Posted by admin on Jul 31st, 2022

Reliance Steel & Aluminum (NYSE:RS – Get Rating) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.

A number of other research firms also recently commented on RS. Wolfe Research upgraded shares of Reliance Steel & Aluminum from a “market perform” rating to an “outperform” rating and set a $226.00 price target on the stock in a research report on Thursday, April 28th. The Goldman Sachs Group dropped their target price on shares of Reliance Steel & Aluminum from $234.00 to $218.00 in a report on Tuesday, July 12th. KeyCorp dropped their target price on shares of Reliance Steel & Aluminum from $215.00 to $207.00 and set an “overweight” rating on the stock in a report on Tuesday, July 19th. Exane BNP Paribas upgraded shares of Reliance Steel & Aluminum from a “neutral” rating to an “outperform” rating in a report on Thursday, April 14th. Finally, BNP Paribas upgraded shares of Reliance Steel & Aluminum from a “neutral” rating to an “outperform” rating in a report on Thursday, April 14th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Reliance Steel & Aluminum currently has a consensus rating of “Moderate Buy” and an average price target of $203.50.

NYSE RS opened at $190.25 on Friday. Reliance Steel & Aluminum has a one year low of $135.46 and a one year high of $211.65. The company has a 50-day simple moving average of $180.76 and a 200-day simple moving average of $180.58. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.28 and a current ratio of 3.96. The firm has a market capitalization of $11.79 billion, a PE ratio of 7.26 and a beta of 0.81.

Reliance Steel & Aluminum (NYSE:RS – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The industrial products company reported $9.15 EPS for the quarter, beating the consensus estimate of $9.02 by $0.13. The business had revenue of $4.68 billion during the quarter, compared to analyst estimates of $4.61 billion. Reliance Steel & Aluminum had a net margin of 10.61% and a return on equity of 27.94%. The company’s quarterly revenue was up 36.9% on a year-over-year basis. During the same period in the previous year, the business posted $5.06 EPS. On average, equities analysts forecast that Reliance Steel & Aluminum will post 26.5 earnings per share for the current year.

In other news, CEO James Donald Hoffman sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $167.78, for a total transaction of $1,677,800.00. Following the completion of the transaction, the chief executive officer now directly owns 142,738 shares of the company’s stock, valued at approximately $23,948,581.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.62% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Worth Asset Management LLC bought a new stake in shares of Reliance Steel & Aluminum in the first quarter worth $28,000. Rational Advisors LLC acquired a new position in shares of Reliance Steel & Aluminum in the fourth quarter valued at about $28,000. Denali Advisors LLC grew its stake in shares of Reliance Steel & Aluminum by 100.0% in the first quarter. Denali Advisors LLC now owns 200 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 100 shares in the last quarter. National Bank of Canada FI bought a new stake in Reliance Steel & Aluminum during the fourth quarter worth about $33,000. Finally, Sageworth Trust Co of South Dakota bought a new stake in Reliance Steel & Aluminum during the fourth quarter worth about $33,000. 81.84% of the stock is owned by institutional investors.

Reliance Steel & Aluminum Co operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries.

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