Are Reliance Steel \u0026 Aluminum (NYSE:RS) Shares Reaching An Inflection Point; Deutsche Bank Decides to Downgrades Company

October 2, 2018 - By Ash

Reliance Steel & Aluminum Co. (NYSE:RS) Logo

Investors sentiment increased to 1.09 in Q2 2018. Its up 0.05, from 1.04 in 2018Q1. It improved, as 18 investors sold Reliance Steel & Aluminum Co. shares while 120 reduced holdings. 42 funds opened positions while 109 raised stakes. 59.43 million shares or 3.70% more from 57.31 million shares in 2018Q1 were reported.

28,513 are held by Oregon Pub Employees Retirement Fund. Natixis Advsr Lp invested 0.08% of its portfolio in Reliance Steel & Aluminum Co. (NYSE:RS). Us Commercial Bank De holds 0% of its portfolio in Reliance Steel & Aluminum Co. (NYSE:RS) for 1,703 shares. Texas Permanent School Fund invested 0.06% in Reliance Steel & Aluminum Co. (NYSE:RS). Meeder Asset Mgmt Inc stated it has 0% in Reliance Steel & Aluminum Co. (NYSE:RS). Comerica Retail Bank reported 0.04% stake. Ntv Asset Management Llc has invested 0.07% in Reliance Steel & Aluminum Co. (NYSE:RS). Vident Inv Advisory Limited Liability holds 0.13% of its portfolio in Reliance Steel & Aluminum Co. (NYSE:RS) for 38,552 shares. Lsv Asset Mgmt accumulated 963,374 shares. Captrust Fincl Advsrs owns 0% invested in Reliance Steel & Aluminum Co. (NYSE:RS) for 793 shares. Raymond James Fin Svcs Advisors holds 0% or 2,710 shares in its portfolio. Washington-based Cornerstone has invested 0% in Reliance Steel & Aluminum Co. (NYSE:RS). Employees Retirement Association Of Colorado reported 0.01% in Reliance Steel & Aluminum Co. (NYSE:RS). Alliancebernstein Lp has invested 0% of its portfolio in Reliance Steel & Aluminum Co. (NYSE:RS). Moreover, Pitcairn has 0.03% invested in Reliance Steel & Aluminum Co. (NYSE:RS) for 3,072 shares.

Since May 18, 2018, it had 0 buys, and 4 insider sales for $2.78 million activity. Koch Stephen Paul also sold $1.21 million worth of Reliance Steel & Aluminum Co. (NYSE:RS) on Friday, May 18. On Friday, May 18 KAMINSKI MARK V sold $786,216 worth of Reliance Steel & Aluminum Co. (NYSE:RS) or 8,200 shares.

Reliance Steel \u0026 Aluminum (NYSE:RS) Receives a Downgrade

Deutsche Bank has just given shares of Reliance Steel \u0026 Aluminum (NYSE:RS)an updated Hold rating in an analyst report revealed to investors on 2 October. This is a cut from the previous Buy rating that they had set. The broker now has a $90 target on firm, which suggests the potential for a 5.37 % upside.

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

Among 5 analysts covering Reliance Steel \u0026 Aluminum (NYSE:RS), 2 have Buy rating, 1 Sell and 2 Hold. Therefore 40% are positive. Reliance Steel \u0026 Aluminum has $105 highest and $90 lowest target. $91’s average target is 6.54% above currents $85.41 stock price. Reliance Steel \u0026 Aluminum had 6 analyst reports since June 14, 2018 according to SRatingsIntel. The stock of Reliance Steel & Aluminum Co. (NYSE:RS) has “Buy” rating given on Tuesday, July 10 by Jefferies. The stock of Reliance Steel & Aluminum Co. (NYSE:RS) earned “Overweight” rating by KeyBanc Capital Markets on Thursday, June 14. The firm has “Underperform” rating by Bank of America given on Friday, September 7. The rating was maintained by JP Morgan with “Neutral” on Friday, July 27. The rating was maintained by KeyBanc Capital Markets with “Overweight” on Monday, September 10.

The stock decreased 0.71% or $0.61 during the last trading session, reaching $85.41. About 66,022 shares traded. Reliance Steel & Aluminum Co. (NYSE:RS) has risen 15.37% since October 2, 2017 and is uptrending. It has underperformed by 0.25% the S&P500.

Analysts await Reliance Steel & Aluminum Co. (NYSE:RS) to report earnings on October, 25. They expect $2.70 EPS, up 107.69 % or $1.40 from last year’s $1.3 per share. RS’s profit will be $195.33 million for 7.91 P/E if the $2.70 EPS becomes a reality. After $3.10 actual EPS reported by Reliance Steel & Aluminum Co. for the previous quarter, Wall Street now forecasts -12.90 % negative EPS growth.

Reliance Steel & Aluminum Co. operates as a metals service center company. The company has market cap of $6.18 billion. The firm provides metals processing services and distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products. It has a 7.85 P/E ratio. The Company’s primary processing services comprise cutting, leveling, sawing, machining, and electro polishing.

Another recent and important Reliance Steel & Aluminum Co. (NYSE:RS) news was published by Nasdaq.com which published an article titled: “Investor Expectations to Drive Momentum within Gerdau SA, Chesapeake Utilities, Ford Motor, Twenty-First Century …” on September 28, 2018.

Reliance Steel & Aluminum Co. (NYSE:RS) Institutional Positions Chart

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