Reliance (NYSE:RS) Stock Gets Price Target Increase from JPMorgan Chase & Co.

Reliance (NYSE:RS) had its target price upped by research analysts at JPMorgan Chase & Co. from $390.00 to $400.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 0.50% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Wall Street Zen raised shares of Reliance from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 3rd. Wells Fargo & Company decreased their price target on shares of Reliance from $398.00 to $391.00 and set an “equal weight” rating on the stock in a research report on Monday, August 24th. KeyCorp upped their price target on Reliance from $418.00 to $421.00 and gave the company an “overweight” rating in a report on Monday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Reliance in a research report on Thursday, August 13th. Finally, Citigroup reissued a “neutral” rating on shares of Reliance in a research note on Wednesday, July 29th. One investment 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $382.00.

Reliance Price Performance

RS traded up $5.11 during trading on Friday, reaching $402.02. The stock had a trading volume of 96,727 shares, compared to its average volume of 342,805. The stock has a 50 day moving average of $399.64 and a two-hundred day moving average of $377.72. The company has a quick ratio of 2.27, a current ratio of 4.30 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $20.52 billion, a price-to-earnings ratio of 23.40, a price-to-earnings-growth ratio of 0.97 and a beta of 0.95. Reliance has a 1-year low of $260.31 and a 1-year high of $433.02.

Reliance (NYSE:RS) last announced its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share for the quarter, beating the consensus estimate of $5.47 by $0.80. The business had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.26 billion. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The company’s revenue was up 26.5% on a year-over-year basis. During the same quarter 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. As a group, equities analysts anticipate that Reliance will post 23.23 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 dated Friday, July 31st. The stock was sold at an average price of $410.11, for a total value of $902,242.00. Following the completion of the sale, the chief financial officer directly owned 14,640 shares of the company’s stock, valued at approximately $6,004,010.40. This represents a 13.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP William A. Smith II sold 2,353 shares of Reliance stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $414.21, for a total value of $974,636.13. Following the transaction, the senior vice president directly owned 19,394 shares in the company, valued at approximately $8,033,188.74. This trade represents a 10.82% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.40% of the company’s stock.

Institutional Trading of Reliance

A number of hedge funds have recently made changes to their positions in RS. XXEC Inc. purchased a new stake in shares of Reliance during the second quarter worth $127,493,000. BlackRock Inc. acquired a new position in Reliance in the 2nd quarter worth about $2,171,081,000. Bank of New York Mellon Corp purchased a new stake in shares of Reliance during the 2nd quarter worth about $176,913,000. William Blair Investment Management LLC acquired a new stake in shares of Reliance during the 2nd quarter valued at about $142,900,000. Finally, Corient Private Wealth LP acquired a new stake in shares of Reliance during the 2nd quarter valued at about $129,799,000. 79.26% of the stock is owned by hedge funds and other institutional investors.

About Reliance

Reliance, operating as Reliance Steel & Aluminum Co (NYSE: RS), is a diversified metals service center company. It distributes a broad range of metals, including carbon steel, stainless steel, aluminum, copper, brass, titanium and specialty steel products, serving manufacturers, fabricators, construction companies and other industrial customers.

The company provides value-added services designed to prepare metals for customer use. These services include cutting, leveling, slitting, sawing, machining, forming, coating, welding and other fabrication processes.