Reliance Steel & Aluminum Co. (RS) Receives Price Target

Reliance Steel & Aluminum Co. (RS) : 7 investment research analysts covering Reliance Steel & Aluminum Co. (RS) have an average price target of $78.86 for the near short term. The highest target price given by the Brokerage Firm to the stock is $86 and the lowest target is $72 for the short term. Analysts expect the variance to be within $4.91 of the average price.

Reliance Steel & Aluminum Co. (RS) : Zacks Investment Research ranks Reliance Steel & Aluminum Co. (RS) as 3, which is a Hold recommendation. 2 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. Not everyone is convinced about the stocks future, hence, the stock receives 1 Sell recommendation. A total of 5 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 8 research analysts is 2.63, which indicates as a Hold.


Also, Bank of America upgrades its rating on Reliance Steel & Aluminum Co. (NYSE:RS). Analysts at the Bank of America have a current rating of Neutral on the shares. The shares were previously rated Underperform. The rating by the firm was issued on July 28, 2016.

Reliance Steel & Aluminum Co. (NYSE:RS): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $72.28 and $71.70 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $72.82. The buying momentum continued till the end and the stock did not give up its gains. It closed at $72.50, notching a gain of 0.58% for the day. The total traded volume was 468,193 . The stock had closed at $72.08 on the previous day.

Reliance Steel & Aluminum Co. is a metals service center company in North America. The Company provides a variety of processing services and delivers products to fabricators, manufacturers and other end users. It has a network of more than 300 locations in 39 states in the United States and in 12 other countries, including Australia, Belgium, Canada, China, France, Malaysia, Mexico, Singapore, South Korea, Turkey, the United Arab Emirates and the United Kingdom. It provides metals processing services and distributes a line of more than 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium and specialty steel products. It also provides toll processing of aluminum, carbon steel and stainless steel miscellaneous, including brass, copper and titanium, and offers processing services, which range from cutting, leveling or sawing to complete processes, such as machining or electropolishing.

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