Reliance Steel & Aluminum Price Target Increased to $76.00 by Analysts at Jefferies Group (RS)
Equities researchers at Jefferies Group raised their target price on shares of Reliance Steel & Aluminum (NYSE:RS) from $74.00 to $76.00 in a research report issued on Monday. Jefferies Group’s price target suggests a potential upside of 3.46% from the company’s current price.
Reliance Steel & Aluminum (NYSE:RS) traded up 0.42% during mid-day trading on Monday, hitting $73.77. The stock had a trading volume of 95,891 shares. Reliance Steel & Aluminum has a 52-week low of $61.93 and a 52-week high of $76.78. The stock’s 50-day moving average is $72.32 and its 200-day moving average is $71.84. The company has a market cap of $5.733 billion and a price-to-earnings ratio of 17.65.
Reliance Steel & Aluminum (NYSE:RS) last announced its earnings results on Thursday, April 24th. The company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by $0.05. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the company posted $1.09 earnings per share. The company’s revenue for the quarter was up 26.1% on a year-over-year basis. On average, analysts predict that Reliance Steel & Aluminum will post $5.20 earnings per share for the current fiscal year.
RS has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Reliance Steel & Aluminum in a research note on Monday, May 19th. They now have a $76.00 price target on the stock. Separately, analysts at Ned Davis Research upgraded shares of Reliance Steel & Aluminum from a “neutral” rating to a “buy” rating in a research note on Monday, May 12th. Finally, analysts at Cowen and Company raised their price target on shares of Reliance Steel & Aluminum from $77.00 to $80.00 in a research note on Friday, April 25th. They now have an “outperform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Reliance Steel & Aluminum currently has a consensus rating of “Hold” and a consensus target price of $78.00.
Reliance Steel & Aluminum Co (NYSE:RS) is the metals service center company in North America (United States and Canada).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.