Analyst Rating Update on Reliance Steel & Aluminum Co. (RS)

Reliance Steel & Aluminum Co. (NYSE:RS) has an average broker rating of 2.75, which is interpreted as a Hold, as rated by 8 equity analysts. Nonetheless, 2 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. Nevertheless, the majority of 4 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 2, which is also a Buy. 2 considers that the stock is a Sell.

Reliance Steel & Aluminum Co. (NYSE:RS) : Currently there are 8 street experts covering Reliance Steel & Aluminum Co. (NYSE:RS) stock. The most bullish and bearish price target for the stock is $80 and $65 respectively for the short term. The average price target of all the analysts comes to $72.5. The estimated standard deviation from the target is $5.35.

Company shares have received an average consensus rating of Hold for the current week Also, In the latest statement by the brokerage house, Jefferies maintains its outlook on Reliance Steel & Aluminum Co. (NYSE:RS). The current rating of the shares is Hold, according to the research report released by the firm. The brokerage firm raises the price target from $68 per share to $72 per share. The rating by the firm was issued on June 10, 2016.

Reliance Steel & Aluminum Co. (NYSE:RS): stock turned positive on Tuesday. Though the stock opened at $72.95, the bulls momentum made the stock top out at $73.41 level for the day. The stock recorded a low of $72 and closed the trading day at $72.57, in the green by 0.23%. The total traded volume for the day was 1,019,637. The stock had closed at $72.4 in the previous days trading.

In an insider trading activity,The officer (SVP, General Counsel, Corp Sec) of Reliance Steel & Aluminum Co, Smith William A Ii sold 1,183 shares at $77.92 on June 8, 2016. The Insider selling transaction had a total value worth of $92,179. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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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