KeyBanc Sticks to Their Buy Rating for Reliance Steel (RS)
In a report released today, Philip Gibbs from KeyBanc maintained a Buy rating on Reliance Steel, with a price target of $325.00.
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According to TipRanks, Gibbs is a 5-star analyst with an average return of 30.5% and a 69.43% success rate. Gibbs covers the Basic Materials sector, focusing on stocks such as Cleveland-Cliffs, ArcelorMittal, and Commercial Metals Company.
Reliance Steel has an analyst consensus of Moderate Buy, with a price target consensus of $314.50.
Based on Reliance Steel’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $3.65 billion and a net profit of $189.5 million. In comparison, last year the company earned a revenue of $3.42 billion and had a net profit of $199.2 million
Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RS in relation to earlier this year. Last month, Stephen Paul Koch, the Exec. VP, COO of RS sold 3,066.00 shares for a total of $869,388.74.
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