Reliance (NYSE:RS) Raised to “Strong-Buy” at Zacks Research

Reliance (NYSE:RS) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the company. Seaport Research Partners raised their price objective on Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Bank of America lowered Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 target price for the company. in a research note on Thursday, April 30th. Weiss Ratings upgraded Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. BMO Capital Markets raised their price target on Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Finally, Wall Street Zen raised Reliance from a “buy” rating to a “strong-buy” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $378.67.

Reliance Price Performance

RS stock opened at $415.72 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.27 and a current ratio of 4.30. Reliance has a 52 week low of $260.31 and a 52 week high of $419.83. The firm’s fifty day moving average is $392.97 and its 200 day moving average is $352.73. The firm has a market cap of $21.22 billion, a P/E ratio of 24.17, a P/E/G ratio of 1.10 and a beta of 0.96.

Reliance (NYSE:RS) last issued its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, topping analysts’ consensus estimates of $5.47 by $0.80. The company had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.26 billion. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The firm’s revenue was up 26.5% compared to the same quarter last year. During the same quarter last year, the company earned $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Research analysts predict that Reliance will post 21.33 earnings per share for the current year.

Insider Buying and Selling at Reliance

In other Reliance news, CFO Arthur Ajemyan sold 2,200 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $410.11, for a total transaction of $902,242.00. Following the transaction, the chief financial officer directly owned 14,640 shares of the company’s stock, valued at approximately $6,004,010.40. The trade was a 13.06% 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, SVP William A. Smith II sold 2,353 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $414.21, for a total transaction of $974,636.13. Following the completion of the sale, the senior vice president directly owned 19,394 shares of the company’s stock, valued at approximately $8,033,188.74. This represents a 10.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RS. Costello Asset Management INC purchased a new position in shares of Reliance in the 1st quarter valued at approximately $30,000. Brown Brothers Harriman & Co. grew its stake in Reliance by 86.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 50 shares during the period. Greenline Wealth Management LLC purchased a new stake in Reliance in the fourth quarter worth $32,000. Quarry LP bought a new position in Reliance in the third quarter worth $32,000. Finally, Parkside Financial Bank & Trust raised its holdings in Reliance by 87.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 55 shares in the last quarter. Hedge funds and other 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.