Bank of America set a $97.00 price objective on Reliance Steel & Aluminum (NYSE:RS) in a research note published on Monday morning. The brokerage currently has a buy rating on the industrial products company’s stock.

RS has been the topic of a number of other reports. Clarkson Capital reissued a buy rating on shares of Reliance Steel & Aluminum in a report on Wednesday, November 15th. Zacks Investment Research downgraded shares of Reliance Steel & Aluminum from a buy rating to a hold rating in a report on Wednesday, October 18th. ValuEngine downgraded shares of Reliance Steel & Aluminum from a buy rating to a hold rating in a report on Thursday, November 9th. Cowen reissued a buy rating and set a $92.00 price target on shares of Reliance Steel & Aluminum in a report on Wednesday, October 4th. Finally, Jefferies Group reissued a hold rating and set a $72.00 price target on shares of Reliance Steel & Aluminum in a report on Friday, October 6th. One investment 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 presently has a consensus rating of Buy and an average price target of $83.50.

Reliance Steel & Aluminum (NYSE:RS) traded up $1.94 during mid-day trading on Monday, hitting $90.83. 509,300 shares of the stock traded hands, compared to its average volume of 451,325. Reliance Steel & Aluminum has a fifty-two week low of $68.46 and a fifty-two week high of $90.85. The stock has a market cap of $6,620.00, a P/E ratio of 17.84, a P/E/G ratio of 1.64 and a beta of 1.29. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.06 and a quick ratio of 1.79.

Reliance Steel & Aluminum (NYSE:RS) last announced its quarterly earnings results on Thursday, October 26th. The industrial products company reported $1.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.11. Reliance Steel & Aluminum had a net margin of 3.97% and a return on equity of 8.61%. The firm had revenue of $2.45 billion for the quarter. During the same period last year, the company posted $1.25 earnings per share. The business’s quarterly revenue was up 12.1% on a year-over-year basis. equities analysts forecast that Reliance Steel & Aluminum will post 5.21 earnings per share for the current year.

In other Reliance Steel & Aluminum news, SVP William A. Smith II sold 1,123 shares of the stock in a transaction on Friday, December 8th. The shares were sold at an average price of $82.69, for a total transaction of $92,860.87. Following the transaction, the senior vice president now directly owns 15,320 shares of the company’s stock, valued at $1,266,810.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 3.18% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its position in shares of Reliance Steel & Aluminum by 4.2% in the second quarter. BlackRock Inc. now owns 6,959,142 shares of the industrial products company’s stock valued at $506,694,000 after buying an additional 277,846 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Reliance Steel & Aluminum by 2.5% in the second quarter. Vanguard Group Inc. now owns 6,081,125 shares of the industrial products company’s stock valued at $442,766,000 after buying an additional 146,404 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Reliance Steel & Aluminum by 26.2% in the third quarter. Victory Capital Management Inc. now owns 3,430,812 shares of the industrial products company’s stock valued at $261,326,000 after buying an additional 711,994 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Reliance Steel & Aluminum by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,550,984 shares of the industrial products company’s stock valued at $185,743,000 after buying an additional 50,208 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its position in shares of Reliance Steel & Aluminum by 1.5% in the second quarter. Lord Abbett & CO. LLC now owns 1,832,962 shares of the industrial products company’s stock valued at $133,458,000 after buying an additional 26,528 shares during the last quarter. 82.30% of the stock is currently owned by institutional investors and hedge funds.

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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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