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

Other equities research analysts also recently issued reports about the company. Cowen and Company reissued a buy rating and issued a $92.00 price objective on shares of Reliance Steel & Aluminum Co. in a research note on Wednesday, October 4th. Deutsche Bank AG reissued a buy rating on shares of Reliance Steel & Aluminum Co. in a research note on Saturday, June 24th. Bank of America Corporation reissued a buy rating and issued a $89.00 price objective (up from $88.00) on shares of Reliance Steel & Aluminum Co. in a research note on Tuesday, September 5th. Zacks Investment Research raised Reliance Steel & Aluminum Co. from a sell rating to a hold rating in a research note on Wednesday, August 2nd. Finally, BidaskClub raised Reliance Steel & Aluminum Co. from a sell rating to a hold rating in a research note on Thursday, July 6th. 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 company has an average rating of Buy and an average price target of $81.33.

Shares of Reliance Steel & Aluminum Co. (NYSE RS) opened at 76.31 on Friday. The stock has a market cap of $5.56 billion, a PE ratio of 17.21 and a beta of 1.24. Reliance Steel & Aluminum Co. has a one year low of $65.10 and a one year high of $88.58. The stock’s 50 day moving average price is $73.80 and its 200-day moving average price is $74.42.

Reliance Steel & Aluminum Co. (NYSE:RS) last posted its quarterly earnings results on Thursday, October 26th. The industrial products company reported $0.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.29 by ($0.45). Reliance Steel & Aluminum Co. had a return on equity of 8.67% and a net margin of 3.57%. On average, equities analysts predict that Reliance Steel & Aluminum Co. will post $5.16 earnings per share for the current fiscal year.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Global X Management Co. LLC grew its holdings in Reliance Steel & Aluminum Co. by 220.0% in the 2nd 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. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Reliance Steel & Aluminum Co. by 15.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,788 shares of the industrial products company’s stock valued at $203,000 after buying an additional 382 shares during the last quarter. Two Sigma Securities LLC acquired a new stake in Reliance Steel & Aluminum Co. in the 1st quarter valued at approximately $248,000. BB&T Securities LLC grew its holdings in Reliance Steel & Aluminum Co. by 25.5% in the 2nd 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, Dynamic Technology Lab Private Ltd acquired a new stake in Reliance Steel & Aluminum Co. in the 2nd quarter valued at approximately $252,000. 82.50% of the stock is currently owned by hedge funds and other institutional investors.

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).

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

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