JPMorgan Chase & Co. Cuts Reliance (NYSE:RS) Price Target to $376.00

Reliance (NYSE:RS) had its price objective dropped by JPMorgan Chase & Co. from $378.00 to $376.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 3.19% from the stock’s previous close.

A number of other research analysts have also recently commented on RS. The Goldman Sachs Group assumed coverage on Reliance in a research note on Wednesday, April 1st. They issued a “neutral” rating and a $300.00 price target for the company. Seaport Research Partners boosted their price objective on Reliance from $340.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Wall Street Zen raised Reliance from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. KeyCorp lifted their price target on Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Finally, BMO Capital Markets boosted their price target on Reliance from $320.00 to $350.00 and gave the stock a “market perform” rating in a report on Monday, April 27th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $363.50.

Reliance Trading Up 0.8%

Shares of RS stock opened at $388.39 on Wednesday. Reliance has a fifty-two week low of $260.31 and a fifty-two week high of $419.83. The stock’s fifty day moving average price is $383.04 and its two-hundred day moving average price is $342.13. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.24 and a current ratio of 4.39. The company has a market cap of $19.83 billion, a PE ratio of 25.34, a P/E/G ratio of 1.19 and a beta of 0.97.

Reliance (NYSE:RS) last posted its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.63 by $0.53. Reliance had a return on equity of 11.37% and a net margin of 5.42%.The company had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter in the previous year, the firm earned $3.77 EPS. Reliance’s revenue was up 15.1% on a year-over-year basis. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. Equities analysts predict that Reliance will post 19.24 EPS for the current fiscal year.

Insider Buying and Selling at Reliance

In other news, CFO Arthur Ajemyan sold 3,500 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $358.12, for a total transaction of $1,253,420.00. Following the completion of the transaction, the chief financial officer directly owned 16,840 shares in the company, valued at $6,030,740.80. This trade represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.40% of the company’s stock.

Institutional Trading of Reliance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC bought a new stake in shares of Reliance in the 4th quarter valued at $28,000. Costello Asset Management INC bought a new position in Reliance during the first quarter worth $30,000. Brown Brothers Harriman & Co. lifted its holdings in Reliance by 86.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock valued at $31,000 after buying an additional 50 shares during the period. Greenline Wealth Management LLC acquired a new position in Reliance in the fourth quarter valued at $32,000. Finally, Quarry LP bought a new stake in Reliance during the third quarter valued at $32,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

Reliance Company Profile

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.