Reliance (NYSE:RS) Stock Price Target Raised at KeyCorp

Key Points

• KeyCorp raised Reliance’s price target to $421 from $418 and maintained an “overweight” rating, implying 5.19% potential upside. However, the broader analyst consensus remains “Hold,” with an average target of $380.33.
• Reliance exceeded quarterly expectations, reporting EPS of $6.27 versus the $5.47 consensus and revenue of $4.63 billion, up 26.5% year over year. Management issued third-quarter EPS guidance of $6.40–$6.60.
• Reliance shares opened at $400.23, with a market capitalization of approximately $20.44 billion. Institutional investors own 79.26% of the stock, while two executives recently sold shares.

Reliance (NYSE:RS - Get Free Report) had its price target increased by investment analysts at KeyCorp from $418.00 to $421.00 in a research report issued on Monday, Benzinga reports. The firm currently has an "overweight" rating on the industrial products company's stock. KeyCorp's target price indicates a potential upside of 5.19% from the stock's current price.

Several other research firms also recently commented on RS. Citigroup reissued a "neutral" rating on shares of Reliance in a report on Wednesday, July 29th. Weiss Ratings restated a "buy (b-)" rating on shares of Reliance in a research report on Thursday, August 13th. Zacks Research raised shares of Reliance from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 3rd. JPMorgan Chase & Co. lowered their price objective on shares of Reliance from $398.00 to $390.00 and set a "neutral" rating for the company in a research report on Wednesday, September 9th. Finally, BMO Capital Markets lifted their price objective on shares of Reliance from $390.00 to $415.00 and gave the stock a "market perform" rating in a research note on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Reliance presently has an average rating of "Hold" and a consensus price target of $380.33.

Reliance Stock Down 0.0%

NYSE RS opened at $400.23 on Monday. The stock's 50-day moving average price is $400.03 and its 200-day moving average price is $374.75. The company has a market capitalization of $20.44 billion, a P/E ratio of 23.27, a price-to-earnings-growth ratio of 0.98 and a beta of 0.95. The company has a quick ratio of 2.27, a current ratio of 4.30 and a debt-to-equity ratio of 0.22. Reliance has a 52 week low of $260.31 and a 52 week high of $433.02.

Reliance (NYSE:RS - Get Free Report) last released its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, topping analysts' consensus estimates of $5.47 by $0.80. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The company had revenue of $4.63 billion for the quarter, compared to analysts' expectations of $4.26 billion. During the same quarter last year, the business earned $4.43 EPS. The firm's revenue was up 26.5% compared to the same quarter last year. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, equities research analysts predict that Reliance will post 23.23 earnings per share for the current year.

Insider Activity at Reliance

In related news, CFO Arthur Ajemyan sold 2,200 shares of the stock in a transaction on 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 owned 14,640 shares in the company, valued at approximately $6,004,010.40. This represents a 13.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP William Smith, II sold 2,353 shares of the firm's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $414.21, for a total value of $974,636.13. Following the completion of the sale, the senior vice president owned 19,394 shares of the company's stock, valued at approximately $8,033,188.74. This represents a 10.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.40% of the company's stock.

Institutional Investors Weigh In On Reliance

Several institutional investors have recently made changes to their positions in RS. XXEC Inc. bought a new position in Reliance in the 2nd quarter valued at $127,493,000. BlackRock Inc. bought a new stake in shares of Reliance during the second quarter worth $2,171,081,000. Bank of New York Mellon Corp purchased a new stake in shares of Reliance during the second quarter valued at $176,913,000. William Blair Investment Management LLC purchased a new stake in shares of Reliance during the second quarter valued at $142,900,000. Finally, Corient Private Wealth LP purchased a new position in Reliance in the 2nd quarter worth about $129,799,000. Institutional investors own 79.26% of the company's stock.

Reliance Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.