Reliance Steel & Aluminum Co. (NYSE:RS) Receives Hold Rating from Jefferies Group LLC

Jefferies Group LLC restated their hold rating on shares of Reliance Steel & Aluminum Co. (NYSE:RS) in a research report sent to investors on Wednesday. They currently have a $72.00 price objective on the industrial products company’s stock.

A number of other research firms have also commented on RS. Deutsche Bank AG restated a buy rating on shares of Reliance Steel & Aluminum Co. in a research report on Saturday, June 24th. Bank of America Corporation upgraded shares of Reliance Steel & Aluminum Co. from a neutral rating to a buy rating and set a $88.00 price objective for the company in a research report on Tuesday, May 23rd. They noted that the move was a valuation call. BidaskClub upgraded shares of Reliance Steel & Aluminum Co. from a sell rating to a hold rating in a research report on Thursday, July 6th. Barclays PLC restated a hold rating and issued a $59.00 price objective on shares of Reliance Steel & Aluminum Co. in a research report on Monday, May 1st. Finally, Longbow Research began coverage on shares of Reliance Steel & Aluminum Co. in a research report on Wednesday, April 19th. They issued a neutral rating for the company. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Reliance Steel & Aluminum Co. has a consensus rating of Buy and an average price target of $82.00.

Shares of Reliance Steel & Aluminum Co. (NYSE RS) traded up 0.81% during mid-day trading on Wednesday, hitting $75.57. 305,075 shares of the company traded hands. Reliance Steel & Aluminum Co. has a one year low of $65.10 and a one year high of $88.58. The firm has a 50-day moving average of $73.29 and a 200-day moving average of $78.00. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of 17.12 and a beta of 1.23.

Reliance Steel & Aluminum Co. (NYSE:RS) last posted its quarterly earnings data on Thursday, April 27th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.10. Reliance Steel & Aluminum Co. had a net margin of 3.65% and a return on equity of 8.71%. The business had revenue of $2.42 billion during the quarter. During the same quarter last year, the business posted $1.03 EPS. The business’s quarterly revenue was up 11.9% on a year-over-year basis. On average, equities analysts predict that Reliance Steel & Aluminum Co. will post $5.28 earnings per share for the current year.

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A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Reliance Steel & Aluminum Co. by 11,996.1% in the first quarter. BlackRock Inc. now owns 6,681,296 shares of the industrial products company’s stock valued at $534,635,000 after buying an additional 6,626,061 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Reliance Steel & Aluminum Co. by 4.2% in the first quarter. Vanguard Group Inc. now owns 5,934,721 shares of the industrial products company’s stock valued at $474,896,000 after buying an additional 239,449 shares during the last quarter. State Street Corp raised its stake in shares of Reliance Steel & Aluminum Co. by 2.2% in the first quarter. State Street Corp now owns 2,558,032 shares of the industrial products company’s stock valued at $204,690,000 after buying an additional 55,262 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Reliance Steel & Aluminum Co. by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,500,776 shares of the industrial products company’s stock valued at $200,111,000 after buying an additional 23,898 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Reliance Steel & Aluminum Co. by 22.7% in the first quarter. Victory Capital Management Inc. now owns 2,127,546 shares of the industrial products company’s stock valued at $170,245,000 after buying an additional 393,700 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

About Reliance Steel & Aluminum Co.

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 Co. (NYSE:RS)

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