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Reliance Steel & Aluminum (NYSE:RS - Get Rating) was upgraded by research analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a report released on Thursday.
A number of other equities research analysts also recently issued reports on the stock. Exane BNP Paribas raised shares of Reliance Steel & Aluminum from a "neutral" rating to an "outperform" rating in a research note on Thursday, April 14th. BNP Paribas upgraded Reliance Steel & Aluminum from a "neutral" rating to an "outperform" rating in a research note on Thursday, April 14th. Citigroup raised their price target on Reliance Steel & Aluminum from $200.00 to $230.00 in a research report on Friday, April 29th. The Goldman Sachs Group cut their price objective on Reliance Steel & Aluminum from $234.00 to $218.00 in a report on Tuesday, July 12th. Finally, KeyCorp lowered their target price on Reliance Steel & Aluminum from $215.00 to $207.00 and set an "overweight" rating for the company in a report on Tuesday. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Reliance Steel & Aluminum currently has an average rating of "Buy" and an average price target of $203.50.Reliance Steel & Aluminum Trading Down 0.5 %
NYSE RS opened at $179.61 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.28 and a current ratio of 3.96. The company has a market capitalization of $11.13 billion, a price-to-earnings ratio of 6.86 and a beta of 0.81. The company's 50-day simple moving average is $180.63 and its two-hundred day simple moving average is $179.47. Reliance Steel & Aluminum has a one year low of $135.46 and a one year high of $211.65.
Reliance Steel & Aluminum (NYSE:RS - Get Rating) last released its earnings results on Thursday, April 28th. The industrial products company reported $8.42 EPS for the quarter, topping analysts' consensus estimates of $7.20 by $1.22. Reliance Steel & Aluminum had a net margin of 10.61% and a return on equity of 27.94%. The company had revenue of $4.49 billion during the quarter, compared to analysts' expectations of $4.03 billion. During the same period last year, the business earned $4.10 EPS. Reliance Steel & Aluminum's revenue for the quarter was up 58.0% on a year-over-year basis. Equities analysts forecast that Reliance Steel & Aluminum will post 27.9 EPS for the current fiscal year. Insider Activity at Reliance Steel & Aluminum
In other news, VP Jeffrey Wayne Durham sold 10,000 shares of the firm's stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $196.06, for a total transaction of $1,960,600.00. Following the completion of the sale, the vice president now directly owns 19,071 shares in the company, valued at $3,739,060.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.62% of the company's stock. Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in RS. Schroder Investment Management Group boosted its position in Reliance Steel & Aluminum by 7.1% during the fourth quarter. Schroder Investment Management Group now owns 950 shares of the industrial products company's stock valued at $154,000 after purchasing an additional 63 shares during the last quarter. Nordea Investment Management AB increased its holdings in Reliance Steel & Aluminum by 2.3% in the first quarter. Nordea Investment Management AB now owns 61,078 shares of the industrial products company's stock worth $11,260,000 after buying an additional 1,350 shares during the last quarter. SG Americas Securities LLC raised its position in Reliance Steel & Aluminum by 409.5% during the first quarter. SG Americas Securities LLC now owns 51,618 shares of the industrial products company's stock valued at $9,464,000 after acquiring an additional 41,487 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in Reliance Steel & Aluminum by 27.3% in the fourth quarter. Illinois Municipal Retirement Fund now owns 18,916 shares of the industrial products company's stock valued at $3,069,000 after acquiring an additional 4,060 shares during the last quarter. Finally, Toronto Dominion Bank acquired a new position in shares of Reliance Steel & Aluminum during the 4th quarter worth $1,404,000. Institutional investors and hedge funds own 81.84% of the company's stock. Reliance Steel & Aluminum Company Profile (Get Rating)
Reliance Steel & Aluminum Co operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries.Further ReadingGet a free copy of the StockNews.com research report on Reliance Steel & Aluminum (RS)Get These 3 Juicy Dividend Yields While They Last Exxon Mobil Leads The Oil Sector: Have Both Peaked?How Low Can DocuSign Stock Go?These 3 Mega Caps are Bear Market BuysThe Top-Rated Consumer Defensive Stocks With Yield Above 3.5%
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