Reliance (NYSE:RS) Stock Rating Upgraded by Wall Street Zen

Reliance (NYSE:RS) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Sunday.

Other research analysts also recently issued reports about the company. Seaport Research Partners lifted their target price on Reliance from $340.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. BMO Capital Markets lifted their price objective on shares of Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. KeyCorp upped their price objective on shares of Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. JPMorgan Chase & Co. cut their target price on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a research note on Wednesday, July 15th. Finally, Wells Fargo & Company lifted their target price on shares of Reliance from $372.00 to $398.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $377.50.

Reliance Trading Down 1.5%

NYSE RS opened at $382.26 on Friday. Reliance has a 12 month low of $260.31 and a 12 month high of $433.02. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average of $398.33 and a 200-day moving average of $361.18. The company has a market cap of $19.52 billion, a PE ratio of 22.22, a PEG ratio of 1.00 and a beta of 0.96.

Reliance (NYSE:RS) last posted its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.47 by $0.80. The firm had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.26 billion. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The company’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, equities research analysts anticipate that Reliance will post 22.23 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Arthur Ajemyan sold 2,200 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $410.11, for a total transaction of $902,242.00. Following the sale, the chief financial officer owned 14,640 shares of the company’s stock, valued at $6,004,010.40. This represents a 13.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP William A. Smith II sold 2,353 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $414.21, for a total value of $974,636.13. Following the transaction, the senior vice president owned 19,394 shares in the company, valued at approximately $8,033,188.74. This trade represents a 10.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Costello Asset Management INC bought a new stake in shares of Reliance during the 1st quarter worth approximately $30,000. Brown Brothers Harriman & Co. lifted its stake in Reliance by 86.2% during 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 last quarter. Greenline Wealth Management LLC acquired a new stake in shares of Reliance in the 4th quarter valued at $32,000. Quarry LP bought a new position in shares of Reliance in the 3rd quarter valued at $32,000. Finally, Parkside Financial Bank & Trust increased its stake in shares of Reliance by 87.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 55 shares during the last quarter. 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.