04 JULY 2013www.watchlistnews.com
Zacks downgrades Reliance Steel & Aluminum to “Underperform” rating
Edited by : AL CIRCLE
2 min read
Reliance Steel & Aluminum Co. was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued on Tuesday, ARN reports. They currently have a $60.00 price target on the stock. Zacks' price target would suggest a potential downside of 9.52% from the stock’s previous close.
Reliance Steel & Aluminum Co. traded down 0.97% on Tuesday, hitting $65.67. Reliance Steel & Aluminum Co. has a 52-week low of $44.91 and a 52-week high of $72.90. The stock’s 50-day moving average is currently $66.02. The company has a market cap of $5.036 billion and a price-to-earnings ratio of 13.59.
Reliance Steel & Aluminum Co. has set its Q2 guidance at $1.10-1.20 EPS. Analysts expect that Reliance Steel & Aluminum Co. will post $4.95 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Topeka Capital Markets initiated coverage on shares of Reliance Steel & Aluminum Co. in a research note to investors on Wednesday, June 12th.
They set a “hold” rating and a $70.00 price target on the stock. Separately, analysts at Cowen and Company cut their price target on shares of Reliance Steel & Aluminum Co. from $89.00 to $75.00 in a research note to investors on Tuesday, April 30th.
They now have a “buy” rating on the stock. Finally, analysts at Goldman Sachs initiated coverage on shares of Reliance Steel & Aluminum Co. in a research note to investors on Tuesday, April 16th. They set a “buy” rating and a $79.00 price target on the stock.
Reliance Steel & Aluminum Co. traded down 0.97% on Tuesday, hitting $65.67. Reliance Steel & Aluminum Co. has a 52-week low of $44.91 and a 52-week high of $72.90. The stock’s 50-day moving average is currently $66.02. The company has a market cap of $5.036 billion and a price-to-earnings ratio of 13.59.
Reliance Steel & Aluminum Co. has set its Q2 guidance at $1.10-1.20 EPS. Analysts expect that Reliance Steel & Aluminum Co. will post $4.95 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Topeka Capital Markets initiated coverage on shares of Reliance Steel & Aluminum Co. in a research note to investors on Wednesday, June 12th.
They set a “hold” rating and a $70.00 price target on the stock. Separately, analysts at Cowen and Company cut their price target on shares of Reliance Steel & Aluminum Co. from $89.00 to $75.00 in a research note to investors on Tuesday, April 30th.
They now have a “buy” rating on the stock. Finally, analysts at Goldman Sachs initiated coverage on shares of Reliance Steel & Aluminum Co. in a research note to investors on Tuesday, April 16th. They set a “buy” rating and a $79.00 price target on the stock.
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