Breaking: Reliance Steel (NYSE:RS) Hold Rating Kept by Jefferies Today; The PT Given is $72.0000

July 26, 2017 - By Marguerite Chambers

 Breaking: Reliance Steel (NYSE:RS) Hold Rating Kept by Jefferies Today; The PT Given is $72.0000

Investors sentiment decreased to 0.91 in Q4 2016. Its down 0.19, from 1.1 in 2016Q3. It is negative, as 39 investors sold Reliance Steel & Aluminum Co shares while 121 reduced holdings. 45 funds opened positions while 100 raised stakes. 58.43 million shares or 0.90% less from 58.97 million shares in 2016Q3 were reported.

Acadian Asset Mngmt Limited Liability Com has invested 0.64% in Reliance Steel & Aluminum Co (NYSE:RS). Hightower Advisors Ltd Com invested in 34,710 shares. Old Mutual Customised Solutions (Proprietary) Ltd has 0.03% invested in Reliance Steel & Aluminum Co (NYSE:RS). Moreover, Manufacturers Life Insurance The has 0.01% invested in Reliance Steel & Aluminum Co (NYSE:RS) for 98,858 shares. 163,128 are owned by Robeco Institutional Asset Bv. Moreover, Eagle Asset Mngmt has 0.03% invested in Reliance Steel & Aluminum Co (NYSE:RS) for 50,815 shares. M&T Bancshares Corporation reported 6,626 shares stake. Mckinley Capital Management Llc Delaware reported 3,120 shares or 0.01% of all its holdings. Engineers Gate Manager Limited Partnership has 20,609 shares for 0.18% of their portfolio. Bnp Paribas Invest Prtnrs Sa reported 6,489 shares stake. Moreover, Earnest Ptnrs Limited Liability Corporation has 0% invested in Reliance Steel & Aluminum Co (NYSE:RS). Tiaa Cref Lc reported 271,161 shares. Pillar Pacific Capital Mgmt stated it has 0.05% of its portfolio in Reliance Steel & Aluminum Co (NYSE:RS). State Treasurer State Of Michigan invested 0.02% in Reliance Steel & Aluminum Co (NYSE:RS). Grantham Mayo Van Otterloo & Limited Liability has invested 0.02% of its portfolio in Reliance Steel & Aluminum Co (NYSE:RS).

Since February 21, 2017, it had 0 insider buys, and 4 sales for $2.97 million activity. Sharkey Andrew G III had sold 2,000 shares worth $173,875 on Tuesday, February 21. $493,500 worth of Reliance Steel & Aluminum Co (NYSE:RS) was sold by HAYES DOUGLAS M. MOLLINS GREGG J also sold $116,297 worth of Reliance Steel & Aluminum Co (NYSE:RS) shares. The insider HANNAH DAVID H sold $2.18 million.

Reliance Steel (NYSE:RS) Rating Reaffirmed

Jefferies now has a $72.0000 PT on shares of Reliance Steel (NYSE:RS). The PT means a potential downside of -5.52 % from the last stock close price of Reliance Steel (NYSE:RS). This rating was disclosed in a note on Wednesday, 19 July.

Investors sentiment decreased to 0.91 in Q4 2016. Its down 0.19, from 1.1 in 2016Q3. It is negative, as 39 investors sold Reliance Steel & Aluminum Co shares while 121 reduced holdings. 45 funds opened positions while 100 raised stakes. 58.43 million shares or 0.90% less from 58.97 million shares in 2016Q3 were reported.

Acadian Asset Mngmt Limited Liability Com has invested 0.64% in Reliance Steel & Aluminum Co (NYSE:RS). Hightower Advisors Ltd Com invested in 34,710 shares. Old Mutual Customised Solutions (Proprietary) Ltd has 0.03% invested in Reliance Steel & Aluminum Co (NYSE:RS). Moreover, Manufacturers Life Insurance The has 0.01% invested in Reliance Steel & Aluminum Co (NYSE:RS) for 98,858 shares. 163,128 are owned by Robeco Institutional Asset Bv. Moreover, Eagle Asset Mngmt has 0.03% invested in Reliance Steel & Aluminum Co (NYSE:RS) for 50,815 shares. M&T Bancshares Corporation reported 6,626 shares stake. Mckinley Capital Management Llc Delaware reported 3,120 shares or 0.01% of all its holdings. Engineers Gate Manager Limited Partnership has 20,609 shares for 0.18% of their portfolio. Bnp Paribas Invest Prtnrs Sa reported 6,489 shares stake. Moreover, Earnest Ptnrs Limited Liability Corporation has 0% invested in Reliance Steel & Aluminum Co (NYSE:RS). Tiaa Cref Lc reported 271,161 shares. Pillar Pacific Capital Mgmt stated it has 0.05% of its portfolio in Reliance Steel & Aluminum Co (NYSE:RS). State Treasurer State Of Michigan invested 0.02% in Reliance Steel & Aluminum Co (NYSE:RS). Grantham Mayo Van Otterloo & Limited Liability has invested 0.02% of its portfolio in Reliance Steel & Aluminum Co (NYSE:RS).

