Reliance Steel & Aluminum Co (RS) Receives $83.00 Consensus PT from Brokerages

Reliance Steel & Aluminum Co (NYSE:RS) has earned an average rating of “Buy” from the twelve brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $83.00.

A number of research analysts recently weighed in on RS shares. Bank of America set a $97.00 target price on shares of Reliance Steel & Aluminum and gave the company a “buy” rating in a research note on Monday, January 8th. Clarkson Capital restated a “buy” rating on shares of Reliance Steel & Aluminum in a research note on Wednesday, November 15th. Zacks Investment Research cut shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. ValuEngine cut shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, Cowen restated a “buy” rating and set a $92.00 target price on shares of Reliance Steel & Aluminum in a research note on Wednesday, October 4th.

In related news, SVP William A. Smith II sold 1,123 shares of Reliance Steel & Aluminum 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 transaction, the senior vice president now owns 15,320 shares in the company, valued at approximately $1,266,810.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.18% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in Reliance Steel & Aluminum by 4.2% in the 2nd quarter. BlackRock Inc. now owns 6,959,142 shares of the industrial products company’s stock valued at $506,694,000 after acquiring an additional 277,846 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Reliance Steel & Aluminum by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 6,081,125 shares of the industrial products company’s stock worth $442,766,000 after buying an additional 146,404 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Reliance Steel & Aluminum by 26.2% in the 3rd quarter. Victory Capital Management Inc. now owns 3,430,812 shares of the industrial products company’s stock worth $261,326,000 after buying an additional 711,994 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Reliance Steel & Aluminum by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,550,984 shares of the industrial products company’s stock worth $185,743,000 after buying an additional 50,208 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its holdings in shares of Reliance Steel & Aluminum by 1.5% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,832,962 shares of the industrial products company’s stock worth $133,458,000 after buying an additional 26,528 shares during the last quarter. Institutional investors own 82.20% of the company’s stock.

Shares of Reliance Steel & Aluminum (NYSE:RS) traded up $0.20 during trading on Friday, hitting $91.11. 579,763 shares of the stock traded hands, compared to its average volume of 424,450. The stock has a market cap of $6,630.00, a PE ratio of 17.90, a PEG ratio of 1.55 and a beta of 1.29. Reliance Steel & Aluminum has a 1-year low of $68.46 and a 1-year high of $92.18. The company has a quick ratio of 1.79, a current ratio of 4.06 and a debt-to-equity ratio of 0.43.

Reliance Steel & Aluminum (NYSE:RS) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.14). Reliance Steel & Aluminum had a return on equity of 8.61% and a net margin of 3.97%. equities research analysts expect that Reliance Steel & Aluminum will post 5.22 EPS for the current fiscal year.

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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).

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

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