Dahlman Rose Downgrades Reliance Steel & Aluminum (RS) to Hold; Valuation Call
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Price: $387.89 +1.99%
Rating Summary:
4 Buy, 14 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
4 Buy, 14 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Dahlman Rose downgraded Reliance Steel & Aluminum (NYSE: RS) from Buy to Hold.
Dahlman analyst says, "The management team at Reliance Steel has done a terrific job, in our opinion, of navigating the company though a very volatile marketplace while delivering strong earnings to shareholders. In fact, the shares have rallied nearly 50% (versus a 10% increase in the S&P) since early October and now trade above our $54 price target. If the domestic economy continues to improve, and we think it will, Reliance shares could indeed move higher. However, in that situation we believe the real trade will be one in which shares of companies in its peer group that did not experience the same recent strong appreciation play catch up. Reliance shares have rewarded investors during a volatile environment and, as a result, the risk/reward balance has shifted somewhat, and we believe it now favors shares that have not yet priced in the benefits of an improving domestic economy."
For an analyst ratings summary and ratings history on Reliance Steel & Aluminum click here. For more ratings news on Reliance Steel & Aluminum click here.
Shares of Reliance Steel & Aluminum closed at $55.89 yesterday.
Dahlman analyst says, "The management team at Reliance Steel has done a terrific job, in our opinion, of navigating the company though a very volatile marketplace while delivering strong earnings to shareholders. In fact, the shares have rallied nearly 50% (versus a 10% increase in the S&P) since early October and now trade above our $54 price target. If the domestic economy continues to improve, and we think it will, Reliance shares could indeed move higher. However, in that situation we believe the real trade will be one in which shares of companies in its peer group that did not experience the same recent strong appreciation play catch up. Reliance shares have rewarded investors during a volatile environment and, as a result, the risk/reward balance has shifted somewhat, and we believe it now favors shares that have not yet priced in the benefits of an improving domestic economy."
For an analyst ratings summary and ratings history on Reliance Steel & Aluminum click here. For more ratings news on Reliance Steel & Aluminum click here.
Shares of Reliance Steel & Aluminum closed at $55.89 yesterday.
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