KeyBanc Sticks to Their Buy Rating for Reliance Steel

By Austin Angelo

In a report issued on December 5, Philip Gibbs from KeyBanc reiterated a Buy rating on Reliance Steel (NYSE: RS), with a price target of $84. The company’s shares closed yesterday at $81.20.

According to TipRanks.com, Gibbs is a 1-star analyst with an average return of -1.8% and a 46.3% success rate. Gibbs covers the Basic Materials sector, focusing on stocks such as Universal Stainless & Alloy Products, Schnitzer Steel Industries, and Allegheny Technologies.

Reliance Steel has an analyst consensus of Moderate Buy, with a price target consensus of $92.

The company has a one-year high of $88.58 and a one-year low of $68.46. Currently, Reliance Steel has an average volume of 443.5K.

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Reliance Steel & Aluminum Co. is a metals service center company. It engages in processing and distribution of metals. The company products include alloy steel, aluminum, brass and copper, carbon steel, stainless steel, and titanium.