Reliance (NYSE:RS) Price Target Raised to $390.00

Reliance (NYSE:RS) had its price objective increased by Seaport Research Partners from $340.00 to $390.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Seaport Research Partners’ price target suggests a potential upside of 7.64% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. KeyCorp lifted their price target on shares of Reliance from $341.00 to $378.00 and gave the company an “overweight” rating in a research report on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Reliance in a research report on Monday, December 29th. JPMorgan Chase & Co. lifted their target price on shares of Reliance from $340.00 to $345.00 and gave the company a “neutral” rating in a report on Friday. BMO Capital Markets upped their price target on Reliance from $320.00 to $350.00 and gave the stock a “market perform” rating in a research note on Monday. Finally, The Goldman Sachs Group initiated coverage on Reliance in a report on Wednesday, April 1st. They issued a “neutral” rating and a $300.00 price objective on the stock. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $343.00.

Reliance Trading Up 0.4%

Shares of RS stock traded up $1.45 during trading on Tuesday, hitting $362.31. 167,309 shares of the stock traded hands, compared to its average volume of 356,271. The firm has a market capitalization of $18.74 billion, a P/E ratio of 23.66, a price-to-earnings-growth ratio of 1.27 and a beta of 0.88. Reliance has a 52-week low of $260.31 and a 52-week high of $365.59. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.39 and a quick ratio of 2.24. The firm’s fifty day moving average price is $314.90 and its 200-day moving average price is $303.36.

Reliance (NYSE:RS) last announced its quarterly 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. The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $3.89 billion. Reliance had a return on equity of 11.37% and a net margin of 5.42%.The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.77 EPS. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. As a group, research analysts forecast that Reliance will post 17.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Stephen Paul Koch sold 24,060 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $321.62, for a total value of $7,738,177.20. Following the completion of the sale, the chief operating officer directly owned 14,021 shares of the company’s stock, valued at approximately $4,509,434.02. The trade was a 63.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP William A. Smith II sold 6,615 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $298.61, for a total value of $1,975,305.15. Following the completion of the sale, the senior vice president directly owned 21,747 shares of the company’s stock, valued at $6,493,871.67. The trade was a 23.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Reliance

Several hedge funds have recently made changes to their positions in the business. V Square Quantitative Management LLC raised its stake in Reliance by 38.7% during the 1st quarter. V Square Quantitative Management LLC now owns 452 shares of the industrial products company’s stock valued at $137,000 after acquiring an additional 126 shares during the last quarter. Hunter Associates Investment Management LLC increased its holdings in shares of Reliance by 0.6% in the first quarter. Hunter Associates Investment Management LLC now owns 7,582 shares of the industrial products company’s stock valued at $2,310,000 after purchasing an additional 44 shares during the period. QRG Capital Management Inc. raised its stake in shares of Reliance by 16.5% during the first quarter. QRG Capital Management Inc. now owns 7,038 shares of the industrial products company’s stock worth $2,139,000 after purchasing an additional 999 shares during the last quarter. HB Wealth Management LLC raised its stake in shares of Reliance by 23.5% during the first quarter. HB Wealth Management LLC now owns 1,499 shares of the industrial products company’s stock worth $456,000 after purchasing an additional 285 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Reliance by 87,500.0% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 3,504 shares of the industrial products company’s stock worth $1,065,000 after buying an additional 3,500 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.