Equities researchers at Macquarie initiated coverage on shares of Reliance Steel & Aluminum Co. (NYSE:RS) in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm set an “outperform” rating on the industrial products company’s stock.

A number of other research firms also recently issued reports on RS. BidaskClub raised shares of Reliance Steel & Aluminum Co. from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Cowen and Company set a $92.00 target price on shares of Reliance Steel & Aluminum Co. and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Jefferies Group LLC reissued a “hold” rating and set a $72.00 target price on shares of Reliance Steel & Aluminum Co. in a research report on Wednesday, July 19th. Bank of America Corporation reissued a “buy” rating and set a $89.00 target price (up previously from $88.00) on shares of Reliance Steel & Aluminum Co. in a research report on Tuesday, September 5th. Finally, Zacks Investment Research raised shares of Reliance Steel & Aluminum Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $83.00.

Shares of Reliance Steel & Aluminum Co. (RS) traded up 0.56% on Wednesday, hitting $74.00. 472,756 shares of the company were exchanged. Reliance Steel & Aluminum Co. has a 52-week low of $65.10 and a 52-week high of $88.58. The firm has a market cap of $5.39 billion, a P/E ratio of 16.69 and a beta of 1.23. The company has a 50-day moving average price of $72.25 and a 200 day moving average price of $75.62.

Reliance Steel & Aluminum Co. (NYSE:RS) last posted its earnings results on Thursday, October 26th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.29 by $0.45. Reliance Steel & Aluminum Co. had a return on equity of 8.67% and a net margin of 3.57%. Analysts predict that Reliance Steel & Aluminum Co. will post $5.18 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece of content was originally published by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another publication, it was illegally copied and republished in violation of US and international copyright laws. The original version of this piece of content can be read at https://www.americanbankingnews.com/2017/09/10/reliance-steel-aluminum-co-rs-research-coverage-started-at-macquarie.html.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. grew its position in Reliance Steel & Aluminum Co. by 4.2% in the second quarter. BlackRock Inc. now owns 6,959,142 shares of the industrial products company’s stock valued at $506,694,000 after acquiring an additional 277,846 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Reliance Steel & Aluminum Co. by 2.5% during the second quarter. Vanguard Group Inc. now owns 6,081,125 shares of the industrial products company’s stock worth $442,766,000 after buying an additional 146,404 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Reliance Steel & Aluminum Co. by 27.8% during the second quarter. Victory Capital Management Inc. now owns 2,718,818 shares of the industrial products company’s stock worth $197,957,000 after buying an additional 591,272 shares in the last quarter. State Street Corp grew its position in shares of Reliance Steel & Aluminum Co. by 2.2% during the first quarter. State Street Corp now owns 2,558,032 shares of the industrial products company’s stock worth $204,690,000 after buying an additional 55,262 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Reliance Steel & Aluminum Co. by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,550,984 shares of the industrial products company’s stock worth $185,743,000 after buying an additional 50,208 shares in the last quarter. 82.68% of the stock is owned by institutional investors.

Reliance Steel & Aluminum Co. Company Profile

Reliance Steel & Aluminum Co is a metals service center company in North America (the United States and Canada). As of December 31, 2016, the Company’s network of metals service centers operated over 300 locations in 39 states in the United States and in 12 other countries (Australia, Belgium, Canada, China, France, Malaysia, Mexico, Singapore, South Korea, Turkey, the United Arab Emirates and the United Kingdom).

Analyst Recommendations for Reliance Steel & Aluminum Co. (NYSE:RS)

Receive News & Ratings for Reliance Steel & Aluminum Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reliance Steel & Aluminum Co. and related companies with MarketBeat.com's FREE daily email newsletter.