KeyCorp set a $95.00 price objective on Reliance Steel & Aluminum (NYSE:RS) in a research note released on Wednesday morning. The firm currently has a buy rating on the industrial products company’s stock.

RS has been the topic of a number of other reports. Bank of America set a $97.00 price objective on shares of Reliance Steel & Aluminum and gave the company a buy rating in a research note on Monday. Clarkson Capital reaffirmed a buy rating on shares of Reliance Steel & Aluminum in a research note on Wednesday, November 15th. Zacks Investment Research lowered shares of Reliance Steel & Aluminum from a buy rating to a hold rating in a research note on Monday. ValuEngine lowered shares of Reliance Steel & Aluminum from a buy rating to a hold rating in a research note on Thursday, November 9th. Finally, Cowen reaffirmed a buy rating and issued a $92.00 price objective on shares of Reliance Steel & Aluminum in a research note on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of Buy and an average price target of $83.50.

Reliance Steel & Aluminum (NYSE RS) traded up $1.94 during trading hours on Wednesday, reaching $90.83. 507,400 shares of the company’s stock were exchanged, compared to its average volume of 451,331. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.06 and a quick ratio of 1.79. The firm has a market capitalization of $6,480.00, a PE ratio of 17.84, a price-to-earnings-growth ratio of 1.64 and a beta of 1.29. Reliance Steel & Aluminum has a 1-year low of $68.46 and a 1-year high of $90.85.

Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings results on Thursday, October 26th. The industrial products company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.45 billion during the quarter. During the same quarter in the previous year, the business posted $1.25 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. research analysts forecast that Reliance Steel & Aluminum will post 5.21 EPS for the current year.

In other Reliance Steel & Aluminum news, SVP William A. Smith II sold 1,123 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $82.69, for a total value 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 Securities & Exchange Commission, which can be accessed through this link. 3.18% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Grove Bank & Trust lifted its position in shares of Reliance Steel & Aluminum by 117.8% during the third quarter. Grove Bank & Trust now owns 1,590 shares of the industrial products company’s stock valued at $121,000 after purchasing an additional 860 shares in the last quarter. Huntington National Bank lifted its position in shares of Reliance Steel & Aluminum by 267.8% during the third quarter. Huntington National Bank now owns 1,611 shares of the industrial products company’s stock valued at $123,000 after purchasing an additional 1,173 shares in the last quarter. Zions Bancorporation bought a new position in shares of Reliance Steel & Aluminum during the third quarter valued at about $144,000. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Reliance Steel & Aluminum by 633.3% during 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 purchasing an additional 2,204 shares in the last quarter. Finally, Private Advisor Group LLC bought a new position in shares of Reliance Steel & Aluminum during the third quarter valued at about $201,000. 82.30% of the stock is currently owned by institutional investors.

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Reliance Steel & Aluminum 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 (NYSE:RS)

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