Reliance Steel & Aluminum (RS) Upgraded at ValuEngine

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

A number of other research firms also recently commented on RS. Zacks Investment Research raised Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Monday, October 16th. Macquarie initiated coverage on Reliance Steel & Aluminum in a report on Wednesday, September 6th. They set an “outperform” rating on the stock. Cowen reaffirmed a “buy” rating and set a $92.00 target price on shares of Reliance Steel & Aluminum in a report on Friday, November 3rd. Bank of America reaffirmed a “buy” rating and set a $89.00 target price (up previously from $88.00) on shares of Reliance Steel & Aluminum in a report on Tuesday, September 5th. Finally, Jefferies Group reissued a “hold” rating and issued a $72.00 price target on shares of Reliance Steel & Aluminum in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. Reliance Steel & Aluminum currently has an average rating of “Buy” and a consensus target price of $82.00.

Shares of Reliance Steel & Aluminum (RS) traded down $0.04 during midday trading on Friday, reaching $78.57. The company’s stock had a trading volume of 629,205 shares, compared to its average volume of 436,064. The company has a current ratio of 4.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.43. Reliance Steel & Aluminum has a 12-month low of $68.46 and a 12-month high of $88.58. The firm has a market cap of $5,730.00, a price-to-earnings ratio of 15.54, a PEG ratio of 1.68 and a beta of 1.28.

Reliance Steel & Aluminum (NYSE:RS) last released its earnings results on Thursday, October 26th. The industrial products company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.11. Reliance Steel & Aluminum 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 period in the prior year, the business earned $1.25 EPS. The company’s quarterly revenue was up 12.1% on a year-over-year basis. equities analysts anticipate that Reliance Steel & Aluminum will post 5.21 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in RS. Grove Bank & Trust lifted its holdings in shares of Reliance Steel & Aluminum by 117.8% in the 3rd quarter. Grove Bank & Trust now owns 1,590 shares of the industrial products company’s stock worth $121,000 after purchasing an additional 860 shares during the last quarter. Huntington National Bank lifted its holdings in shares of Reliance Steel & Aluminum by 267.8% in the 3rd quarter. Huntington National Bank now owns 1,611 shares of the industrial products company’s stock worth $123,000 after purchasing an additional 1,173 shares during the last quarter. Zions Bancorporation bought a new stake in shares of Reliance Steel & Aluminum in the 3rd quarter worth approximately $144,000. Global X Management Co. LLC lifted its holdings in shares of Reliance Steel & Aluminum by 220.0% in the 2nd quarter. Global X Management Co. LLC now owns 2,304 shares of the industrial products company’s stock worth $168,000 after purchasing an additional 1,584 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its stake in Reliance Steel & Aluminum by 633.3% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,552 shares of the industrial products company’s stock valued at $194,000 after acquiring an additional 2,204 shares in the last quarter. 82.30% of the stock is currently owned by institutional investors and hedge funds.

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Reliance Steel & Aluminum 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).

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

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