Deutsche Bank Analysts Give Reliance Steel & Aluminum (NYSE:RS) a $100.00 Price Target

Deutsche Bank set a $100.00 target price on Reliance Steel & Aluminum (NYSE:RS) in a research report sent to investors on Thursday morning, Stock Target Advisor reports. The firm currently has a buy rating on the industrial products company’s stock.

Several other equities analysts have also recently commented on RS. Longbow Research cut shares of Reliance Steel & Aluminum from a neutral rating to an underperform rating and set a $76.00 target price for the company. in a research note on Thursday, April 18th. Cowen set a $100.00 price objective on shares of Reliance Steel & Aluminum and gave the company a buy rating in a research note on Wednesday, June 26th. Citigroup set a $98.00 price objective on shares of Reliance Steel & Aluminum and gave the company a hold rating in a research note on Monday, May 20th. Jefferies Financial Group cut shares of Reliance Steel & Aluminum from a buy rating to a hold rating and dropped their price objective for the company from $105.00 to $100.00 in a research note on Friday, April 26th. Finally, Bank of America set a $77.00 price objective on shares of Zscaler and gave the company a neutral rating in a research note on Friday, May 31st. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $96.10.

NYSE:RS opened at $91.84 on Thursday. The firm has a market cap of $6.11 billion, a PE ratio of 10.27, a P/E/G ratio of 1.10 and a beta of 1.31. Reliance Steel & Aluminum has a one year low of $68.62 and a one year high of $95.66. The firm’s fifty day moving average is $89.19. The company has a current ratio of 4.06, a quick ratio of 1.85 and a debt-to-equity ratio of 0.47.

Reliance Steel & Aluminum (NYSE:RS) last released its earnings results on Thursday, April 25th. The industrial products company reported $2.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.38 by $0.42. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Reliance Steel & Aluminum had a net margin of 5.58% and a return on equity of 13.70%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.30 EPS. On average, research analysts forecast that Reliance Steel & Aluminum will post 9.17 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 24th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date was Thursday, May 23rd. Reliance Steel & Aluminum’s dividend payout ratio is 24.61%.

In other news, Director Gregg J. Mollins sold 25,000 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $91.81, for a total value of $2,295,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Stephen Paul Koch sold 11,333 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $91.62, for a total transaction of $1,038,329.46. Following the completion of the transaction, the vice president now owns 22,187 shares of the company’s stock, valued at approximately $2,032,772.94. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,008 shares of company stock valued at $3,580,455. Corporate insiders own 3.43% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of RS. Advisory Services Network LLC grew its holdings in shares of Reliance Steel & Aluminum by 982.9% in the 4th quarter. Advisory Services Network LLC now owns 444 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 403 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Reliance Steel & Aluminum by 279.1% in the 1st quarter. Quadrant Capital Group LLC now owns 436 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 321 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Reliance Steel & Aluminum by 166.0% in the 1st quarter. Parallel Advisors LLC now owns 532 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 332 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of Reliance Steel & Aluminum in the 1st quarter worth about $60,000. Finally, Hilton Capital Management LLC bought a new stake in shares of Reliance Steel & Aluminum in the 1st quarter worth about $99,000. 81.41% of the stock is currently owned by institutional investors and hedge funds.

Reliance Steel & Aluminum Company Profile

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

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