Extremely important negative changes in investment behavior have recently occurred for Reliance Steel & Aluminum Co (NYSE: RS): the stock’s recent price decline challenged its longer term uptrend, and its shorter term price trend turned down.
Significant negative changes in Reliance Steel & Aluminum Co (NYSE: RS) fundamentals have recently occurred. Negative developments: significant quarterly sales deceleration occurred, the consensus estimate for December, 2024 decreased significantly, and the consensus estimate for December, 2025 decreased significantly. Positive development: significant quarterly earnings acceleration occurred.
In light of these highly negative signals we are reviewing our current Overall Rating of C. We would view the shares with caution pending completion of this review in the next several days.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, RS is expected to continue to be an important Value Builder.
Reliance Steel & Aluminum has a current Value Trend Rating of C (Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing consistent signals. Reliance Steel & Aluminum has a slightly positive Appreciation Score of 62 and a neutral Power Rating of 48, and the Neutral Value Trend Rating results.
Recent Price Action
On 8/2/24, Reliance Steel & Aluminum Co (NYSE: RS) stock declined by -2.9%, closing at $287.22. NORMAL trading volume accompanied the decline. The stock has performed in line with the market over the last nine months and has declined -6.8% during the last week.
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