Endo Pharmaceuticals (NASDAQ: ENDP), Edwards Lifesciences (NYSE: EW), First Republic Bank (NYSE: FRC), Procter & Gamble (NYSE: PG), Reliance Steel & Aluminum (NYSE: RS) and Legg Mason, Inc. (NYSE: LM) ratings and price targets.
Jefferies Group (NYSE:JEF) reiterated its "Buy" rating on Endo Pharmaceuticals (ENDP).
Canaccord Genuity reiterated its "Buy" rating on Edwards Lifesciences (EW).
Jefferies Group reiterated its "Hold" rating on First Republic Bank (FRC).
Procter & Gamble (PG) was downgraded by BMO Capital Markets from an “Outperform” rating to a “Market Perform” rating.
Reliance Steel & Aluminum (RS) was downgraded by CLSA from an “Outperform” rating to an “Underperform” rating.
Legg Mason, Inc. (LM) was upgraded by Keefe, Bruyette & Woods, Inc from a “Market Perform” rating to an “Outperform” rating.
Showing posts with label Reliance Steel. Show all posts
Showing posts with label Reliance Steel. Show all posts
Tuesday, January 31, 2012
Thursday, December 1, 2011
Reliance (RS) (RLJ) (RNR) (CMC) (DAN) (EDU) Get New Coverage
Reliance Steel & Aluminum (NYSE: RS), RLJ Lodging Trust (NYSE: RLJ), RenaissanceRe Holdings Ltd. (NYSE: RNR), Commercial Metals (NYSE: CMC), Dana Holding Co. (NYSE: DAN) and New Oriental Education & Tech. Group Inc. (NYSE: EDU) getting new coverage from analysts.
Janney Montgomery Scott initiated coverage on RLJ Lodging Trust (RLJ). They placed a “Neutral” rating on the company.
Goldman Sachs (NYSE:GS) initiated coverage on RenaissanceRe Holdings Ltd. (RNR). They placed a “Buy” rating on the company.
Macquarie initiated coverage on Reliance Steel & Aluminum (RS). They placed an “Outperform” rating on the company.
Macquarie initiated coverage on Commercial Metals (CMC). They placed an “Outperform” rating on the company.
RBC Capital initiated coverage on Dana Holding Co. (DAN). They placed a “Sector Perform” rating on the company.
Credit Suisse (NYSE:CS) initiated coverage on New Oriental Education & Tech. Group Inc. (EDU). They placed an “Outperform” rating on the company.
Janney Montgomery Scott initiated coverage on RLJ Lodging Trust (RLJ). They placed a “Neutral” rating on the company.
Goldman Sachs (NYSE:GS) initiated coverage on RenaissanceRe Holdings Ltd. (RNR). They placed a “Buy” rating on the company.
Macquarie initiated coverage on Reliance Steel & Aluminum (RS). They placed an “Outperform” rating on the company.
Macquarie initiated coverage on Commercial Metals (CMC). They placed an “Outperform” rating on the company.
RBC Capital initiated coverage on Dana Holding Co. (DAN). They placed a “Sector Perform” rating on the company.
Credit Suisse (NYSE:CS) initiated coverage on New Oriental Education & Tech. Group Inc. (EDU). They placed an “Outperform” rating on the company.
Thursday, September 1, 2011
Century (CENX) (RS) (DROOY) (FUN) (TSO) (TEF) (DHI) (LEN) (MSL) Upgraded
Century Aluminum (NASDAQ:CENX), Reliance Steel (NYSE:RS), DRDGOLD (NASDAQ:DROOY), Cedar Fair (NYSE:FUN), Tesoro (NYSE:TSO), Telefonica S.A. (NYSE:TEF), DR Horton (NYSE:DHI), Lennar (NYSE:LEN) and Midsouth Bancorp (AMEX:MSL) get upgraded by analysts.
Goldman Sachs (NYSE:GS) upgraded Century Aluminum (CENX) from a "Neutral" rating to a "Sell" rating.
