Reliance (NYSE:RS) Given New $415.00 Price Target at BMO Capital Markets

Reliance (NYSE:RS) had its price target boosted by research analysts at BMO Capital Markets from $390.00 to $415.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the industrial products company’s stock. BMO Capital Markets’ price objective indicates a potential upside of 1.71% from the company’s current price.

Several other equities research analysts have also weighed in on RS. Seaport Research Partners increased their target price on shares of Reliance from $340.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Wells Fargo & Company boosted their price target on shares of Reliance from $372.00 to $398.00 and gave the company an “equal weight” rating in a report on Thursday. The Goldman Sachs Group started coverage on shares of Reliance in a research report on Wednesday, April 1st. They issued a “neutral” rating and a $300.00 price objective for the company. Bank of America downgraded Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price objective on the stock. in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. reduced their target price on Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Reliance has an average rating of “Hold” and an average target price of $378.67.

Reliance Price Performance

Reliance stock opened at $408.04 on Monday. The firm has a market capitalization of $20.83 billion, a P/E ratio of 23.72, a PEG ratio of 1.17 and a beta of 0.97. Reliance has a 1 year low of $260.31 and a 1 year high of $419.83. The business has a 50-day moving average of $386.93 and a 200-day moving average of $347.80. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22.

Reliance (NYSE:RS) last announced its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share for the quarter, beating analysts’ consensus estimates of $5.47 by $0.80. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The business had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same period last year, the company posted $4.43 EPS. Reliance’s revenue for the quarter was up 26.5% on a year-over-year basis. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, equities analysts anticipate that Reliance will post 19.84 EPS for the current year.

Hedge Funds Weigh In On Reliance

Several hedge funds have recently made changes to their positions in the business. Costello Asset Management INC acquired a new stake in shares of Reliance in the first quarter valued at approximately $30,000. Brown Brothers Harriman & Co. boosted its holdings 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 bought a new position in Reliance in the fourth quarter valued at $32,000. Quarry LP bought a new position in Reliance in the third quarter valued at $32,000. Finally, Parkside Financial Bank & Trust grew its position in Reliance by 87.3% in the fourth 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 in the last quarter. 79.26% of the stock is owned by institutional investors.

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.