Reliance Steel & Aluminum (NYSE:RS) was upgraded by equities researchers at Longbow Research from a “neutral” rating to a “buy” rating in a research note issued on Wednesday, MarketBeat reports.

Several other equities analysts also recently issued reports on the stock. KeyCorp set a $95.00 price objective on shares of Reliance Steel & Aluminum and gave the company a “buy” rating in a report on Wednesday, January 10th. Zacks Investment Research downgraded shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Bank of America set a $97.00 price objective on shares of Reliance Steel & Aluminum and gave the company a “buy” rating in a report on Monday, January 8th. ValuEngine upgraded shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Clarkson Capital restated a “buy” rating on shares of Reliance Steel & Aluminum in a report on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $83.50.

Reliance Steel & Aluminum (NYSE RS) opened at $80.96 on Wednesday. The company has a market cap of $6,030.00, a PE ratio of 15.91, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26. The company has a quick ratio of 1.79, a current ratio of 4.06 and a debt-to-equity ratio of 0.43. Reliance Steel & Aluminum has a fifty-two week low of $68.46 and a fifty-two week high of $92.64.

Reliance Steel & Aluminum (NYSE:RS) last announced its earnings results on Thursday, February 15th. The industrial products company reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.16). Reliance Steel & Aluminum had a return on equity of 8.61% and a net margin of 3.97%. equities analysts predict that Reliance Steel & Aluminum will post 5.22 EPS for the current fiscal 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 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 owns 15,320 shares in the company, 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.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cerebellum GP LLC purchased a new stake in Reliance Steel & Aluminum in the fourth quarter valued at approximately $106,000. Grove Bank & Trust boosted its position in Reliance Steel & Aluminum by 117.8% in the third quarter. Grove Bank & Trust now owns 1,590 shares of the industrial products company’s stock valued at $121,000 after buying an additional 860 shares during the last quarter. Huntington National Bank boosted its position in Reliance Steel & Aluminum by 267.8% in the third quarter. Huntington National Bank now owns 1,611 shares of the industrial products company’s stock valued at $123,000 after buying an additional 1,173 shares during the last quarter. Zions Bancorporation purchased a new stake in Reliance Steel & Aluminum in the third quarter valued at approximately $144,000. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its position in Reliance Steel & Aluminum by 633.3% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,552 shares of the industrial products company’s stock valued at $194,000 after buying an additional 2,204 shares during the last quarter. Hedge funds and other institutional investors own 81.86% 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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