Goldman Sachs upgraded Reliance Steel (RS) from a "Neutral" rating to a "Buy" rating.
Morgan Stanley (NYSE:MS) upgraded DRDGOLD (DROOY) from an "Underweight" rating to an "Equal Weight" rating.
Keybanc Capital upgraded Cedar Fair (FUN) from a "Hold" rating to a "Buy" rating.
RBC Capital upgraded Tesoro (TSO) from a "Sector Perform" rating to an "Outperform" rating.
Sandord Bernstein upgraded Telefonica S.A. (TEF) from an "Underperform" rating to a "Market Perform" rating.
UBS (NYSE:UBS) upgraded DR Horton (DHI) from a "Neutral" rating to a "Buy" rating.
UBS upgraded Lennar (LEN) from a "Neutral" rating to a "Buy" rating.
Raymond James (NYSE:RJF) upgraded Midsouth Bancorp (MSL) from a "Market Perform" rating to a "Strong Buy" rating.
Goldman Sachs (NYSE:GS) upgraded Century Aluminum (CENX) from a "Neutral" rating to a "Sell" rating.
Goldman Sachs upgraded Reliance Steel (RS) from a "Neutral" rating to a "Buy" rating.
Morgan Stanley (NYSE:MS) upgraded DRDGOLD (DROOY) from an "Underweight" rating to an "Equal Weight" rating.
Keybanc Capital upgraded Cedar Fair (FUN) from a "Hold" rating to a "Buy" rating.
RBC Capital upgraded Tesoro (TSO) from a "Sector Perform" rating to an "Outperform" rating.
Sandord Bernstein upgraded Telefonica S.A. (TEF) from an "Underperform" rating to a "Market Perform" rating.
UBS (NYSE:UBS) upgraded DR Horton (DHI) from a "Neutral" rating to a "Buy" rating.
UBS upgraded Lennar (LEN) from a "Neutral" rating to a "Buy" rating.
Raymond James (NYSE:RJF) upgraded Midsouth Bancorp (MSL) from a "Market Perform" rating to a "Strong Buy" rating.
Century (CENX) (DHI) (FUN) (LEN) (NUS) (RS) (TSO) Upgraded
Century Aluminum (NASDAQ:CENX), D.R. Horton (NYSE:DHI), Cedar Fair (NYSE:FUN), Lennar (NYSE:LEN), Nu Skin (NYSE:NUS), Reliance Steel (NYSE:RS) and Tesoro Corporation (NYSE:TSO) upgraded by analysts.
Century Aluminum (CENX) was upgraded by Goldman Sachs (NYSE:GS) from a "Sell" rating to a "Neutral" rating. They cited valuation as the catalyst behind the call.
D.R. Horton (DHI) was upgraded by UBS (NYSE:UBS) from a "Neutral" rating to a "Buy" rating. They have a price target of $13 on the company.
Cedar Fair (FUN) was upgraded by KeyBanc from a "Hold" rating to a "Buy" rating. They have a price target of $25 on the company.
Lennar (LEN) was upgraded by UBS from a "Neutral" rating to a "Buy" rating. They have a price target of $21 on the company.
Nu Skin (NUS) was upgraded by Wedbush Securities from a "Neutral" rating to an "Outperform" rating. They have a price target of $48 on the company.
Reliance Steel (RS) was upgraded to a "Buy" rating by Goldman Sachs.
Tesoro Corporation (TSO) was upgraded by RBC Capital Markets from a "Sector Perform" rating to an "Outperform" rating. They raised their price target on the company from $28 to $30.
Century Aluminum (CENX) was upgraded by Goldman Sachs (NYSE:GS) from a "Sell" rating to a "Neutral" rating. They cited valuation as the catalyst behind the call.
D.R. Horton (DHI) was upgraded by UBS (NYSE:UBS) from a "Neutral" rating to a "Buy" rating. They have a price target of $13 on the company.
