Reliance Steel & Aluminum (RS) Given a $95.00 Price Target by KeyCorp Analysts

Reliance Steel & Aluminum (NYSE:RS) received a $95.00 target price from KeyCorp in a research note issued to investors on Wednesday, January 10th. The brokerage currently has a “buy” rating on the industrial products company’s stock. KeyCorp’s price objective suggests a potential upside of 4.20% from the stock’s current price. KeyCorp also issued estimates for Reliance Steel & Aluminum’s Q4 2017 earnings at $1.04 EPS.

A number of other analysts have also recently commented on the company. Zacks Investment Research cut Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Bank of America set a $97.00 price objective on Reliance Steel & Aluminum and gave the company a “buy” rating in a research report on Monday, January 8th. ValuEngine upgraded Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Clarkson Capital reissued a “buy” rating on shares of Reliance Steel & Aluminum in a report on Wednesday, November 15th. Finally, Cowen reissued a “buy” rating and set a $92.00 price target on shares of Reliance Steel & Aluminum in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $83.50.

Reliance Steel & Aluminum (NYSE:RS) traded up $0.20 during mid-day trading on Wednesday, hitting $91.17. The stock had a trading volume of 317,409 shares, compared to its average volume of 423,908. Reliance Steel & Aluminum has a 52-week low of $68.46 and a 52-week high of $92.18. The company has a quick ratio of 1.79, a current ratio of 4.06 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $6,630.19, a PE ratio of 17.95, a P/E/G ratio of 1.58 and a beta of 1.29.

Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings results on Thursday, October 26th. The industrial products company reported $1.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.11. The firm had revenue of $2.45 billion during the quarter. Reliance Steel & Aluminum had a return on equity of 8.61% and a net margin of 3.97%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 EPS. analysts expect that Reliance Steel & Aluminum will post 5.22 EPS for the current year.

In other news, SVP William A. Smith II sold 1,123 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $82.69, for a total value of $92,860.87. Following the completion of the transaction, the senior vice president now owns 15,320 shares of the company’s stock, valued at $1,266,810.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.73% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Berkshire Asset Management LLC PA purchased a new stake in shares of Reliance Steel & Aluminum in the fourth quarter worth about $265,000. Schwab Charles Investment Management Inc. lifted its position in shares of Reliance Steel & Aluminum by 6.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 292,731 shares of the industrial products company’s stock worth $25,114,000 after buying an additional 18,830 shares in the last quarter. Profit Investment Management LLC lifted its position in shares of Reliance Steel & Aluminum by 4.6% in the fourth quarter. Profit Investment Management LLC now owns 44,991 shares of the industrial products company’s stock worth $3,860,000 after buying an additional 1,995 shares in the last quarter. Crow Point Partners LLC purchased a new stake in shares of Reliance Steel & Aluminum in the fourth quarter worth about $291,000. Finally, Prudential Financial Inc. lifted its position in shares of Reliance Steel & Aluminum by 2.6% in the third quarter. Prudential Financial Inc. now owns 771,216 shares of the industrial products company’s stock worth $58,744,000 after buying an additional 19,560 shares in the last quarter. Institutional investors own 82.30% of the company’s stock.

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About Reliance Steel & Aluminum

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 (NYSE:RS)

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