Reliance Steel & Aluminum Co (RS) Receives Consensus Rating of “Buy” from Brokerages

Reliance Steel & Aluminum Co (NYSE:RS) has earned a consensus recommendation of “Buy” from the twelve analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $83.00.

A number of research firms recently commented on RS. Bank of America set a $97.00 price target on shares of Reliance Steel & Aluminum and gave the stock a “buy” rating in a report on Monday, January 8th. Clarkson Capital reaffirmed a “buy” rating on shares of Reliance Steel & Aluminum in a report on Wednesday, November 15th. Zacks Investment Research cut shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a report on Monday, January 8th. ValuEngine cut shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Finally, Longbow Research raised shares of Reliance Steel & Aluminum from a “neutral” rating to a “buy” rating in a report on Wednesday, February 7th.

Shares of Reliance Steel & Aluminum (RS) opened at $85.18 on Tuesday. The company has a quick ratio of 1.79, a current ratio of 4.06 and a debt-to-equity ratio of 0.43. The company has a market cap of $6,050.51, a P/E ratio of 16.77, a P/E/G ratio of 1.41 and a beta of 1.26. Reliance Steel & Aluminum has a 1-year low of $68.46 and a 1-year high of $92.64.

Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.16). Reliance Steel & Aluminum had a return on equity of 8.61% and a net margin of 3.97%. analysts expect that Reliance Steel & Aluminum will post 5.22 earnings per share for the current fiscal year.

In other Reliance Steel & Aluminum news, SVP William A. Smith II sold 1,123 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $82.69, for a total transaction of $92,860.87. Following the sale, the senior vice president now owns 15,320 shares of the company’s stock, valued at approximately $1,266,810.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.18% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cornerstone Capital Inc. grew its position in shares of Reliance Steel & Aluminum by 30.5% during the 4th quarter. Cornerstone Capital Inc. now owns 186,610 shares of the industrial products company’s stock valued at $16,009,000 after purchasing an additional 43,646 shares in the last quarter. Carillon Tower Advisers Inc. purchased a new position in shares of Reliance Steel & Aluminum during the 4th quarter valued at $4,043,000. American International Group Inc. grew its position in shares of Reliance Steel & Aluminum by 1.1% during the 4th quarter. American International Group Inc. now owns 150,822 shares of the industrial products company’s stock valued at $12,939,000 after purchasing an additional 1,675 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Reliance Steel & Aluminum during the 4th quarter valued at $240,000. Finally, UBS Asset Management Americas Inc. grew its position in shares of Reliance Steel & Aluminum by 3.7% during the 4th quarter. UBS Asset Management Americas Inc. now owns 70,626 shares of the industrial products company’s stock valued at $6,059,000 after purchasing an additional 2,504 shares in the last quarter. Hedge funds and other institutional investors own 82.09% of the company’s stock.

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About Reliance Steel & Aluminum

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 (NYSE:RS)

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