Cedar Fair (FUN) was upgraded by KeyBanc from a "Hold" rating to a "Buy" rating. They have a price target of $25 on the company.
Lennar (LEN) was upgraded by UBS from a "Neutral" rating to a "Buy" rating. They have a price target of $21 on the company.
Nu Skin (NUS) was upgraded by Wedbush Securities from a "Neutral" rating to an "Outperform" rating. They have a price target of $48 on the company.
Reliance Steel (RS) was upgraded to a "Buy" rating by Goldman Sachs.
Tesoro Corporation (TSO) was upgraded by RBC Capital Markets from a "Sector Perform" rating to an "Outperform" rating. They raised their price target on the company from $28 to $30.
Thursday, May 19, 2011
Alcoa (AA) (ACH) (RS) (CENX) (KALU) Jump as Aluminum Prices Rise
Aluminum prices for 3-month contracts climbed $55 to $2,556 a ton, pushing up the share price of Aluminum Corp of China (NYSE:ACH), Reliance Steel and Aluminum (NYSE:RS), Alcoa (NYSE:AA), Century Aluminum (NASDAQ:CENX) and Kaiser Aluminum (NASDAQ:KALU) on Wednesday.
That happened even as aluminum inventories were up in LME warehouses, adding 1,325 tons to a new record high of 4.71 million tons.
Several weeks ago the U.S. International Trade Commission voted 6-0 to impose duties on Chinese goods made of aluminum. Specifically targeted were aluminum extrusions, which are used in sills, door frames and window frames, as well as in solar power frames and gutters.
Alcoa (AA) closed Wednesday at $16.69, gaining $0.24, or 1.46 percent. Aluminum Corp of China (ACH) closed at $22.22, up $0.80, or 3.73 percent.
That happened even as aluminum inventories were up in LME warehouses, adding 1,325 tons to a new record high of 4.71 million tons.
Several weeks ago the U.S. International Trade Commission voted 6-0 to impose duties on Chinese goods made of aluminum. Specifically targeted were aluminum extrusions, which are used in sills, door frames and window frames, as well as in solar power frames and gutters.
Alcoa (AA) closed Wednesday at $16.69, gaining $0.24, or 1.46 percent. Aluminum Corp of China (ACH) closed at $22.22, up $0.80, or 3.73 percent.
Friday, April 1, 2011
U.S. Steel (X) (AKS) (NUE) (RS) Take Breather After Strong Quarter
The pressure on steel companies like United States Steel Corp. (NYSE:X), A.K. Steel Holding Corp. (NYSE:AKS), Nucor Corp. (NYSE:NUE) and Reliance Steel and Aluminum (NYSE:RS) should be just that, as the sector retreated after finishing off a strong first quarter.
Bridget Freas, a Morningstar Inc. market analyst covering the steel and aluminum sector, said, “They had a run-up in share prices in the last couple of days, so what we’re seeing now is most likely just a correction.”
Most analysts seeing the overall industry doing well as they approach earnings season.
Strong demand and the resultant ability to charge higher prices have driven the steel companies up recently, which should continue on, especially as Japan starts to rebuild.
Taking into account U.S. Steels fixed cost structure, along with higher steel prices, suggests they could reveal a good quarter when they report.
U.S. Steel closed Thursday at $53.94, falling $2.37, or 4.21 percent. AK Steel closed at $15.78, dropping $0.50, or 3.07 percent.
Bridget Freas, a Morningstar Inc. market analyst covering the steel and aluminum sector, said, “They had a run-up in share prices in the last couple of days, so what we’re seeing now is most likely just a correction.”
Most analysts seeing the overall industry doing well as they approach earnings season.
Strong demand and the resultant ability to charge higher prices have driven the steel companies up recently, which should continue on, especially as Japan starts to rebuild.
Taking into account U.S. Steels fixed cost structure, along with higher steel prices, suggests they could reveal a good quarter when they report.
U.S. Steel closed Thursday at $53.94, falling $2.37, or 4.21 percent. AK Steel closed at $15.78, dropping $0.50, or 3.07 percent.
