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

January 14, 2018 - By Richard Conner

The stock of Gerdau S.A. (NYSE:GGB) hit a new 52-week high and has $4.85 target or 4.00 % above today’s $4.66 share price. The 8 months bullish chart indicates low risk for the $7.91B company. The 1-year high was reported on Jan, 14 by Barchart.com. If the $4.85 price target is reached, the company will be worth $316.48 million 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 0.65% or $0.03 during the last trading session, reaching $4.66. About 21.16M 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. (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. Scotia Capital downgraded the shares of GGB in report on Tuesday, October 25 to “Underperform” rating. The stock of Gerdau S.A. (NYSE:GGB) earned “Outperform” rating by Credit Suisse on Thursday, August 4. The firm earned “Hold” rating on Thursday, September 7 by Credit Suisse. JP Morgan upgraded the shares of GGB in report on Friday, September 1 to “Overweight” rating. The firm has “Buy” rating given on Monday, November 27 by Bank of America. The firm earned “Buy” rating on Friday, September 1 by J.P. Morgan. Bank of America downgraded the shares of GGB in report on Monday, February 22 to “Underperform” rating. The firm has “Buy” rating by Goldman Sachs given on Monday, August 10. The company was upgraded on Thursday, August 18 by Morgan Stanley.

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 Quotes.Wsj.com with their article: “Gerdau S/A ADR” published on February 11, 2011, Businesswire.com published: “Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement of Boland v …” on August 04, 2017. More interesting news about Gerdau S.A. (NYSE:GGB) were released by: Finance.Yahoo.com and their article: “Gerdau SA (ADR) Steel Maker Financial Review and 2017 Outlook” published on April 24, 2017 as well as Benzinga.com‘s news article titled: “Gerdau Announces New Agreement For Heavy Plates Production; Shares Surge Higher” with publication date: February 04, 2016.

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.

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