Reliance Steel & Aluminum CoNYSE: RS

While Reliance (RS) faces headwinds from pricing pressure, it benefits from strong demand in its major markets and acquisitions.

Reliance (RS) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Here is how Reliance (RS) and SilverCrest Metals Inc. (SILV) have performed compared to their sector so far this year.

Reliance (RS) is currently considered oversold, indicating that the intense selling pressure may have subsided. This, combined with the consensus among Wall Street analysts in increasing earnings projections, could result in a turnaround for the stock.

Reliance (RS) is seeing an increase in its stock value due to strong demand in key markets and successful acquisitions.

There is increasing optimism about Reliance's earnings potential, leading to its upgrade to a Zacks Rank #2 (Buy), which could result in the stock moving higher.

The selling pressure for Reliance (RS) may have subsided as it is currently oversold from a technical perspective. Furthermore, the consensus among Wall Street analysts in raising earnings estimates suggests that the stock is primed for a turnaround.

Reliance's first-quarter profits and revenue fall short of expectations due to decreased shipments and lower prices.

Reliance, Inc. (NYSE:RS) Q1 2024 Earnings Conference Call on April 25, 2024 at 11:00 AM ET with Company Participants Kim Orlando, Karla Lewis, Steve Koch, and Arthur Ajemyan. Conference Call Participants include Phil Gibbs, Martin Englert, and Timna Tanners. Welcome to the call, all participants are currently in a listen-only mode.