Reliance Steel & Aluminum (RS) – Investment Analysts’ Weekly Ratings Changes

A number of firms have modified their ratings and price targets on shares of Reliance Steel & Aluminum (NYSE: RS) recently:

  • 11/14/2019 – Reliance Steel & Aluminum is now covered by analysts at Exane BNP Paribas. They set a “neutral” rating and a $117.00 price target on the stock.
  • 11/13/2019 – Reliance Steel & Aluminum had its price target raised by analysts at KeyCorp from $120.00 to $125.00. They now have an “overweight” rating on the stock.
  • 10/30/2019 – Reliance Steel & Aluminum was downgraded by analysts at Deutsche Bank AG from a “buy” rating to a “hold” rating. They now have a $110.00 price target on the stock, up previously from $105.00.
  • 10/29/2019 – Reliance Steel & Aluminum had its “outperform” rating reaffirmed by analysts at Cowen Inc. They now have a $123.00 price target on the stock, up previously from $107.00.
  • 10/25/2019 – Reliance Steel & Aluminum was given a new $115.00 price target on by analysts at Bank of America Corp. They now have a “hold” rating on the stock.
  • 10/25/2019 – Reliance Steel & Aluminum was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 10/7/2019 – Reliance Steel & Aluminum was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 10/4/2019 – Reliance Steel & Aluminum was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. They now have a $103.00 price target on the stock. According to Zacks, “Earnings estimates for Reliance Steel for the third quarter of 2019 have been stable over the past month. Reliance Steel has outperformed the industry year to date. It should gain from strong demand for its products across aerospace and automotive markets. The company remains committed to boost its market share in aerospace. It is also seeing healthy demand for its processing services in the automotive market. The company should also benefit from acquisitions including All Metals. Reliance Steel also remains committed to boost shareholder returns. However, softer metal prices will hurt the company’s margins in the third quarter. Lower sales volumes will also put pressure on its top line. The company’s high debt level is also a concern. Weakness across heavy industry and semiconductor markets also likely to continue.”

RS opened at $112.94 on Friday. Reliance Steel & Aluminum Co has a twelve month low of $68.62 and a twelve month high of $120.85. The company has a 50-day simple moving average of $106.79 and a 200 day simple moving average of $96.95. The company has a quick ratio of 1.90, a current ratio of 4.01 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $7.77 billion, a price-to-earnings ratio of 12.63, a P/E/G ratio of 1.35 and a beta of 1.34.

Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.95 by $0.44. Reliance Steel & Aluminum had a net margin of 5.48% and a return on equity of 12.52%. The business had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the prior year, the business posted $2.42 earnings per share. Reliance Steel & Aluminum’s revenue was down 9.7% compared to the same quarter last year. Sell-side analysts anticipate that Reliance Steel & Aluminum Co will post 9.59 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a dividend of $0.55 per share. The ex-dividend date is Thursday, November 14th. This represents a $2.20 annualized dividend and a yield of 1.95%. Reliance Steel & Aluminum’s dividend payout ratio is 24.61%.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Reliance Steel & Aluminum by 2.8% in the second quarter. Vanguard Group Inc. now owns 6,495,340 shares of the industrial products company’s stock valued at $614,590,000 after buying an additional 178,013 shares during the period. Victory Capital Management Inc. increased its stake in shares of Reliance Steel & Aluminum by 0.6% in the second quarter. Victory Capital Management Inc. now owns 4,114,555 shares of the industrial products company’s stock valued at $389,319,000 after buying an additional 22,803 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Reliance Steel & Aluminum by 7.6% in the second quarter. Bank of New York Mellon Corp now owns 983,535 shares of the industrial products company’s stock valued at $93,062,000 after buying an additional 69,294 shares during the period. Allianz Asset Management GmbH increased its stake in shares of Reliance Steel & Aluminum by 41.5% in the second quarter. Allianz Asset Management GmbH now owns 906,963 shares of the industrial products company’s stock valued at $85,816,000 after buying an additional 266,169 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Reliance Steel & Aluminum by 137.8% in the second quarter. Wells Fargo & Company MN now owns 865,529 shares of the industrial products company’s stock valued at $81,896,000 after buying an additional 501,503 shares during the period. 84.01% of the stock is owned by hedge funds and other institutional investors.

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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