KeyCorp Forecasts Strong Price Appreciation for Reliance (NYSE:RS) Stock

Reliance (NYSE:RS) had its price objective boosted by investment analysts at KeyCorp from $418.00 to $421.00 in a research note issued on Monday, Marketbeat Ratings reports. The firm presently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s target price points to a potential upside of 4.89% from the stock’s current price.

A number of other brokerages also recently issued reports on RS. Wall Street Zen raised shares of Reliance from a “buy” rating to a “strong-buy” rating in a report on Saturday. Wells Fargo & Company decreased their price objective on shares of Reliance from $398.00 to $391.00 and set an “equal weight” rating for the company in a research report on Monday, August 24th. BMO Capital Markets increased their price target on Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Zacks Research raised Reliance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Finally, Citigroup restated a “neutral” rating on shares of Reliance in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $380.33.

Reliance Trading Down 1.7%

Shares of NYSE:RS opened at $401.37 on Monday. Reliance has a 12-month low of $260.31 and a 12-month high of $433.02. The company has a market capitalization of $20.49 billion, a PE ratio of 23.34, a PEG ratio of 1.00 and a beta of 0.95. The business has a 50 day moving average of $399.86 and a two-hundred day moving average of $376.26. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22.

Reliance (NYSE:RS) last released its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, topping the consensus estimate of $5.47 by $0.80. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, analysts forecast that Reliance will post 23.23 EPS for the current year.

Insider Transactions at Reliance

In related news, SVP William Smith, II sold 2,353 shares of the company’s 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 completion of the transaction, the senior vice president owned 19,394 shares in the company, valued at $8,033,188.74. This represents a 10.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Arthur Ajemyan sold 2,200 shares of the company’s 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 transaction, the chief financial officer owned 14,640 shares of the company’s stock, valued at approximately $6,004,010.40. This trade represents a 13.06% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Reliance

A number of hedge funds have recently made changes to their positions in the company. Central Pacific Bank Trust Division purchased a new stake in shares of Reliance during the third quarter worth approximately $135,000. Eastern Bank boosted its stake in Reliance by 16.0% during the 3rd quarter. Eastern Bank now owns 937 shares of the industrial products company’s stock worth $361,000 after purchasing an additional 129 shares during the last quarter. QRG Capital Management Inc. grew its holdings in shares of Reliance by 13.2% during the second quarter. QRG Capital Management Inc. now owns 7,966 shares of the industrial products company’s stock worth $2,976,000 after buying an additional 928 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Reliance by 4.9% during the second quarter. Sequoia Financial Advisors LLC now owns 4,864 shares of the industrial products company’s stock worth $1,817,000 after buying an additional 226 shares in the last quarter. Finally, Tidal Investments LLC raised its position in shares of Reliance by 11.4% in the second quarter. Tidal Investments LLC now owns 11,868 shares of the industrial products company’s stock valued at $4,434,000 after buying an additional 1,211 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Key Reliance News

Here are the key news stories impacting Reliance this week:

• Positive Sentiment: KeyCorp raised its price target for Reliance, Inc. to $421 from $418 and maintained an “overweight” rating. The target implies roughly 4.9% potential upside from the referenced price, providing a favorable analyst signal, although the increase was relatively small. Reliance Stock Gets Price Target Increase from KeyCorp
• Neutral Sentiment: Reliance Industries is reportedly planning a major investment in compressed biogas projects in Andhra Pradesh. The initiative could benefit the Indian Reliance conglomerate, but it does not directly affect NYSE-listed RS. Reliance Industries Plans Investment in Andhra Pradesh CBG Projects
• Neutral Sentiment: Reliance Consumer plans to invest ₹600 crore in an integrated food park in West Bengal. This is unrelated to Reliance, Inc.’s industrial distribution operations. Reliance Consumer Food Park Investment
• Neutral Sentiment: Reports highlighted Jio’s potential initial public offering and roadshows by Akash and Isha Ambani. Any valuation or listing progress would primarily affect Reliance Industries and Jio, not RS. Jio IPO Roadshow Update
• Neutral Sentiment: Other headlines covered Jio pricing promotions, discounted iPhone 17 and iPhone 17 Pro offers through Reliance Digital, and a JioBharat phone promotion. These may support consumer activity for Reliance Industries but have no direct earnings read-through for RS. Reliance Jio Rs 123 Plan

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.