Reliance (NYSE:RS) Given New $378.00 Price Target at JPMorgan Chase & Co.

Reliance (NYSE:RS) had its price target upped by research analysts at JPMorgan Chase & Co. from $345.00 to $378.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 7.06% from the company’s current price.

Several other research firms also recently weighed in on RS. Wall Street Zen raised shares of Reliance from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Weiss Ratings upgraded shares of Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. KeyCorp upped their price target on shares of Reliance from $341.00 to $378.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. The Goldman Sachs Group assumed coverage on shares of Reliance in a research note on Wednesday, April 1st. They set a “neutral” rating and a $300.00 price objective on the stock. Finally, Bank of America cut Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 target price on the stock. in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $357.83.

Reliance Stock Performance

Shares of NYSE RS traded up $4.92 during midday trading on Wednesday, hitting $406.72. 60,155 shares of the company’s stock were exchanged, compared to its average volume of 341,976. Reliance has a twelve month low of $260.31 and a twelve month high of $408.99. The firm has a market cap of $20.76 billion, a P/E ratio of 26.53, a PEG ratio of 1.23 and a beta of 0.95. The stock’s 50 day moving average price is $352.86 and its 200-day moving average price is $323.66. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.39 and a quick ratio of 2.24.

Reliance (NYSE:RS) last posted its earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.63 by $0.53. Reliance had a return on equity of 11.37% and a net margin of 5.42%.The firm had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period last year, the firm earned $3.77 EPS. The firm’s revenue was up 15.1% compared to the same quarter last year. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. Equities research analysts anticipate that Reliance will post 18.98 EPS for the current year.

Insider Buying and Selling at Reliance

In other news, CFO Arthur Ajemyan sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $358.12, for a total transaction of $1,253,420.00. Following the sale, the chief financial officer owned 16,840 shares in the company, valued at $6,030,740.80. The trade was a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is currently owned by company insiders.

Institutional Trading of Reliance

Several large investors have recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC purchased a new position in shares of Reliance during the fourth quarter valued at $28,000. Costello Asset Management INC purchased a new stake in Reliance in the 1st quarter worth about $30,000. Brown Brothers Harriman & Co. boosted its position in Reliance by 86.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 50 shares during the period. Greenline Wealth Management LLC purchased a new position in Reliance during the 4th quarter valued at about $32,000. Finally, Quarry LP purchased a new position in Reliance during the 3rd quarter valued at about $32,000. 79.26% of the stock is owned by institutional investors and hedge funds.

About Reliance

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.