Reliance Steel & Aluminum Co. (NYSE:RS)‘s stock had its “buy” rating reaffirmed by stock analysts at Cowen and Company in a report released on Friday. They presently have a $92.00 target price on the industrial products company’s stock. Cowen and Company’s target price would suggest a potential upside of 18.86% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research upgraded Reliance Steel & Aluminum Co. from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research report on Monday, October 16th. Bank of America Corporation restated 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. ValuEngine upgraded Reliance Steel & Aluminum Co. from a “hold” rating to a “buy” rating in a research report on Friday, October 27th. Jefferies Group LLC restated a “hold” rating on shares of Reliance Steel & Aluminum Co. in a research report on Thursday, August 31st. Finally, BidaskClub upgraded Reliance Steel & Aluminum Co. from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $82.00.

Shares of Reliance Steel & Aluminum Co. (NYSE:RS) traded down $0.35 during trading on Friday, hitting $77.40. The company had a trading volume of 259,017 shares, compared to its average volume of 432,832. The company has a market cap of $5.72 billion, a P/E ratio of 15.51 and a beta of 1.28.

Reliance Steel & Aluminum Co. (NYSE:RS) last announced its earnings results 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. Reliance Steel & Aluminum Co. had a return on equity of 8.61% and a net margin of 3.97%. The company had revenue of $2.45 billion for the quarter. During the same quarter in the previous year, the company earned $1.25 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. analysts expect that Reliance Steel & Aluminum Co. will post 5.16 EPS for the current fiscal year.

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A number of large investors have recently made changes to their positions in the business. FDx Advisors Inc. boosted its holdings in Reliance Steel & Aluminum Co. by 113.1% in the third quarter. FDx Advisors Inc. now owns 14,087 shares of the industrial products company’s stock worth $1,073,000 after acquiring an additional 7,478 shares in the last quarter. Pettee Investors Inc. bought a new position in Reliance Steel & Aluminum Co. in the third quarter worth approximately $659,000. Prudential Financial Inc. raised its stake in shares of Reliance Steel & Aluminum Co. by 2.6% in the third quarter. Prudential Financial Inc. now owns 771,216 shares of the industrial products company’s stock worth $58,744,000 after purchasing an additional 19,560 shares during the last quarter. New Amsterdam Partners LLC NY purchased a new stake in shares of Reliance Steel & Aluminum Co. in the third quarter worth approximately $2,256,000. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of Reliance Steel & Aluminum Co. by 1.0% in the third quarter. State Board of Administration of Florida Retirement System now owns 109,237 shares of the industrial products company’s stock worth $8,321,000 after purchasing an additional 1,090 shares during the last quarter. Institutional investors and hedge funds own 82.07% 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).

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

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