Reliance (NYSE:RS) Given New $323.00 Price Target at Wells Fargo & Company

Reliance (NYSE:RS) had its price target lifted by research analysts at Wells Fargo & Company from $315.00 to $323.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 1.90% from the stock’s previous close.

Several other brokerages also recently commented on RS. BMO Capital Markets downgraded shares of Reliance from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $340.00 to $320.00 in a report on Friday, February 20th. KeyCorp reaffirmed an “overweight” rating on shares of Reliance in a research report on Wednesday, January 7th. Zacks Research raised Reliance from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. Wall Street Zen lowered Reliance from a “buy” rating to a “hold” rating in a report on Sunday. Finally, JPMorgan Chase & Co. downgraded Reliance from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $340.00 to $330.00 in a report on Friday, February 20th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $324.33.

Reliance Stock Up 0.4%

Shares of NYSE RS traded up $1.34 during mid-day trading on Monday, hitting $316.98. The company had a trading volume of 59,554 shares, compared to its average volume of 371,167. The company has a current ratio of 4.88, a quick ratio of 2.30 and a debt-to-equity ratio of 0.20. The firm has a 50-day simple moving average of $320.25 and a two-hundred day simple moving average of $296.23. The company has a market capitalization of $16.57 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 1.89 and a beta of 0.92. Reliance has a one year low of $250.07 and a one year high of $365.59.

Reliance (NYSE:RS) last issued its earnings results on Wednesday, February 18th. The industrial products company reported $2.40 earnings per share for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.40). The firm had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.45 billion. Reliance had a return on equity of 10.45% and a net margin of 5.17%.Reliance’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.22 earnings per share. Reliance has set its Q1 2026 guidance at 4.500-4.70 EPS. On average, equities analysts expect that Reliance will post 16.98 EPS for the current year.

Insider Buying and Selling

In other news, COO Stephen Paul Koch sold 24,060 shares of the stock in a transaction that occurred on 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 $4,509,434.02. This represents a 63.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Institutional Trading of Reliance

Several institutional investors and hedge funds have recently made changes to their positions in the company. Foundations Investment Advisors LLC bought a new stake in Reliance in the 3rd quarter worth about $1,576,000. Principal Financial Group Inc. boosted its stake in shares of Reliance by 4.2% in the 3rd quarter. Principal Financial Group Inc. now owns 755,756 shares of the industrial products company’s stock worth $212,243,000 after buying an additional 30,765 shares during the last quarter. First National Advisers LLC purchased a new position in shares of Reliance in the 3rd quarter worth approximately $1,948,000. Canada Post Corp Registered Pension Plan bought a new position in shares of Reliance in the third quarter valued at approximately $873,000. Finally, Y Intercept Hong Kong Ltd increased its position in shares of Reliance by 293.0% during the third quarter. Y Intercept Hong Kong Ltd now owns 34,946 shares of the industrial products company’s stock valued at $9,814,000 after acquiring an additional 26,055 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

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.