Reliance Steel & Aluminum (NYSE:RS) has been assigned a $97.00 target price by equities research analysts at Bank of America in a research note issued to investors on Monday. The firm presently has a “buy” rating on the industrial products company’s stock. Bank of America’s price objective suggests a potential upside of 9.06% from the company’s current price.

Several other research analysts have also recently issued reports on RS. Cowen restated a “buy” rating and issued a $92.00 target price on shares of Reliance Steel & Aluminum in a report on Wednesday, October 4th. Jefferies Group restated a “hold” rating and issued a $72.00 target price on shares of Reliance Steel & Aluminum in a report on Friday, October 6th. Zacks Investment Research upgraded shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Monday, October 16th. ValuEngine upgraded shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a report on Friday, October 27th. Finally, Clarkson Capital reaffirmed a “buy” rating on shares of Reliance Steel & Aluminum in a research note on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Reliance Steel & Aluminum presently has a consensus rating of “Buy” and a consensus price target of $81.67.

Shares of Reliance Steel & Aluminum (NYSE RS) traded down $0.74 during trading on Monday, hitting $88.94. 530,300 shares of the stock traded hands, compared to its average volume of 449,633. 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 has a 1 year low of $68.46 and a 1 year high of $89.89. The company has a market capitalization of $6,490.00, a PE ratio of 17.47, a price-to-earnings-growth ratio of 1.64 and a beta of 1.29.

Reliance Steel & Aluminum (NYSE:RS) last issued its earnings results on Thursday, October 26th. The industrial products company reported $1.30 earnings per share (EPS) for the quarter, topping the 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 quarter in the prior year, the business posted $1.25 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. analysts forecast that Reliance Steel & Aluminum will post 5.21 earnings per share for the current year.

In related news, SVP William A. Smith II sold 1,123 shares of the firm’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $82.69, for a total value of $92,860.87. Following the completion of the sale, the senior vice president now owns 15,320 shares of the company’s stock, valued at $1,266,810.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.18% of the company’s stock.

A number of institutional investors have recently made changes to their positions in RS. Schwab Charles Investment Management Inc. lifted its position in Reliance Steel & Aluminum by 4.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 261,407 shares of the industrial products company’s stock valued at $19,034,000 after buying an additional 12,026 shares during the period. Virginia Retirement Systems ET AL purchased a new position in Reliance Steel & Aluminum during the second quarter valued at $335,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Reliance Steel & Aluminum by 15.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,788 shares of the industrial products company’s stock valued at $203,000 after buying an additional 382 shares during the period. Swiss National Bank lifted its position in Reliance Steel & Aluminum by 1.2% during the second quarter. Swiss National Bank now owns 121,300 shares of the industrial products company’s stock valued at $8,832,000 after buying an additional 1,400 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Reliance Steel & Aluminum by 61.4% during the second quarter. JPMorgan Chase & Co. now owns 598,911 shares of the industrial products company’s stock valued at $43,607,000 after buying an additional 227,881 shares during the period. 82.30% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: This story was posted by Watch List News and is owned by of Watch List News. If you are viewing this story on another publication, it was illegally stolen and republished in violation of U.S. & international trademark & copyright law. The correct version of this story can be viewed at https://www.watchlistnews.com/reliance-steel-aluminum-rs-given-a-97-00-price-target-by-bank-of-america-analysts/1801520.html.

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)

Receive News & Ratings for Reliance Steel & Aluminum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reliance Steel & Aluminum and related companies with MarketBeat.com's FREE daily email newsletter.