Reliance (NYSE:RS) Price Target Raised to $378.00 at JPMorgan Chase & Co.

Reliance (NYSE:RS) had its price objective raised by equities researchers at JPMorgan Chase & Co. from $345.00 to $378.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 7.06% from the stock’s current price.

Several other research analysts have also weighed in on RS. Wells Fargo & Company upped their target price on Reliance from $343.00 to $376.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 4th. Wall Street Zen raised Reliance from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Weiss Ratings upgraded Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. The Goldman Sachs Group began coverage on shares of Reliance in a research report on Wednesday, April 1st. They set a “neutral” rating and a $300.00 price objective on the stock. Finally, BMO Capital Markets boosted their target price on shares of Reliance from $320.00 to $350.00 and gave the stock a “market perform” rating in a research report on Monday, April 27th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $357.83.

Reliance Stock Up 1.2%

Shares of NYSE:RS traded up $4.92 during trading on Wednesday, reaching $406.72. 60,155 shares of the company traded hands, compared to its average volume of 341,976. The firm has a fifty day simple moving average of $352.86 and a 200 day simple moving average of $323.66. The company has a quick ratio of 2.24, a current ratio of 4.39 and a debt-to-equity ratio of 0.24. Reliance has a 1-year low of $260.31 and a 1-year high of $408.99. The firm has a market cap of $20.76 billion, a P/E ratio of 26.53, a price-to-earnings-growth ratio of 1.23 and a beta of 0.95.

Reliance (NYSE:RS) last posted its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.63 by $0.53. Reliance had a net margin of 5.42% and a return on equity of 11.37%. The business had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the prior year, the business posted $3.77 earnings per share. Reliance’s revenue for the quarter was up 15.1% compared to the same quarter last year. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. Analysts anticipate that Reliance will post 18.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Reliance

In related news, CFO Arthur Ajemyan sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $358.12, for a total value of $1,253,420.00. Following the completion of the sale, the chief financial officer directly owned 16,840 shares in the company, valued at approximately $6,030,740.80. The trade was a 17.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Reliance

A number of institutional investors have recently modified their holdings of the company. Elevation Wealth Partners LLC acquired a new stake in shares of Reliance in the fourth quarter worth $28,000. Costello Asset Management INC acquired a new position in Reliance in the 1st quarter valued at $30,000. Brown Brothers Harriman & Co. raised its holdings in Reliance by 86.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 50 shares during the period. Greenline Wealth Management LLC bought a new position in Reliance in the 4th quarter worth $32,000. Finally, Quarry LP acquired a new position in Reliance during the 3rd quarter worth $32,000. 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.