Thursday, January 27, 2011
Steel Dynamics (Nasdaq:STLD), Reliance Steel & Aluminum (NYSE:RS) Preferred by Goldman (NYSE:GS) Over US Steel (NYSE:X)
Saying US Steel (NYSE:X) won't benefit in the near term from rising spot steel prices, Goldman Sachs (NYSE:GS) said they see Steel Dynamics Inc. (Nasdaq:STLD) and Reliance Steel & Aluminum Co. (NYSE:RS) as better plays at this time.
Margins at the latter two companies above were pointed out by Goldman as major factors in comparing the companies.
Goldman lowered Q1 EPS estimates for US Steel from a profit of $0.80 to a loss of $0.61, but boosted Q2 EPS from $0.73 to $1.57 and Q3 from $0.57 to $1.15. Full year 2011 EPS estimates remain at $2.50. Goldman also increased full year 2012 EPS from $4.65 to $5.00 and introduced a full year 2013 EPS estimate of $5.50.
Goldman reiterates a "Neutral" rating on US Steel, which closed Wednesday at $59.48, gaining $2.18, or 3.80 percent. Steel Dynamics closed at $19.03, gaining $0.71, or 3.88 percent. Reliance Steel ended the trading session at $53.79, up $1.77 percent, or 3.40 percent.
Margins at the latter two companies above were pointed out by Goldman as major factors in comparing the companies.
Goldman lowered Q1 EPS estimates for US Steel from a profit of $0.80 to a loss of $0.61, but boosted Q2 EPS from $0.73 to $1.57 and Q3 from $0.57 to $1.15. Full year 2011 EPS estimates remain at $2.50. Goldman also increased full year 2012 EPS from $4.65 to $5.00 and introduced a full year 2013 EPS estimate of $5.50.
Goldman reiterates a "Neutral" rating on US Steel, which closed Wednesday at $59.48, gaining $2.18, or 3.80 percent. Steel Dynamics closed at $19.03, gaining $0.71, or 3.88 percent. Reliance Steel ended the trading session at $53.79, up $1.77 percent, or 3.40 percent.
Friday, January 14, 2011
Alcoa (NYSE:AA), Reliance Steel & Aluminum (NYSE:RS) Boosted by Dahlman Rose
Alcoa (NYSE:AA) and Reliance Steel & Aluminum (NYSE:RS) were both upgraded by Dahlman Rose Friday, boosting them both from "Hold" to "Buy."
Concerning Alcoa, Dahlman said they see the company's downstream business improving, along with a stronger aluminum price outlook. Also noted was the alumina business, which they see becoming more profitable in 2011.
For Reliance, they see them benefiting from the broader U.S. domestic steel market continuing to improve. The construction market is expected to start to move within an estimated 9 to 12 months, suggesting companies may start to spend on steel and other materials before that. That could help Reliance through 2012 if that's how it works out.
Along with the steel industry, Dahlman also likes iron ore, copper, aluminum and molybdenum going forward.
Alcoa was trading at $16.01, gaining $0.26, or 1.68 percent, as of 3:03 PM EST. Reliance Steel was trading at $53.24, up $0.12, or 0.23 percent.
Concerning Alcoa, Dahlman said they see the company's downstream business improving, along with a stronger aluminum price outlook. Also noted was the alumina business, which they see becoming more profitable in 2011.
For Reliance, they see them benefiting from the broader U.S. domestic steel market continuing to improve. The construction market is expected to start to move within an estimated 9 to 12 months, suggesting companies may start to spend on steel and other materials before that. That could help Reliance through 2012 if that's how it works out.
Along with the steel industry, Dahlman also likes iron ore, copper, aluminum and molybdenum going forward.
Alcoa was trading at $16.01, gaining $0.26, or 1.68 percent, as of 3:03 PM EST. Reliance Steel was trading at $53.24, up $0.12, or 0.23 percent.
