Reliance Steel & Aluminum Co. (RS) Raised to Buy at ValuEngine

Reliance Steel & Aluminum Co. (NYSE:RS) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Friday, October 27th.

RS has been the subject of several other reports. Jefferies Group LLC reissued a “hold” rating and set a $72.00 price target on shares of Reliance Steel & Aluminum Co. in a research report on Wednesday, July 19th. BidaskClub raised Reliance Steel & Aluminum Co. from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Zacks Investment Research cut Reliance Steel & Aluminum Co. from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. Cowen and Company set a $92.00 price objective on Reliance Steel & Aluminum Co. and gave the company an “outperform” rating in a research report on Thursday, July 27th. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $89.00 price objective (up from $88.00) on shares of Reliance Steel & Aluminum Co. in a research report on Tuesday, September 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $82.00.

Shares of Reliance Steel & Aluminum Co. (NYSE RS) opened at $75.56 on Friday. Reliance Steel & Aluminum Co. has a fifty-two week low of $68.46 and a fifty-two week high of $88.58. The stock has a market capitalization of $5,509.48, a PE ratio of 14.93, a price-to-earnings-growth ratio of 1.63 and a beta of 1.28. 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 Co. (NYSE:RS) last posted its quarterly earnings data on Thursday, October 26th. The industrial products company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.11. The company had revenue of $2.45 billion during the quarter. Reliance Steel & Aluminum Co. had a return on equity of 8.61% and a net margin of 3.97%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.25 earnings per share. sell-side analysts predict that Reliance Steel & Aluminum Co. will post 5.16 EPS for the current fiscal year.

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A number of institutional investors have recently bought and sold shares of the business. QS Investors LLC boosted its holdings in shares of Reliance Steel & Aluminum Co. by 0.5% in the 2nd quarter. QS Investors LLC now owns 3,710 shares of the industrial products company’s stock valued at $270,000 after purchasing an additional 17 shares in the last quarter. M&T Bank Corp boosted its holdings in shares of Reliance Steel & Aluminum Co. by 0.6% in the 2nd quarter. M&T Bank Corp now owns 6,785 shares of the industrial products company’s stock valued at $494,000 after purchasing an additional 42 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Reliance Steel & Aluminum Co. by 1.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 5,842 shares of the industrial products company’s stock valued at $425,000 after purchasing an additional 67 shares in the last quarter. Synovus Financial Corp boosted its holdings in shares of Reliance Steel & Aluminum Co. by 3.1% in the 2nd quarter. Synovus Financial Corp now owns 3,546 shares of the industrial products company’s stock valued at $259,000 after purchasing an additional 106 shares in the last quarter. Finally, Palo Capital Inc. boosted its holdings in shares of Reliance Steel & Aluminum Co. by 0.7% in the 2nd quarter. Palo Capital Inc. now owns 20,430 shares of the industrial products company’s stock valued at $1,488,000 after purchasing an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 82.40% of the company’s stock.

Reliance Steel & Aluminum Co. 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 Co. (NYSE:RS)

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