Reliance Steel & Aluminum Co. (NYSE:RS) has received an average rating of “Buy” from the twelve analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $83.00.

Several equities research analysts have issued reports on the stock. Bank of America set a $97.00 price target on shares of Reliance Steel & Aluminum and gave the stock a “buy” rating in a research note on Monday, January 8th. Clarkson Capital reissued a “buy” rating on shares of Reliance Steel & Aluminum in a research report on Wednesday, November 15th. Zacks Investment Research cut shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. ValuEngine cut shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Finally, Cowen reissued a “buy” rating and issued a $92.00 target price on shares of Reliance Steel & Aluminum in a research report on Wednesday, October 4th.

In related news, SVP William A. Smith II sold 1,123 shares of the firm’s stock in a transaction that occurred 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 owns 15,320 shares in the company, valued at $1,266,810.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.73% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Grove Bank & Trust raised its holdings 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 period. Huntington National Bank raised its holdings 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 period. Zions Bancorporation purchased a new position in Reliance Steel & Aluminum in the third quarter valued at approximately $144,000. Barrow Hanley Mewhinney & Strauss LLC raised its holdings 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 period. Finally, Private Advisor Group LLC purchased a new position in Reliance Steel & Aluminum in the third quarter valued at approximately $201,000. Hedge funds and other institutional investors own 82.30% of the company’s stock.

Reliance Steel & Aluminum (NYSE RS) traded up $0.20 during trading on Friday, hitting $91.17. 317,400 shares of the company’s stock traded hands, compared to its average volume of 423,908. Reliance Steel & Aluminum has a one year low of $68.46 and a one year high of $92.18. The firm has a market cap of $6,650.00, a PE ratio of 17.91, a P/E/G ratio of 1.55 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 released its quarterly earnings results on Thursday, October 26th. The industrial products company reported $1.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $2.45 billion for the quarter. During the same period in the prior year, the business earned $1.25 earnings per share. Reliance Steel & Aluminum’s revenue for the quarter was up 12.1% on a year-over-year basis. equities research analysts predict that Reliance Steel & Aluminum will post 5.22 earnings per share for the current fiscal year.

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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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