Wednesday, January 12, 2011
Steel Dynamics (Nasdaq:STLD), Schnitzer Steel (Nasdaq:SCHN), US Steel (NYSE:X) Top Steel Picks of UBS (NYSE:UBS)
With guidance in the mid-quarter from some steel companies downwardly revised, it appears earnings for the fourth quarter will be under pressure. The top picks in the weak sector by UBS (NYSE:UBS) are Steel Dynamics (Nasdaq:STLD), Schnitzer Steel (Nasdaq:SCHN) and US Steel (NYSE:X).
UBS says, "Investors seem generally steeled for Q4 earnings likely dominated by losses after NUE and STLD midqtr guidance. AK results will suffer non-cash pension adjustments and coke battery closure costs that investors may dismiss. ATI and RS already warned of seasonal weakness. Investors now know prices troughed in Q4.
"Watch AK Steel (NYSE:AKS) and Reliance Steel (NYSE:RS) for guidance, too early for U.S. Steel (X) exuberance: Q4 metals names under coverage just AKS and RS typically offer forward quarter guidance. We think AKS could top Q1 expectations as cost pressures log, but visibility is difficult given coke battery closure and other costs. Better pricing can help RS and we see a strong Q1 but it could be vulnerable to margin pressure.
"Our top ways to play steel prices are Steel Dynamics (STLD), Schnitzer Steel (SCHN), and X, and we downgrade AKS to Sell as we believe electrical steel will lag and drag results."
Steel Dynamics was trading at $18.93, up $0.02, or 0.11 percent, as of 1:32 PM EST. Schnitzer Steel was trading at $64.36, up $0.30, or 0.47 percent. US Steel was at $56.92, down $0.16, or 0.28 percent.
UBS says, "Investors seem generally steeled for Q4 earnings likely dominated by losses after NUE and STLD midqtr guidance. AK results will suffer non-cash pension adjustments and coke battery closure costs that investors may dismiss. ATI and RS already warned of seasonal weakness. Investors now know prices troughed in Q4.
"Watch AK Steel (NYSE:AKS) and Reliance Steel (NYSE:RS) for guidance, too early for U.S. Steel (X) exuberance: Q4 metals names under coverage just AKS and RS typically offer forward quarter guidance. We think AKS could top Q1 expectations as cost pressures log, but visibility is difficult given coke battery closure and other costs. Better pricing can help RS and we see a strong Q1 but it could be vulnerable to margin pressure.
"Our top ways to play steel prices are Steel Dynamics (STLD), Schnitzer Steel (SCHN), and X, and we downgrade AKS to Sell as we believe electrical steel will lag and drag results."
Steel Dynamics was trading at $18.93, up $0.02, or 0.11 percent, as of 1:32 PM EST. Schnitzer Steel was trading at $64.36, up $0.30, or 0.47 percent. US Steel was at $56.92, down $0.16, or 0.28 percent.
Tuesday, November 23, 2010
Alcoa (NYSE:AA), Alumina (NYSE:AWC), Reliance (NYSE:RS), Century (NASDAQ:CENX), Kaiser (NASDAQ:KALU) Plunge on Aluminum Oversupply Concerns
Alcoa (NYSE:AA), Alumina (NYSE:AWC), Reliance (NYSE:RS), Century (NASDAQ:CENX), Kaiser (NASDAQ:KALU), along with other aluminum-exposed companies, are getting hit hard today on news oversupply could push down prices.
The aluminum industry has attempt to create a narrative of strong demand over the next decade or so, but in the short-term that probably won't be the case, and depending on economic conditions, could be under pressure in the mid-term as well.
Today's downward pressure is from the announcement premiums on shipments to Japan will probably fall in the first quarter of 2011 on oversupply in the market.
A growing number of analyst also believe pressure on pricing is a trend and not a temporary situation; bad news for an already struggling aluminum sector.
