Reliance Steel & Aluminum Co. (NYSE:RS)‘s stock had its “buy” rating restated by investment analysts at Cowen and Company in a research report issued on Wednesday. They currently have a $92.00 price objective on the industrial products company’s stock. Cowen and Company’s price objective points to a potential upside of 18.34% from the stock’s previous close.

Several other research analysts have also recently commented on RS. Deutsche Bank AG reaffirmed a “buy” rating on shares of Reliance Steel & Aluminum Co. in a research report on Saturday, June 24th. KeyCorp reaffirmed an “overweight” rating and issued a $81.00 target price (down from $85.00) on shares of Reliance Steel & Aluminum Co. in a research report on Monday, June 26th. Zacks Investment Research raised Reliance Steel & Aluminum Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $72.00 target price on shares of Reliance Steel & Aluminum Co. in a research report on Wednesday, July 19th. Finally, Macquarie began coverage on Reliance Steel & Aluminum Co. in a research report on Wednesday, September 6th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $81.33.

Shares of Reliance Steel & Aluminum Co. (NYSE:RS) opened at 77.74 on Wednesday. The company has a market cap of $5.67 billion, a price-to-earnings ratio of 17.53 and a beta of 1.24. The firm’s 50-day moving average is $73.60 and its 200 day moving average is $74.46. Reliance Steel & Aluminum Co. has a 1-year low of $65.10 and a 1-year high of $88.58.

Reliance Steel & Aluminum Co. (NYSE:RS) last issued its earnings results on Thursday, October 26th. The industrial products company reported $0.84 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.45). Reliance Steel & Aluminum Co. had a return on equity of 8.67% and a net margin of 3.57%. Equities analysts expect that Reliance Steel & Aluminum Co. will post $5.16 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently modified their holdings of the business. QS Investors LLC lifted its holdings in shares of Reliance Steel & Aluminum Co. by 0.5% during the second quarter. QS Investors LLC now owns 3,710 shares of the industrial products company’s stock valued at $270,000 after acquiring an additional 17 shares during the period. M&T Bank Corp lifted its holdings in shares of Reliance Steel & Aluminum Co. by 0.6% during the second quarter. M&T Bank Corp now owns 6,785 shares of the industrial products company’s stock valued at $494,000 after acquiring an additional 42 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Reliance Steel & Aluminum Co. by 1.2% during the second quarter. Teacher Retirement System of Texas now owns 5,842 shares of the industrial products company’s stock valued at $425,000 after acquiring an additional 67 shares during the period. Synovus Financial Corp lifted its holdings in shares of Reliance Steel & Aluminum Co. by 3.1% during the second quarter. Synovus Financial Corp now owns 3,546 shares of the industrial products company’s stock valued at $259,000 after acquiring an additional 106 shares during the period. Finally, Palo Capital Inc. lifted its holdings in shares of Reliance Steel & Aluminum Co. by 0.7% during the second quarter. Palo Capital Inc. now owns 20,430 shares of the industrial products company’s stock valued at $1,488,000 after acquiring an additional 142 shares during the period. 82.50% of the stock is owned by institutional investors.

About Reliance Steel & Aluminum Co.

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 Co. (NYSE:RS)

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