Jefferies Maintains Reliance Steel & Aluminum Co to Hold with Price Target $72.00

Brokerage firm Jefferies Maintains its rating on Reliance Steel & Aluminum Co(NYSE:RS). In a research note issued to the investors, the brokerage major Raises the price-target to $72.00 per share. The shares have been rated Hold. The rating by Jefferies was issued on Jun 10, 2016.

In a different note, On Apr 28, 2016, Rosenblatt said it Upgrades its rating on Reliance Steel & Aluminum Co. The shares have been rated ‘Neutral’ by the firm. On Apr 22, 2016, CLSA said it Downgrades its rating on Reliance Steel & Aluminum Co. The shares have been rated ‘Underperform’ by the firm. On Apr 22, 2016, Macquarie said it Maintains its rating on Reliance Steel & Aluminum Co. In the research note, the firm Raises the price-target to $70.00 per share. The shares have been rated ‘Outperform’ by the firm. On Apr 19, 2016, Bank of America said it Downgrades its rating on Reliance Steel & Aluminum Co. The shares have been rated ‘Underperform’ by the firm. On Mar 23, 2016, Deutsche Bank said it Downgrades its rating on Reliance Steel & Aluminum Co. The shares have been rated ‘Hold’ by the firm. On Mar 21, 2016, Jefferies said it Downgrades its rating on Reliance Steel & Aluminum Co. The shares have been rated ‘Hold’ by the firm.

Reliance Steel & Aluminum Co (RS) made into the market gainers list on Wednesdays trading session with the shares advancing 0.69% or 0.52 points. Due to strong positive momentum, the stock ended at $75.71, which is also near the day’s high of $76.325. The stock began the session at $75.47 and the volume stood at 4,72,737 shares. The 52-week high of the shares is $78.3 and the 52 week low is $50.08. The company has a current market capitalization of $5,476 M and it has 7,23,32,193 shares in outstanding.

Reliance Steel & Aluminum Co(RS) last announced its earnings results on Apr 21, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $2.16B. Analysts had an estimated revenue of $2.20B. Earnings per share were $1.03. Analysts had estimated an EPS of $0.88.

Several Insider Transactions has been reported to the SEC. On Jun 9, 2016, William A Ii Smith (SVP, General Counsel, Corp Sec) sold 1,183 shares at $77.92 per share price.Also, On Jun 9, 2016, Mark V Kaminski (director) sold 8,000 shares at $77.69 per share price.On Jun 9, 2016, Andrew G Iii Sharkey (director) sold 3,000 shares at $77.75 per share price, according to the Form-4 filing with the securities and exchange commission.

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 100000 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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