KeyBanc Reiterates a Buy Rating on Reliance Steel (RS)

By Austin Angelo

In a report issued on November 27, Philip Gibbs from KeyBanc reiterated a Buy rating on Reliance Steel (RSResearch Report), with a price target of $90. The company’s shares opened today at $79.44.

Gibbs has an average return of 2.7% when recommending Reliance Steel.

According to TipRanks.com, Gibbs is ranked #3435 out of 5131 analysts.

The word on The Street in general, suggests a Hold analyst consensus rating for Reliance Steel with a $92.20 average price target.

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Based on Reliance Steel’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $148 million. In comparison, last year the company had a net profit of $97.3 million.

Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is negative on the stock.

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Reliance Steel & Aluminum Co. engages in processing and distributing of metal products. Its products include alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products.