Reliance Steel & Aluminum Co. (NYSE:RS)‘s stock had its “hold” rating reaffirmed by analysts at Jefferies Group LLC in a research note issued to investors on Friday. They presently have a $72.00 price target on the industrial products company’s stock. Jefferies Group LLC’s target price would indicate a potential downside of 7.38% from the company’s current price.

RS has been the subject of several other reports. BidaskClub cut shares of Reliance Steel & Aluminum Co. from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Macquarie started coverage on shares of Reliance Steel & Aluminum Co. in a research report on Wednesday, September 6th. They set an “outperform” rating for the company. KeyCorp reaffirmed an “overweight” rating and set a $81.00 price objective (down from $85.00) on shares of Reliance Steel & Aluminum Co. in a research report on Monday, June 26th. Cowen and Company reaffirmed a “buy” rating and set a $92.00 price objective on shares of Reliance Steel & Aluminum Co. in a research report on Wednesday. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $89.00 price objective (up from $88.00) on shares of Reliance Steel & Aluminum Co. in a research report on Tuesday, September 5th. One investment 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 has an average rating of “Buy” and a consensus price target of $81.33.

Shares of Reliance Steel & Aluminum Co. (NYSE RS) opened at 77.74 on Friday. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 17.53 and a beta of 1.24. Reliance Steel & Aluminum Co. has a one year low of $65.10 and a one year high of $88.58. The stock’s 50 day moving average price is $73.60 and its 200 day moving average price is $74.46.

Reliance Steel & Aluminum Co. (NYSE:RS) last released its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 forecast that Reliance Steel & Aluminum Co. will post $5.16 earnings per share for the current year.

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A number of institutional investors and hedge funds have recently made changes to their positions in RS. BlackRock Inc. lifted its position in Reliance Steel & Aluminum Co. by 11,996.1% in the first quarter. BlackRock Inc. now owns 6,681,296 shares of the industrial products company’s stock valued at $534,635,000 after acquiring an additional 6,626,061 shares during the last quarter. Victory Capital Management Inc. lifted its position in Reliance Steel & Aluminum Co. by 27.8% in the second quarter. Victory Capital Management Inc. now owns 2,718,818 shares of the industrial products company’s stock valued at $197,957,000 after acquiring an additional 591,272 shares during the last quarter. Koch Industries Inc. purchased a new stake in Reliance Steel & Aluminum Co. in the second quarter valued at $393,000. FMR LLC lifted its position in Reliance Steel & Aluminum Co. by 820.5% in the second quarter. FMR LLC now owns 433,536 shares of the industrial products company’s stock valued at $31,566,000 after acquiring an additional 386,436 shares during the last quarter. Finally, Third Avenue Management LLC purchased a new stake in Reliance Steel & Aluminum Co. in the second quarter valued at $22,914,000. 82.50% of the stock is owned by hedge funds and other institutional investors.

About Reliance Steel & Aluminum Co.

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)

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