Reliance (NYSE:RS) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says
by Amy Steele · The Cerbat GemReliance (NYSE:RS – Get Free Report) had its price target boosted by equities researchers at JPMorgan Chase & Co. from $340.00 to $345.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 2.08% from the company’s previous close.
A number of other analysts have also issued reports on RS. Bank of America lifted their price target on shares of Reliance from $340.00 to $355.00 and gave the stock a “neutral” rating in a research note on Thursday. KeyCorp started coverage on shares of Reliance in a research note on Wednesday, March 25th. They issued an “overweight” rating and a $341.00 price target for the company. Wall Street Zen upgraded shares of Reliance from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. The Goldman Sachs Group started coverage on shares of Reliance in a research note on Wednesday, April 1st. They set a “neutral” rating and a $300.00 target price for the company. Finally, BMO Capital Markets lowered shares of Reliance from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $340.00 to $320.00 in a research note on Friday, February 20th. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $331.83.
Read Our Latest Stock Report on Reliance
Reliance Stock Up 2.3%
Shares of NYSE:RS traded up $7.78 during midday trading on Friday, reaching $352.33. The company had a trading volume of 188,645 shares, compared to its average volume of 354,439. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.88 and a quick ratio of 2.30. The stock’s fifty day moving average price is $314.37 and its 200-day moving average price is $301.99. The stock has a market capitalization of $18.23 billion, a P/E ratio of 22.99, a PEG ratio of 1.33 and a beta of 0.88. Reliance has a one year low of $260.31 and a one year high of $365.59.
Reliance (NYSE:RS – Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.63 by $0.53. The business had revenue of $4.03 billion during the quarter, compared to analyst estimates of $3.89 billion. Reliance had a net margin of 5.42% and a return on equity of 11.32%. The business’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.77 earnings per share. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. Equities research analysts expect that Reliance will post 17.65 earnings per share for the current fiscal year.
Insider Buying and Selling at Reliance
In other news, SVP William A. Smith II sold 6,615 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $298.61, for a total transaction of $1,975,305.15. Following the completion of the transaction, the senior vice president owned 21,747 shares of the company’s stock, valued at approximately $6,493,871.67. The trade was a 23.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Stephen Paul Koch sold 24,060 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $321.62, for a total transaction of $7,738,177.20. Following the transaction, the chief operating officer directly owned 14,021 shares of the company’s stock, valued at approximately $4,509,434.02. This trade represents a 63.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.40% of the stock is owned by insiders.
Hedge Funds Weigh In On Reliance
Hedge funds and other institutional investors have recently modified their holdings of the company. Foundations Investment Advisors LLC acquired a new position in shares of Reliance during the third quarter valued at $1,576,000. CWA Asset Management Group LLC acquired a new position in shares of Reliance during the fourth quarter valued at $10,297,000. Principal Financial Group Inc. boosted its holdings in shares of Reliance by 4.2% during the third quarter. Principal Financial Group Inc. now owns 755,756 shares of the industrial products company’s stock valued at $212,243,000 after acquiring an additional 30,765 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Reliance by 24.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 24,284 shares of the industrial products company’s stock valued at $7,015,000 after acquiring an additional 4,817 shares during the period. Finally, First National Advisers LLC acquired a new position in shares of Reliance during the third quarter valued at $1,948,000. Institutional investors and hedge funds own 79.26% of the company’s stock.
Reliance Company Profile
Reliance Steel & Aluminum Co (NYSE: RS) is a leading metals service center company that distributes and processes a broad array of metal products. The company offers cut-to-length, shearing, blanking, sawing, bending, machining and value-added services for carbon and alloy steel, stainless steel, aluminum, brass, titanium and specialty metal alloys. Its products serve diverse end markets, including energy, infrastructure, general manufacturing, transportation, aerospace and defense.
Founded in 1939 in Los Angeles, Reliance Steel & Aluminum has grown through a combination of organic expansion and strategic acquisitions.