ratio of 0.61. Companhia Siderurgica Nacional has a fifty-two week low of $1.91 and a fifty-two week high of $4.60.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its stake in Companhia Siderurgica Nacional by 797.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,993,863 shares of the basic materials company’s stock valued at $4,546,000 after acquiring an additional 1,771,802 shares during the last quarter. Morgan Stanley raised its stake in Companhia Siderurgica Nacional by 459.5% during the 3rd quarter. Morgan Stanley now owns 1,560,624 shares of the basic materials company’s stock valued at $3,558,000 after acquiring an additional 1,281,702 shares during the last quarter. Dorsey Wright & Associates purchased a new stake in Companhia Siderurgica Nacional during the 1st quarter valued at approximately $4,405,000. Renaissance Technologies LLC raised its stake in Companhia Siderurgica Nacional by 764.2% during the 3rd quarter. Renaissance Technologies LLC now owns 393,200 shares of the basic materials company’s stock valued at $896,000 after acquiring an additional 347,700 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Companhia Siderurgica Nacional by 215.7% during the 4th quarter. Deutsche Bank AG now owns 392,589 shares of the basic materials company’s stock worth $859,000 after buying an additional 268,228 shares in the last quarter. 2.51% of the stock is owned by hedge funds and other institutional investors.

Companhia Siderurgica Nacional Company Profile

Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil. It operates through five segments: Steel, Mining, Logistics, Cement, and Energy. It produces a line of steel products, including slabs, hot and cold-rolled, galvanized, and tin mill products for the distribution, packaging, automotive, home appliance, and construction industries.

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Analyst Recommendations for Companhia Siderurgica Nacional (NYSE:SID)

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