The Goldman Sachs Group Initiates Coverage on Reliance (NYSE:RS)

Equities researchers at The Goldman Sachs Group assumed coverage on shares of Reliance (NYSE:RS) in a note issued to investors on Wednesday. The firm set a “neutral” rating and a $300.00 price target on the industrial products company’s stock. The Goldman Sachs Group’s target price would suggest a potential downside of 1.22% from the company’s current price.

Several other equities analysts also recently weighed in on RS. Wall Street Zen downgraded shares of Reliance from a “buy” rating to a “hold” rating in a report on Sunday, March 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Reliance in a research note on Monday, December 29th. Zacks Research raised Reliance from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. BMO Capital Markets downgraded Reliance from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $340.00 to $320.00 in a research note on Friday, February 20th. Finally, KeyCorp began coverage on shares of Reliance in a report on Wednesday, March 25th. They set an “overweight” rating and a $341.00 price objective for the company. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $322.80.

Reliance Price Performance

NYSE RS opened at $303.69 on Wednesday. The company has a market capitalization of $15.71 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 1.14 and a beta of 0.91. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.30 and a current ratio of 4.88. The business’s fifty day moving average is $320.07 and its 200 day moving average is $297.77. Reliance has a fifty-two week low of $250.07 and a fifty-two week high of $365.59.

Reliance (NYSE:RS) last issued its quarterly earnings results on Wednesday, February 18th. The industrial products company reported $2.40 EPS for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.40). Reliance had a return on equity of 10.45% and a net margin of 5.17%.The company had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter in the previous year, the company earned $2.22 EPS. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. Reliance has set its Q1 2026 guidance at 4.500-4.70 EPS. Sell-side analysts predict that Reliance will post 16.98 earnings per share for the current year.

Insider Activity

In other news, SVP William A. Smith II sold 6,615 shares of Reliance stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $298.61, for a total value of $1,975,305.15. Following the completion of the transaction, the senior vice president owned 21,747 shares in the company, valued at approximately $6,493,871.67. The trade was a 23.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 that occurred on Monday, February 23rd. The shares were sold at an average price of $321.62, for a total value of $7,738,177.20. Following the transaction, the chief operating officer directly owned 14,021 shares in the company, valued at approximately $4,509,434.02. This represents a 63.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.35% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RS. Royal Bank of Canada raised its position in Reliance by 6.6% in the 1st quarter. Royal Bank of Canada now owns 15,111 shares of the industrial products company’s stock worth $4,364,000 after purchasing an additional 940 shares during the period. Empowered Funds LLC increased its stake in Reliance by 4.8% in the first quarter. Empowered Funds LLC now owns 5,662 shares of the industrial products company’s stock worth $1,635,000 after purchasing an additional 258 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Reliance by 99.2% during the first quarter. Geneos Wealth Management Inc. now owns 263 shares of the industrial products company’s stock valued at $76,000 after purchasing an additional 131 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in shares of Reliance by 17.8% in the second quarter. Steward Partners Investment Advisory LLC now owns 555 shares of the industrial products company’s stock worth $174,000 after purchasing an additional 84 shares during the last quarter. Finally, J.W. Cole Advisors Inc. bought a new stake in Reliance during the 2nd quarter valued at about $298,000. Institutional investors 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.