Reliance Steel & Aluminum Co. (NYSE:RS) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, July 6th.

Other equities analysts have also recently issued research reports about the company. Deutsche Bank AG reiterated a “buy” rating on shares of Reliance Steel & Aluminum Co. in a report on Saturday, June 24th. Bank of America Corporation upgraded Reliance Steel & Aluminum Co. from a “neutral” rating to a “buy” rating and set a $88.00 target price for the company in a report on Tuesday, May 23rd. They noted that the move was a valuation call. Barclays PLC reiterated a “hold” rating and set a $59.00 target price on shares of Reliance Steel & Aluminum Co. in a report on Monday, May 1st. Jefferies Group LLC reiterated a “hold” rating and set a $77.00 target price (down previously from $80.00) on shares of Reliance Steel & Aluminum Co. in a report on Friday, April 28th. Finally, Longbow Research started coverage on Reliance Steel & Aluminum Co. in a report on Wednesday, April 19th. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $82.86.

Reliance Steel & Aluminum Co. (RS) traded up 0.64% during mid-day trading on Thursday, reaching $72.48. The company had a trading volume of 283,347 shares. Reliance Steel & Aluminum Co. has a 12 month low of $65.10 and a 12 month high of $88.58. The firm’s 50-day moving average price is $73.14 and its 200-day moving average price is $77.50. The stock has a market cap of $5.28 billion, a PE ratio of 16.35 and a beta of 1.23.

Reliance Steel & Aluminum Co. (NYSE:RS) last released its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.40 EPS for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.02. Reliance Steel & Aluminum Co. had a net margin of 3.57% and a return on equity of 8.67%. The business had revenue of $2.48 billion during the quarter. During the same quarter in the prior year, the company earned $1.36 EPS. Reliance Steel & Aluminum Co.’s quarterly revenue was up 12.3% on a year-over-year basis. Equities research analysts forecast that Reliance Steel & Aluminum Co. will post $5.17 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This report was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this report on another domain, it was copied illegally and reposted in violation of international trademark & copyright laws. The correct version of this report can be read at https://www.thecerbatgem.com/2017/08/04/bidaskclub-upgrades-reliance-steel-aluminum-co-nysers-to-hold-updated-updated-updated.html.

Several institutional investors have recently made changes to their positions in RS. Global X Management Co. LLC boosted its position in shares of Reliance Steel & Aluminum Co. by 220.0% in the second quarter. Global X Management Co. LLC now owns 2,304 shares of the industrial products company’s stock valued at $168,000 after buying an additional 1,584 shares during the last quarter. CrestPoint Capital Management LLC bought a new position in shares of Reliance Steel & Aluminum Co. during the first quarter valued at $208,000. Cigna Investments Inc. New bought a new position in shares of Reliance Steel & Aluminum Co. during the fourth quarter valued at $210,000. BB&T Securities LLC boosted its position in shares of Reliance Steel & Aluminum Co. by 25.5% in the second quarter. BB&T Securities LLC now owns 3,266 shares of the industrial products company’s stock valued at $237,000 after buying an additional 664 shares during the last quarter. Finally, Two Sigma Securities LLC bought a new position in shares of Reliance Steel & Aluminum Co. during the first quarter valued at $248,000. Institutional investors own 82.45% 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)

Receive News & Stock Ratings for Reliance Steel & Aluminum Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reliance Steel & Aluminum Co. and related stocks with our FREE daily email newsletter.