Reliance (NYSE:RS) Stock Rating Raised to Hold at Barclays

Reliance (NYSE:RS) was upgraded by Barclays to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks reports.

RS has been the subject of several other reports. JPMorgan Chase & Co. lifted their price target on Reliance from $390.00 to $400.00 and gave the company a “neutral” rating in a research report on Friday, October 9th. Citigroup reissued a “neutral” rating on shares of Reliance in a report on Wednesday, July 29th. Weiss Ratings upgraded Reliance from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Zacks Research upgraded Reliance from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Finally, Wall Street Zen cut shares of Reliance from a “strong-buy” rating to a “buy” rating in a research note on Sunday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Reliance has an average rating of “Hold” and a consensus target price of $387.43.

Reliance Stock Performance

NYSE RS opened at $406.76 on Wednesday. The stock has a 50-day simple moving average of $398.87 and a two-hundred day simple moving average of $380.70. The firm has a market capitalization of $20.77 billion, a P/E ratio of 23.65, a PEG ratio of 0.93 and a beta of 0.95. Reliance has a fifty-two week low of $260.31 and a fifty-two week high of $433.02. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.27 and a current ratio of 4.30.

Reliance (NYSE:RS) last issued its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.47 by $0.80. Reliance had a return on equity of 12.51% and a net margin of 5.65%. The business had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same quarter in the previous year, the firm posted $4.43 EPS. The company’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 forecast that Reliance will post 23.70 earnings per share for the current year.

Insider Transactions at Reliance

In other news, SVP William Smith, II sold 2,353 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $414.21, for a total transaction of $974,636.13. Following the sale, the senior vice president directly owned 19,394 shares of the company’s stock, valued at $8,033,188.74. This represents a 10.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $902,242.00. Following the sale, the chief financial officer directly owned 14,640 shares in the company, valued at approximately $6,004,010.40. The trade was a 13.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Reliance

A number of large investors have recently bought and sold shares of the business. Costello Asset Management INC acquired a new stake in Reliance in the first quarter valued at approximately $30,000. N.E.W. Advisory Services LLC acquired a new position in shares of Reliance during the 2nd quarter worth approximately $37,000. Osterweis Capital Management Inc. acquired a new position in shares of Reliance during the 2nd quarter worth approximately $41,000. Compass Financial Management LLC acquired a new position in shares of Reliance during the 2nd quarter worth approximately $46,000. Finally, Fortitude Family Office LLC lifted its position in shares of Reliance by 174.5% during the 3rd quarter. Fortitude Family Office LLC now owns 129 shares of the industrial products company’s stock valued at $50,000 after buying an additional 82 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Reliance News Roundup

Here are the key news stories impacting Reliance this week:

• Positive Sentiment: Analysts see potential for another earnings beat. Zacks reports that Reliance has favorable conditions for exceeding expectations in its upcoming quarterly results, which could reinforce investor confidence after the company’s prior earnings and revenue surpassed consensus estimates. Reliance Earnings Expected to Grow
• Positive Sentiment: Upcoming earnings are drawing investor attention. Reliance is projected to release quarterly results on Wednesday. Investors will focus on whether earnings momentum continues and how results compare with the company’s guidance of $6.40-$6.60 per share for the third quarter. Reliance Projected to Release Earnings
• Neutral Sentiment: Several headlines concern Reliance Industries and Jio Platforms—not Reliance, Inc. (RS). Jio Platforms, an Indian subsidiary of Reliance Industries, has set a price band of ₹1,065-₹1,119 for a planned ₹30,213 crore IPO opening October 21. The offering may affect sentiment toward Indian-listed Reliance Industries, but it is not a direct corporate event for NYSE-listed Reliance, Inc. Jio Platforms Files Final IPO Prospectus
• Neutral Sentiment: Reliance Consumer’s new beverage launch is unrelated to RS. Reliance Consumer has introduced Joyland flavored milk in Tamil Nadu at ₹20, adding competition for ITC, Amul and other Indian beverage brands. This does not represent a business development for Reliance, Inc. Reliance Consumer Launches Joyland Flavored Milk
• Neutral Sentiment: Reliance Power seizure reports also involve a different company. Reports that India’s Enforcement Directorate seized approximately ₹2,027 crore of Sasan Power shares relate to Reliance Power, not Reliance, Inc. (RS), and should not be treated as a direct fundamental catalyst for RS. Reliance Power ED Seizure Order

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.