Reliance Steel & Aluminum Co. (NYSE:RS) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Several other equities analysts also recently commented on RS. BidaskClub raised shares of Reliance Steel & Aluminum Co. from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. Jefferies Group LLC reissued a “hold” rating and issued a $72.00 price target on shares of Reliance Steel & Aluminum Co. in a research note on Wednesday, July 19th. Cowen and Company set a $92.00 price target on shares of Reliance Steel & Aluminum Co. and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Zacks Investment Research raised shares of Reliance Steel & Aluminum Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Bank of America Corporation reissued a “buy” rating and issued a $89.00 price target (up from $88.00) on shares of Reliance Steel & Aluminum Co. in a research note on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $82.00.

Shares of Reliance Steel & Aluminum Co. (NYSE:RS) traded down 0.22% on Friday, hitting $78.25. The stock had a trading volume of 486,633 shares. The company has a market capitalization of $5.70 billion, a PE ratio of 17.65 and a beta of 1.24. The firm has a 50-day moving average of $75.33 and a 200 day moving average of $74.06. Reliance Steel & Aluminum Co. has a 1-year low of $66.63 and a 1-year high of $88.58.

Reliance Steel & Aluminum Co. (NYSE:RS) last issued its quarterly earnings data on Thursday, October 26th. The industrial products company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.19 by $0.11. The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.37 billion. Reliance Steel & Aluminum Co. had a net margin of 3.57% and a return on equity of 8.67%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.25 earnings per share. On average, equities analysts anticipate that Reliance Steel & Aluminum Co. will post $5.08 earnings per share for the current fiscal year.

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Several large investors have recently bought and sold shares of RS. Victory Capital Management Inc. grew its holdings in shares of Reliance Steel & Aluminum Co. by 26.2% during the third quarter. Victory Capital Management Inc. now owns 3,430,812 shares of the industrial products company’s stock valued at $261,326,000 after buying an additional 711,994 shares during the last quarter. Koch Industries Inc. purchased a new stake in shares of Reliance Steel & Aluminum Co. during the second quarter valued at approximately $393,000. FMR LLC grew its holdings in shares of Reliance Steel & Aluminum Co. by 820.5% during the second quarter. FMR LLC now owns 433,536 shares of the industrial products company’s stock valued at $31,566,000 after buying an additional 386,436 shares during the last quarter. Third Avenue Management LLC purchased a new stake in shares of Reliance Steel & Aluminum Co. during the second quarter valued at approximately $22,914,000. Finally, Pioneer Investment Management Inc. purchased a new stake in shares of Reliance Steel & Aluminum Co. during the second quarter valued at approximately $22,470,000. Hedge funds and other institutional investors own 82.33% of the company’s stock.

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).

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

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