Reliance Steel & Aluminum (NYSE:RS) has been assigned a $108.00 price target by research analysts at Cowen in a report released on Friday, TipRanks reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Cowen’s target price would suggest a potential upside of 4.85% from the company’s current price.

RS has been the topic of several other reports. ValuEngine lowered Welbilt from a “hold” rating to a “sell” rating in a research report on Friday. Longbow Research lowered Reliance Steel & Aluminum from a “neutral” rating to an “underperform” rating and set a $76.00 price target on the stock. in a research report on Thursday, April 18th. Jefferies Financial Group lowered Reliance Steel & Aluminum from a “buy” rating to a “hold” rating and reduced their price target for the stock from $105.00 to $100.00 in a research report on Friday, April 26th. KeyCorp raised their price target on Tempur Sealy International from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Bank of America set a $77.00 price target on Zscaler and gave the stock a “neutral” rating in a research report on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $98.89.

Shares of Reliance Steel & Aluminum stock traded up $1.91 during trading on Friday, hitting $103.00. 802,366 shares of the stock traded hands, compared to its average volume of 485,926. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.85 and a current ratio of 4.42. The company has a market capitalization of $6.93 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 1.27 and a beta of 1.31. The business has a fifty day simple moving average of $91.83. Reliance Steel & Aluminum has a 52 week low of $68.62 and a 52 week high of $105.25.

Reliance Steel & Aluminum (NYSE:RS) last announced its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.60 by $0.11. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.93 billion. Reliance Steel & Aluminum had a return on equity of 12.85% and a net margin of 5.22%. The company’s revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the company earned $3.10 EPS. As a group, sell-side analysts expect that Reliance Steel & Aluminum will post 9.05 earnings per share for the current year.

In other news, VP Stephen Paul Koch sold 11,333 shares of Reliance Steel & Aluminum stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $91.62, for a total value of $1,038,329.46. Following the sale, the vice president now directly owns 22,187 shares in the company, valued at approximately $2,032,772.94. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Jeffrey Wayne Durham sold 2,675 shares of Reliance Steel & Aluminum stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $92.29, for a total value of $246,875.75. Following the completion of the sale, the vice president now owns 8,255 shares in the company, valued at $761,853.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,008 shares of company stock worth $3,580,455. 3.43% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of RS. Dimensional Fund Advisors LP grew its position in shares of Reliance Steel & Aluminum by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,581,111 shares of the industrial products company’s stock worth $183,704,000 after buying an additional 21,911 shares during the last quarter. Legal & General Group Plc grew its position in shares of Reliance Steel & Aluminum by 5.6% in the 4th quarter. Legal & General Group Plc now owns 119,050 shares of the industrial products company’s stock worth $8,473,000 after buying an additional 6,270 shares during the last quarter. Macquarie Group Ltd. grew its position in shares of Reliance Steel & Aluminum by 2.8% in the 4th quarter. Macquarie Group Ltd. now owns 115,563 shares of the industrial products company’s stock worth $8,225,000 after buying an additional 3,199 shares during the last quarter. HRT Financial LLC bought a new stake in shares of Reliance Steel & Aluminum in the 4th quarter worth approximately $254,000. Finally, Advisory Services Network LLC grew its position in shares of Reliance Steel & Aluminum by 982.9% in the 4th quarter. Advisory Services Network LLC now owns 444 shares of the industrial products company’s stock worth $32,000 after buying an additional 403 shares during the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Reliance Steel & Aluminum Company Profile

Reliance Steel & Aluminum Co operates as a metals service center company. The company provides alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products and related processing services to general manufacturing, non-residential construction, transportation, aerospace and defense, energy, electronics and semiconductor fabrication, auto, and heavy industries.

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Analyst Recommendations for Reliance Steel & Aluminum (NYSE:RS)

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