Stock Rating Upgrade
The Value Trend Rating for Reliance Steel & Aluminum Co (NYSE: RS) improved recently from C to B reflecting improving fundamentals and high Appreciation Potential. Details supporting this higher rating are included in our next report.
Recent Price Action
Reliance Steel & Aluminum Co (NYSE: RS) stock closed at $337.08 on 4/8/24 after a slight decline of -0.9%. Trading volume in this decline was normal. Relative to the market the stock has been strong over the last nine months and has risen 0.9% during the last week.
Current PriceTarget Research Rating
RS is expected to continue to be an important Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Reliance Steel & Aluminum has a current Value Trend Rating of B (Positive). This VT Rating improved in recent days from C previously. The Value Trend Rating reflects inconsistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Reliance Steel & Aluminum has a neutral Appreciation Score of 54 but a good Power Rating of 82, triggering the Positive Value Trend Rating.
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