Since February 21, 2017, it had 0 insider buys, and 4 sales for $2.97 million activity. Sharkey Andrew G III had sold 2,000 shares worth $173,875 on Tuesday, February 21. $493,500 worth of Reliance Steel & Aluminum Co (NYSE:RS) was sold by HAYES DOUGLAS M. MOLLINS GREGG J also sold $116,297 worth of Reliance Steel & Aluminum Co (NYSE:RS) shares. The insider HANNAH DAVID H sold $2.18 million.

Reliance Steel & Aluminum Co (NYSE:RS) Ratings Coverage

Among 9 analysts covering Reliance Steel (NYSE:RS), 6 have Buy rating, 0 Sell and 3 Hold. Therefore 67% are positive. Reliance Steel has $95 highest and $68 lowest target. $84.33’s average target is 10.65% above currents $76.21 stock price. Reliance Steel had 21 analyst reports since September 8, 2015 according to SRatingsIntel. On Monday, January 9 the stock rating was upgraded by KeyBanc Capital Markets to “Overweight”. The firm earned “Buy” rating on Tuesday, October 20 by Deutsche Bank. Cowen & Co maintained the stock with “Outperform” rating in Friday, July 22 report. The rating was downgraded by Bank of America to “Underperform” on Tuesday, April 19. Jefferies maintained Reliance Steel & Aluminum Co (NYSE:RS) rating on Thursday, July 6. Jefferies has “Hold” rating and $7700 target. The stock of Reliance Steel & Aluminum Co (NYSE:RS) earned “Buy” rating by Clarksons Platou on Tuesday, October 18. The rating was maintained by Deutsche Bank with “Buy” on Monday, December 5. Jefferies maintained Reliance Steel & Aluminum Co (NYSE:RS) on Wednesday, July 19 with “Hold” rating. Bank of America downgraded the shares of RS in report on Friday, February 19 to “Neutral” rating. The firm has “Buy” rating by Deutsche Bank given on Friday, June 23.

It closed at $76.21 lastly. It is down 0.13% since July 26, 2016 and is uptrending. It has underperformed by 16.57% the S&P500.

Analysts await Reliance Steel & Aluminum Co (NYSE:RS) to report earnings on July, 27 before the open. They expect $1.37 EPS, up 0.74 % or $0.01 from last year’s $1.36 per share. RS’s profit will be $102.29 million for 13.91 P/E if the $1.37 EPS becomes a reality. After $1.52 actual EPS reported by Reliance Steel & Aluminum Co for the previous quarter, Wall Street now forecasts -9.87 % negative EPS growth.

Reliance Steel & Aluminum Co. is a metals service center firm in North America . The company has market cap of $5.69 billion. As of December 31, 2016, the Company’s network of metals service centers operated over 300 locations in 39 states in the United States and in 12 other countries (Australia, Belgium, Canada, China, France, Malaysia, Mexico, Singapore, South Korea, Turkey, the United Arab Emirates and the United Kingdom). It has a 17.25 P/E ratio. As of December 31, 2016, it provided metals processing services and distributes a range of more than 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium and specialty steel products in a range of industries.

More notable recent Reliance Steel & Aluminum Co (NYSE:RS) news were published by: Seekingalpha.com which released: “Reliance Steel & Aluminum (RS) Q4 2016 Results – Earnings Call Transcript” on February 16, 2017, also Nasdaq.com with their article: “Reliance Steel & Aluminum Co. to Announce Second Quarter 2017 Results on …” published on July 13, 2017, Globenewswire.com published: “Reliance Steel & Aluminum Co. Announces Updated Guidance for the Second …” on June 19, 2017. More interesting news about Reliance Steel & Aluminum Co (NYSE:RS) were released by: Seekingalpha.com and their article: “Reliance Steel & Aluminum’s (RS) CEO Gregg Mollins on Q1 2017 Results …” published on April 27, 2017 as well as Seekingalpha.com‘s news article titled: “Price Target For Reliance Steel & Aluminum” with publication date: May 14, 2017.

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