At the time of writing, Reliance Steel & Aluminum Co. [RS] stock is trading at $211.58, down -0.63%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The RS shares have gain 4.39% over the last week, with a monthly amount glided 10.98%, and seem to be holding up well over a long-time horizon.
On 16, November 2022, Reliance Steel & Aluminum Co. Announces Participation at the Goldman Sachs Global Metals & Mining Conference. In a post published today on Yahoo Finance, Reliance Steel & Aluminum Co. (NYSE: RS) announced today that James Hoffman, Chief Executive Officer, Karla Lewis, President, and Arthur Ajemyan, Senior Vice President and Chief Financial Officer, will participate in the Goldman Sachs Global Metals & Mining Conference on Thursday, November 17, 2022 at the Goldman Sachs Conference Center in New York City. Reliance is scheduled to present at 9:45 a.m. ET and will participate in meetings with investors throughout the day.
From an analyst’s perspective:
Reliance Steel & Aluminum Co. [NYSE: RS] stock has seen the most recent analyst activity on October 06, 2022, when Goldman downgraded its rating to a Neutral and also revised its price target to $201 from $218. Previously, BMO Capital Markets started tracking the stock with Outperform rating on August 15, 2022, and set its price target to $230. On April 29, 2022, upgrade upgraded it’s rating to Outperform but maintained its price target of $226 on the stock. Exane BNP Paribas upgraded its rating to a Outperform. Wolfe Research upgraded its rating to a Peer Perform and raised its price target to $159 on January 28, 2022. Wolfe Research started tracking with a Underperform rating for this stock on November 17, 2021, and assigned it a price target of $158. In a note dated November 04, 2021, Goldman upgraded an Buy rating on this stock and boosted its target price from $162 to $190.
For the past year, the stock price of Reliance Steel & Aluminum Co. fluctuated between $145.79 and $213.37. Currently, Wall Street analysts expect the stock to reach $222.17 within the next 12 months. Reliance Steel & Aluminum Co. [NYSE: RS] shares were valued at $211.58 at the most recent close of the market. An investor can expect a potential return of 5.01% based on the average RS price forecast.
Analyzing the RS fundamentals
According to Reliance Steel & Aluminum Co. [NYSE:RS], the company’s sales were 4.25 billion in the recent quarter, which represents an 10.40% jump. Gross Margin for this corporation currently stands at +30.23% with Operating Margin at +13.86%, Pretax Margin comes in at +13.36%, and Net Margin reading is +10.03%.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 210.40 points at the first support level, and at 209.22 for the second support level. However, for the 1st resistance point, the stock is sitting at 213.93, and for the 2nd resistance point, it is at 216.28.
Reliance Steel & Aluminum Co. [RS] reported earnings per share of $6.48 for its fiscal quarter that ended on 9/29/2022. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $6.19/share, meaning a difference of $0.29 and a surprise factor of 4.70%. By comparison, the stated earnings for the previous quarter ended on 6/29/2022 were $9.15 per share as compared to estimates of $9.01 per share, a difference of $0.14 representing a surprise of 1.60%.
Ratios To Look Out For
It is important to note that Reliance Steel & Aluminum Co. [NYSE:RS] has a current ratio of 3.30. Further, the Quick Ratio stands at 1.97, while the Cash Ratio is 0.28. Considering the valuation of this stock, the price to sales ratio is 0.74, the price to book ratio is 1.65 and the P/E (TTM) ratio is 6.92.
Transactions by insiders
Insider trading, which has resulted in 0 insider purchases of 0 shares and 4 insider sales of 10,000 shares in the past three months, is now the topic of our analysis. Recent insider trading involved HOFFMAN JAMES DONALD, CEO, that happened on Oct 06 when 10000.0 shares were sold. SVP, CFO, Ajemyan Arthur completed a deal on Aug 16 to sell 1000.0 shares. Meanwhile, SVP, General Counsel, Corp Sec Smith William A II sold 2954.0 shares on Aug 10.