Reliance (NYSE:RS) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Reliance (NYSE:RS) had its price target raised by BMO Capital Markets from $390.00 to $415.00 in a research report 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 stock’s current price.

A number of other equities analysts also recently commented on RS. JPMorgan Chase & Co. dropped their price objective on Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. Wells Fargo & Company lifted their target price on shares of Reliance from $372.00 to $398.00 and gave the company an “equal weight” rating in a research note on Thursday. Bank of America downgraded shares of Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 target price for the company. in a research report on Thursday, April 30th. Seaport Research Partners increased their price target on shares of Reliance from $340.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, Wall Street Zen upgraded shares of Reliance from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Reliance has an average rating of “Hold” and a consensus target price of $378.67.

Reliance Stock Performance

Shares of NYSE RS opened at $408.04 on Monday. The business’s 50-day moving average price is $386.93 and its two-hundred day moving average price is $347.80. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.30 and a quick ratio of 2.27. Reliance has a one year low of $260.31 and a one year high of $419.83. The company has a market capitalization of $20.83 billion, a P/E ratio of 23.72, a price-to-earnings-growth ratio of 1.17 and a beta of 0.97.

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

Hedge Funds Weigh In On Reliance

Institutional investors have recently modified their holdings of the stock. ProCore Advisors LLC acquired a new position in Reliance during the 4th quarter worth $18,787,000. Arjuna Capital acquired a new stake in shares of Reliance in the 4th quarter valued at $1,838,000. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of Reliance in the 4th quarter valued at $61,317,000. Forsta AP Fonden bought a new stake in shares of Reliance during the fourth quarter worth $2,022,000. Finally, Fulcrum Wealth Advisors LLC bought a new stake in shares of Reliance during the fourth quarter worth $2,529,000. 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.