Reliance Steel & Aluminum Co. (RS) Reaches $94.57 52-Week High; Redwood Investments Has Boosted By $329,925 Its Truecar (TRUE) Holding

February 19, 2018 - By Darrin Black

The stock of Reliance Steel & Aluminum Co. (NYSE:RS) hit a new 52-week high and has $101.19 target or 7.00% above today’s $94.57 share price. The 6 months bullish chart indicates low risk for the $6.90 billion company. The 1-year high was reported on Feb, 19 by Barchart.com. If the $101.19 price target is reached, the company will be worth $482.72 million more. The stock increased 3.39% or $3.1 during the last trading session, reaching $94.57. About 1.23 million shares traded or 176.52% up from the average. Reliance Steel & Aluminum Co. (NYSE:RS) has risen 0.13% since February 19, 2017 and is uptrending. It has underperformed by 16.57% the S&P500.

Redwood Investments Llc increased Truecar Inc. (TRUE) stake by 7.55% reported in 2017Q3 SEC filing. Redwood Investments Llc acquired 21,995 shares as Truecar Inc. (TRUE)’s stock rose 21.77%. The Redwood Investments Llc holds 313,434 shares with $4.95M value, up from 291,439 last quarter. Truecar Inc. now has $1.12B valuation. The stock decreased 6.13% or $0.73 during the last trading session, reaching $11.18. About 8.45 million shares traded or 396.47% up from the average. TrueCar, Inc. (NASDAQ:TRUE) has risen 161.73% since February 19, 2017 and is uptrending. It has outperformed by 145.03% the S&P500.

Among 14 analysts covering TrueCar (NASDAQ:TRUE), 8 have Buy rating, 1 Sell and 5 Hold. Therefore 57% are positive. TrueCar had 39 analyst reports since July 24, 2015 according to SRatingsIntel. The rating was upgraded by B. Riley & Co to “Neutral” on Tuesday, August 30. The company was upgraded on Monday, October 2 by Morgan Stanley. JP Morgan downgraded the stock to “Neutral” rating in Friday, July 24 report. The stock of TrueCar, Inc. (NASDAQ:TRUE) has “Outperform” rating given on Monday, February 6 by RBC Capital Markets. The stock of TrueCar, Inc. (NASDAQ:TRUE) earned “Buy” rating by Craig Hallum on Wednesday, August 9. As per Friday, August 7, the company rating was maintained by B Riley. The stock has “Sector Perform” rating by RBC Capital Markets on Friday, November 6. Topeka Capital Markets initiated the stock with “Hold” rating in Tuesday, April 5 report. FBR Capital maintained the stock with “Buy” rating in Tuesday, November 7 report. As per Wednesday, October 11, the company rating was reinitiated by Goldman Sachs.

Redwood Investments Llc decreased Mks Instruments Inc. (NASDAQ:MKSI) stake by 22,546 shares to 119,663 valued at $11.30M in 2017Q3. It also reduced Abiomed Inc. (NASDAQ:ABMD) stake by 33,286 shares and now owns 27,342 shares. Logmein Inc. (NASDAQ:LOGM) was reduced too.

Investors sentiment increased to 2.16 in Q3 2017. Its up 0.25, from 1.91 in 2017Q2. It improved, as 24 investors sold TRUE shares while 19 reduced holdings. 35 funds opened positions while 58 raised stakes. 82.38 million shares or 7.55% more from 76.60 million shares in 2017Q2 were reported. Walleye Trading Limited Co has 0% invested in TrueCar, Inc. (NASDAQ:TRUE). Ny State Common Retirement Fund accumulated 108,404 shares or 0% of the stock. Blackrock Inc reported 0% in TrueCar, Inc. (NASDAQ:TRUE). Jpmorgan Chase & Com accumulated 2,539 shares. First Trust Lp invested in 2.85M shares. Barclays Public Ltd Liability Corporation stated it has 69,900 shares or 0% of all its holdings. Bamco Ny stated it has 0.02% of its portfolio in TrueCar, Inc. (NASDAQ:TRUE). Millennium Ltd Liability invested 0.02% of its portfolio in TrueCar, Inc. (NASDAQ:TRUE). Cortina Asset Ltd Company stated it has 384,965 shares or 0.25% of all its holdings. Profund Advsr Limited Liability Company stated it has 0.05% of its portfolio in TrueCar, Inc. (NASDAQ:TRUE). Redwood Invs has invested 0.56% of its portfolio in TrueCar, Inc. (NASDAQ:TRUE). Wasatch Advsrs Inc invested in 0.52% or 2.41 million shares. Vident Inv Advisory Ltd Limited Liability Company invested in 0.01% or 15,027 shares. 117,408 are held by Engineers Gate Manager L P. Park West Asset Mgmt Llc stated it has 1.09 million shares or 1.02% of all its holdings.

Among 9 analysts covering Reliance Steel (NYSE:RS), 7 have Buy rating, 0 Sell and 2 Hold. Therefore 78% are positive. Reliance Steel has $107.0 highest and $31 lowest target. $97.20’s average target is 2.78% above currents $94.57 stock price. Reliance Steel had 38 analyst reports since September 8, 2015 according to SRatingsIntel. On Thursday, August 31 the stock rating was maintained by Cowen & Co with “Buy”. The rating was downgraded by Bank of America on Tuesday, April 19 to “Underperform”. Jefferies maintained Reliance Steel & Aluminum Co. (NYSE:RS) on Tuesday, January 9 with “Hold” rating. The rating was maintained by Cowen & Co on Friday, July 22 with “Outperform”. The firm has “Buy” rating given on Friday, June 23 by Deutsche Bank. The stock has “Overweight” rating by KeyBanc Capital Markets on Monday, January 9. Cowen & Co maintained it with “Buy” rating and $101.0 target in Thursday, January 4 report. The firm has “Hold” rating by Jefferies given on Tuesday, May 30. The rating was maintained by Deutsche Bank on Monday, December 5 with “Buy”. On Thursday, July 6 the stock rating was maintained by Jefferies with “Hold”.

Reliance Steel & Aluminum Co. operates as a metals service center company. The company has market cap of $6.90 billion. The firm provides metals processing services and distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products. It has a 11.34 P/E ratio. The Company’s primary processing services comprise cutting, leveling, sawing, machining, and electro polishing.

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