Reliance Steel & Aluminum Co. (RS) Receives Analyst Rating

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.

Reliance Steel & Aluminum Co. (RS) : The highest short term price target forecast on Reliance Steel & Aluminum Co. (RS) is $86 and the lowest target price is $72. A total of 7 equity analysts are currently covering the company. The average price of all the analysts is $78.86 with a standard deviation of $4.91.


Also, Equity Analysts at the Bank of America upgrades the rating on Reliance Steel & Aluminum Co. (NYSE:RS). The brokerage firm has issued a Neutral rating 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): After opening at $67.8, the stock dipped to an intraday low of $67.72 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $69.13 and the buying power remained strong till the end. The stock closed at $68.72 for the day, a gain of 1.27% for the day session. The total traded volume was 605,896. The stocks close on the previous trading day was $67.86.

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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