Reliance Steel & Aluminum (RS) Upgraded to “Buy” by Longbow Research

Reliance Steel & Aluminum (NYSE:RS) was upgraded by stock analysts at Longbow Research from a “neutral” rating to a “buy” rating in a report issued on Wednesday, The Fly reports.

Other equities analysts also recently issued research reports about the company. Clarkson Capital restated a “buy” rating on shares of Reliance Steel & Aluminum in a report on Wednesday, November 15th. Zacks Investment Research upgraded Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a report on Monday, October 16th. ValuEngine downgraded Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Cowen restated a “buy” rating and set a $92.00 target price on shares of Reliance Steel & Aluminum in a report on Friday, November 3rd. Finally, KeyCorp set a $95.00 target price on Reliance Steel & Aluminum and gave the company a “buy” rating in a report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $83.50.

Reliance Steel & Aluminum (NYSE RS) opened at $83.47 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.79 and a current ratio of 4.06. The company has a market capitalization of $6,004.58, a P/E ratio of 16.43, a P/E/G ratio of 1.40 and a beta of 1.26. Reliance Steel & Aluminum has a twelve month low of $68.46 and a twelve month high of $92.64.

In other Reliance Steel & Aluminum news, SVP William A. Smith II sold 1,123 shares of the 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 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 filing with the SEC, which is available through the SEC website. 3.18% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cerebellum GP LLC bought a new position in shares of Reliance Steel & Aluminum during the fourth quarter valued at $106,000. Grove Bank & Trust increased its holdings in shares of Reliance Steel & Aluminum by 117.8% during the third quarter. Grove Bank & Trust now owns 1,590 shares of the industrial products company’s stock valued at $121,000 after acquiring an additional 860 shares in the last quarter. Huntington National Bank increased its holdings in shares of Reliance Steel & Aluminum by 267.8% during the third quarter. Huntington National Bank now owns 1,611 shares of the industrial products company’s stock valued at $123,000 after acquiring an additional 1,173 shares in the last quarter. Zions Bancorporation bought a new position in shares of Reliance Steel & Aluminum during the third quarter valued at $144,000. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Reliance Steel & Aluminum by 633.3% during 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 acquiring an additional 2,204 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

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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).

The Fly

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

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