Dahlman Rose Upgrades Reliance Steel to “Buy” (RS)

Analysts at Dahlamn Rose upgraded metal services company Reliance Steel & Aluminum (RS) on Thursday citing a positive view of a deal with Metal USA.

The analysts upgraded RS from “Hold” to “Buy” with a price target of $89. This target suggests a 27% upside to Wednesday’s closing price of $70.25.

Dahlman analysts say that deal for Reliance Steel to acquire Metal USA should add to the Los Angeles-based company’s earnings.

Reliance Steel shares were down slightly during morning trading on Thursday. The stock is up +28.17% over the past year.

The Bottom Line
Shares of Reliance Steel (RS) have a dividend yield of 1.43% based on Thursday’s intraday trading price of $69.70 and the company’s annualized dividend payout of $1.00 per share.

Reliance Steel & Aluminum (RS) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here