Reliance Steel Receives a Hold from Jefferies

Jefferies analyst Seth Rosenfeld reiterated a Hold rating on Reliance Steel (NYSE: RS) today. The company’s shares closed yesterday at $72.23.

According to TipRanks.com, Rosenfeld is a 1-star analyst with an average return of -0.3% and a 48.5% success rate. Rosenfeld covers the Basic Materials sector, focusing on stocks such as Commercial Metals Company, Worthington Industries, and United States Steel.

Reliance Steel has an analyst consensus of Hold, with a price target consensus of $74.

The company has a one year high of $84.25 and a one year low of $50.08. Currently, Reliance Steel has an average volume of 576.8K.

Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is negative on the stock. Last month, Douglas Hayes, a a Director at RS sold 3,383 shares for a total of $248,414.

Reliance Steel & Aluminum Co. is a metals service center company, which engages in processing and distribution of metals. Its products include Alloy Steel, Aluminum, Brass and Copper, Carbon Steel, Stainless Steel, and Titanium. Its services include bean bar and tube cutting, bending, forming and shaping, coil and flat roll processing, machining and manufacturing, plate and sheet cutting and burning, and special services. The company was founded by Thomas J. Neilan on February 3, 1939 and is headquartered in Los Angeles, CA.