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.