Reliance Steel (RS) Gets a Buy Rating from KeyBanc

By Ryan Adsit

KeyBanc analyst Philip Gibbs maintained a Buy rating on Reliance Steel (NYSE: RS) today and set a price target of $97. The company’s shares closed on Friday at $85.27.

According to TipRanks.com, Gibbs is a 1-star analyst with an average return of -0.5% and a 50.0% success rate. Gibbs covers the Basic Materials sector, focusing on stocks such as Allegheny Technologies, Timkensteel Corp, and Steel Dynamics.

Currently, the analyst consensus on Reliance Steel is a Moderate Buy with an average price target of $97.33.

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Reliance Steel’s market cap is currently $6.17B and has a P/E ratio of 7.84. The company has a Price to Book ratio of 1.25.

Based on the recent corporate insider activity of 52 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.