Reliance Steel & Aluminum (NYSE:RS) PT Set at $115.00 by Bank of America

Reliance Steel & Aluminum (NYSE:RS) received a $115.00 price target from equities research analysts at Bank of America in a research report issued to clients and investors on Friday, TipRanks reports. The firm currently has a “hold” rating on the industrial products company’s stock. Bank of America‘s price target points to a potential downside of 2.64% from the company’s previous close.

Several other research firms also recently commented on RS. ValuEngine raised Reliance Steel & Aluminum from a “sell” rating to a “hold” rating in a research report on Friday. Zacks Investment Research raised Reliance Steel & Aluminum from a “sell” rating to a “hold” rating and set a $103.00 target price on the stock in a research report on Friday, October 4th. Deutsche Bank set a $100.00 target price on Reliance Steel & Aluminum and gave the company a “buy” rating in a research report on Thursday, July 11th. Citigroup set a $104.00 target price on Reliance Steel & Aluminum and gave the company a “hold” rating in a research report on Friday, July 26th. Finally, Cowen set a $108.00 target price on Reliance Steel & Aluminum and gave the company a “buy” rating in a research report on Friday, July 26th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $101.88.

Shares of Reliance Steel & Aluminum stock traded up $2.07 on Friday, hitting $118.12. The stock had a trading volume of 546,541 shares, compared to its average volume of 468,765. Reliance Steel & Aluminum has a twelve month low of $68.62 and a twelve month high of $118.75. The business’s 50 day moving average is $100.91 and its two-hundred day moving average is $94.45. The company has a quick ratio of 2.08, a current ratio of 4.01 and a debt-to-equity ratio of 0.34. The stock has a market cap of $7.52 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 1.38 and a beta of 1.30.

Reliance Steel & Aluminum (NYSE:RS) last posted its earnings results on Thursday, October 24th. The industrial products company reported $2.39 EPS for the quarter, beating the consensus estimate of $1.95 by $0.44. Reliance Steel & Aluminum had a return on equity of 12.52% and a net margin of 5.48%. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the prior year, the business earned $2.42 earnings per share. The firm’s revenue for the quarter was down 9.7% on a year-over-year basis. As a group, equities analysts predict that Reliance Steel & Aluminum will post 9.25 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of RS. Brave Asset Management Inc. lifted its stake in Reliance Steel & Aluminum by 5.5% during the third quarter. Brave Asset Management Inc. now owns 21,242 shares of the industrial products company’s stock worth $2,117,000 after purchasing an additional 1,112 shares during the last quarter. Foster & Motley Inc. lifted its stake in Reliance Steel & Aluminum by 64.1% during the third quarter. Foster & Motley Inc. now owns 11,555 shares of the industrial products company’s stock worth $1,152,000 after purchasing an additional 4,513 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in Reliance Steel & Aluminum during the third quarter worth $6,328,000. Regentatlantic Capital LLC lifted its stake in Reliance Steel & Aluminum by 3.8% during the third quarter. Regentatlantic Capital LLC now owns 27,644 shares of the industrial products company’s stock worth $2,755,000 after purchasing an additional 1,008 shares during the last quarter. Finally, World Asset Management Inc lifted its stake in Reliance Steel & Aluminum by 2.2% during the third quarter. World Asset Management Inc now owns 5,380 shares of the industrial products company’s stock worth $536,000 after purchasing an additional 116 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Reliance Steel & Aluminum Company Profile

Reliance Steel & Aluminum Co operates as a metals service center company. The company provides alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products and related processing services to general manufacturing, non-residential construction, transportation, aerospace and defense, energy, electronics and semiconductor fabrication, auto, and heavy industries.

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

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