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

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Analyst Sees Steel-Dumping Case On Horizon, Launches Sector Coverage
Clarkson Capital Markets Initiates On Metals & Miners

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
Jun 2015JefferiesMaintainsBuy
Apr 2015KeyBancDowngradesOverweightSector Weight
Apr 2015Clarkson Capital MarketsInitiates Coverage onHold

View More Analyst Ratings for RS
View the Latest Analyst Ratings

Posted-In: KeyBanc Capital MarketsAnalyst Color Downgrades Analyst Ratings

 

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