Alcoa was trading at $13.13, falling by $0.16, or 1.20 percent at 1:22 PM EST. Alumina was at $7.81, dropping $0.34, or 4.17 percent. Reliance was down to $44.37, losing $1.00, or 2.20 percent. Century was at $14.09, declining $0.35, or 2.42 percent. Kaiser plummeted to $46.60, falling $0.82, or 1.73 percent.
The aluminum industry has attempt to create a narrative of strong demand over the next decade or so, but in the short-term that probably won't be the case, and depending on economic conditions, could be under pressure in the mid-term as well.
Today's downward pressure is from the announcement premiums on shipments to Japan will probably fall in the first quarter of 2011 on oversupply in the market.
A growing number of analyst also believe pressure on pricing is a trend and not a temporary situation; bad news for an already struggling aluminum sector.
Alcoa was trading at $13.13, falling by $0.16, or 1.20 percent at 1:22 PM EST. Alumina was at $7.81, dropping $0.34, or 4.17 percent. Reliance was down to $44.37, losing $1.00, or 2.20 percent. Century was at $14.09, declining $0.35, or 2.42 percent. Kaiser plummeted to $46.60, falling $0.82, or 1.73 percent.
Thursday, November 11, 2010
Nucor (NYSE:NUE), AK (NYSE:AKS), Steel Dynamics (Nasdaq:STLD), Reliance (NYSE:RS) Rated by Goldman (NYSE:GS)
Goldman Sachs (NYSE:GS) took aim at the steel industry recently, liking the potential the overall sector has in 2011, and rating Nucor Corp. (NYSE:NUE), AK Steel Holding Corp. (NYSE:AKS), Steel Dynamics (Nasdaq:STLD) and Reliance Steel (NYSE:RS) specifically.
Goldman says the steel sector may experience a boost in the early part of 2011 based on rising prices. That could attract more investors which would also help the prices move up.
"We do not believe that current weak market fundamentals reflect the true demand level or that they are sustainable," said Goldman in the report.
Even so, a weak construction industry will still hold back sales, even if there is a rally of some type in steel. Sales will more than likely stay about 25 percent below historical levels, said the Goldman analysts.
The favorite of Goldman at this time in the steel sector is Reliance Steel and Aluminum Co., which they upgraded to a "Buy." Reliance closed at $47.04, gaining $0.85, or 1.84 percent on Wednesday. Goldman raised their price target on them from $45 to $50.
Goldman also rated Steel Dynamics Inc. a "Buy." They closed at $15.94, gaining $0.27, or 1.72 percent. They have a price target on them of $20.
AK Steel Holding Corp. was downgraded to "Neutral." They closed at $13.38, rising by $0.14, or 1.06 percent. a price target of $12 was placed on them by the financial giant, lowering it from the previous $15 a share.
Nucor had a "Neutral" placed on them by Goldman. Nucor closed at $40.50, gaining $0.58, or 1.45 percent. They have a price target of $36 on them.
Goldman says the steel sector may experience a boost in the early part of 2011 based on rising prices. That could attract more investors which would also help the prices move up.
"We do not believe that current weak market fundamentals reflect the true demand level or that they are sustainable," said Goldman in the report.
Even so, a weak construction industry will still hold back sales, even if there is a rally of some type in steel. Sales will more than likely stay about 25 percent below historical levels, said the Goldman analysts.
The favorite of Goldman at this time in the steel sector is Reliance Steel and Aluminum Co., which they upgraded to a "Buy." Reliance closed at $47.04, gaining $0.85, or 1.84 percent on Wednesday. Goldman raised their price target on them from $45 to $50.
Goldman also rated Steel Dynamics Inc. a "Buy." They closed at $15.94, gaining $0.27, or 1.72 percent. They have a price target on them of $20.
AK Steel Holding Corp. was downgraded to "Neutral." They closed at $13.38, rising by $0.14, or 1.06 percent. a price target of $12 was placed on them by the financial giant, lowering it from the previous $15 a share.
Nucor had a "Neutral" placed on them by Goldman. Nucor closed at $40.50, gaining $0.58, or 1.45 percent. They have a price target of $36 on them.
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