Reliance Steel & Aluminum (RS) PT Raised to $107.00 at Cowen

Reliance Steel & Aluminum (NYSE:RS) had its target price raised by Cowen from $101.00 to $107.00 in a research report issued on Friday, MarketBeat.com reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Cowen’s price target indicates a potential upside of 13.14% from the stock’s current price.

RS has been the topic of several other reports. Bank of America set a $97.00 target price on shares of Reliance Steel & Aluminum and gave the stock a “buy” rating in a research note on Monday, January 8th. KeyCorp reissued a “buy” rating and set a $84.00 target price on shares of Reliance Steel & Aluminum in a research note on Thursday, December 7th. ValuEngine raised shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Longbow Research raised shares of Reliance Steel & Aluminum from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 7th. Finally, Zacks Investment Research lowered shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $86.33.

Reliance Steel & Aluminum (NYSE:RS) opened at $94.57 on Friday. The stock has a market cap of $6,895.57, a price-to-earnings ratio of 17.38, a P/E/G ratio of 1.61 and a beta of 1.26. Reliance Steel & Aluminum has a 12 month low of $68.46 and a 12 month high of $95.72. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.79 and a current ratio of 4.34.

Reliance Steel & Aluminum (NYSE:RS) last issued its earnings results on Thursday, February 15th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.22. The business had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.31 billion. Reliance Steel & Aluminum had a net margin of 6.31% and a return on equity of 9.00%. Reliance Steel & Aluminum’s revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 earnings per share. analysts predict that Reliance Steel & Aluminum will post 6.56 EPS for the current year.

In other Reliance Steel & Aluminum news, SVP William A. Smith II sold 1,123 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $82.69, for a total value of $92,860.87. Following the transaction, the senior vice president now directly owns 15,320 shares of the company’s stock, valued at $1,266,810.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.73% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in RS. Cerebellum GP LLC bought a new position in shares of Reliance Steel & Aluminum in the fourth quarter valued at $106,000. Grove Bank & Trust lifted its stake in shares of Reliance Steel & Aluminum by 117.8% in the third quarter. Grove Bank & Trust now owns 1,590 shares of the industrial products company’s stock valued at $121,000 after buying an additional 860 shares in the last quarter. Huntington National Bank lifted its stake in shares of Reliance Steel & Aluminum by 267.8% in the third quarter. Huntington National Bank now owns 1,611 shares of the industrial products company’s stock valued at $123,000 after buying an additional 1,173 shares in the last quarter. Zions Bancorporation bought a new position in shares of Reliance Steel & Aluminum in the third quarter valued at $144,000. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Reliance Steel & Aluminum by 633.3% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,552 shares of the industrial products company’s stock valued at $194,000 after buying an additional 2,204 shares in the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

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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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