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UPDATE: KeyBanc Capital Markets Downgrades Reliance Steel & Aluminum to Hold

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Jefferies Staying Defensive On Steel Sector, Highlights Expectation For A Weak End To The Year
Benzinga's Top Upgrades

In a report published Monday, KeyBanc Capital Markets downgraded its rating on Reliance Steel & Aluminum (NYSE: RS) from Buy to Hold.

KeyBanc Capital Markets noted, “We are also becoming more cautious on the U.S. service centers, as we believe challenging 1H13 volume comps and tepid pricing momentum will impact the industry's ability to achieve meaningful gross margin/profit improvement. Accordingly, we are reducing our 2013 EPS estimate on shares of Reliance Steel & Aluminum Co. (RS-NYSE) and downgrading shares to HOLD from BUY.”

Reliance Steel & Aluminum closed on Friday at $64.16.

Latest Ratings for RS

DateFirmActionFromTo
Jul 2016Bank of AmericaUpgradesUnderperformNeutral
Jun 2016JefferiesMaintainsHold
Apr 2016RosenblattUpgradesSellNeutral

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View the Latest Analyst Ratings

Posted-In: KeyBanc Capital MarketsAnalyst Color Downgrades Analyst Ratings

 

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