What’s in Gerdau S.A. (GGB) After Achieving 52-Week High?

February 19, 2018 - By Peter Erickson

The stock of Gerdau S.A. (NYSE:GGB) hit a new 52-week high and has $5.14 target or 3.00 % above today’s $4.99 share price. The 8 months bullish chart indicates low risk for the $8.29B company. The 1-year high was reported on Feb, 19 by Barchart.com. If the $5.14 price target is reached, the company will be worth $248.73M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 6.85% or $0.32 during the last trading session, reaching $4.99. About 29.72 million shares traded or 178.21% up from the average. Gerdau S.A. (NYSE:GGB) has risen 83.44% since February 19, 2017 and is uptrending. It has outperformed by 66.74% the S&P500.

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

Among 7 analysts covering Gerdau (NYSE:GGB), 6 have Buy rating, 1 Sell and 0 Hold. Therefore 86% are positive. Gerdau had 11 analyst reports since August 10, 2015 according to SRatingsIntel. Credit Suisse upgraded Gerdau S.A. (NYSE:GGB) on Friday, February 2 to “Buy” rating. The stock of Gerdau S.A. (NYSE:GGB) earned “Hold” rating by Credit Suisse on Thursday, September 7. The company was upgraded on Thursday, August 18 by Morgan Stanley. The stock of Gerdau S.A. (NYSE:GGB) has “Underperform” rating given on Monday, February 22 by Bank of America. The company was downgraded on Tuesday, October 25 by Scotia Capital. JP Morgan upgraded the shares of GGB in report on Friday, September 1 to “Overweight” rating. The firm has “Buy” rating by Bank of America given on Monday, November 27. The company was initiated on Monday, August 10 by Goldman Sachs. The firm has “Outperform” rating given on Thursday, August 4 by Credit Suisse. The stock of Gerdau S.A. (NYSE:GGB) has “Buy” rating given on Friday, September 1 by J.P. Morgan.

More notable recent Gerdau S.A. (NYSE:GGB) news were published by: Fool.com which released: “Here’s Why These Steel Stocks Got Hammered” on September 14, 2016, also Finance.Yahoo.com with their article: “Gerdau SA (ADR) Steel Maker Financial Review and 2017 Outlook” published on April 24, 2017, Benzinga.com published: “Mid-Day Market Update: US Stocks Turn Lower; Dow Drops Over 150 Points” on February 06, 2018. More interesting news about Gerdau S.A. (NYSE:GGB) were released by: Seekingalpha.com and their article: “Gerdau: A Study In Risk Vs. Opportunity” published on April 07, 2016 as well as Reuters.com‘s news article titled: “US firm files class action against Brazil steelmaker Gerdau” with publication date: May 26, 2016.

Gerdau S.A. provides steel-related products and services worldwide. The company has market cap of $8.29 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.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.