Reliance Steel & Aluminum Co. RS was a big mover last session, as the company saw its shares rise almost 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $66.87 to $79.38 in the past one-month time frame.
In the last 30 days, the company witnessed three negative estimate revisions and the Zacks Consensus Estimate also moved lower over the same time frame, signaling trouble down the road. So make sure to keep an eye on this stock going forward to see if yesterday’s move higher can last.
Reliance Steel & Aluminum currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.
A better-ranked stock in the same industry is Lawson Products Inc. LAWS, which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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