Market Overview

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

Share:
Related RS
Benzinga's Top Upgrades, Downgrades For May 23, 2017
The Market In 5 Minutes

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
May 2017Bank of AmericaUpgradesNeutralBuy
Apr 2017Longbow ResearchInitiates Coverage OnNeutral
Mar 2017MacquarieUpgradesNeutralOutperform

View More Analyst Ratings for RS
View the Latest Analyst Ratings

Posted-In: KeyBanc Capital MarketsAnalyst Color Downgrades Analyst Ratings

 

Related Articles (RS)

View Comments and Join the Discussion!