Reliance (NYSE:RS) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Reliance from “strong buy” to “buy,” while the broader analyst consensus remains “hold,” with an average price target of $382.
• Reliance shares opened at $402.45, near their 52-week high of $433.02. The company trades at a P/E ratio of 23.40 and has a market capitalization of approximately $20.55 billion.
• Quarterly results exceeded expectations, with EPS of $6.27 versus the $5.47 estimate and revenue of $4.63 billion. Two executives recently sold shares, while institutional investors own 79.26% of the company.

Reliance (NYSE:RS - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report issued on Sunday, Wall Street Zen reports.

RS has been the subject of a number of other reports. Weiss Ratings raised shares of Reliance from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday. KeyCorp boosted their price target on Reliance from $418.00 to $421.00 and gave the stock an "overweight" rating in a research note on Monday, October 5th. JPMorgan Chase & Co. raised their price objective on Reliance from $390.00 to $400.00 and gave the company a "neutral" rating in a research note on Friday. BMO Capital Markets lifted their price objective on Reliance from $390.00 to $415.00 and gave the stock a "market perform" rating in a report on Monday, July 27th. Finally, Wells Fargo & Company reduced their target price on Reliance from $398.00 to $391.00 and set an "equal weight" rating for the company in a research note on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $382.00.

Reliance Price Performance

Shares of NYSE:RS opened at $402.45 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.30 and a quick ratio of 2.27. Reliance has a 12 month low of $260.31 and a 12 month high of $433.02. The company's fifty day moving average price is $399.54 and its 200 day moving average price is $377.89. The firm has a market capitalization of $20.55 billion, a P/E ratio of 23.40, a P/E/G ratio of 0.99 and a beta of 0.95.

Reliance (NYSE:RS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.47 by $0.80. The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.26 billion. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The business's quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter last year, the firm posted $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, sell-side analysts predict that Reliance will post 23.70 earnings per share for the current fiscal year.

Insider Activity at Reliance

In other Reliance news, CFO Arthur Ajemyan sold 2,200 shares of the business's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $410.11, for a total transaction of $902,242.00. Following the completion of the sale, the chief financial officer owned 14,640 shares in the company, valued at $6,004,010.40. The trade was a 13.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP William A. Smith II sold 2,353 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $414.21, for a total transaction of $974,636.13. Following the sale, the senior vice president directly owned 19,394 shares in the company, valued at $8,033,188.74. This trade represents a 10.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.40% of the company's stock.

Institutional Investors Weigh In On Reliance

Institutional investors have recently modified their holdings of the business. Costello Asset Management INC acquired a new position in Reliance during the 1st quarter valued at approximately $30,000. N.E.W. Advisory Services LLC acquired a new position in shares of Reliance during the second quarter valued at $37,000. Compass Financial Management LLC bought a new position in shares of Reliance during the second quarter worth about $46,000. Osterweis Capital Management Inc. bought a new position in shares of Reliance during the second quarter worth about $41,000. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Reliance by 40.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 167 shares of the industrial products company's stock worth $51,000 after acquiring an additional 48 shares during the period. 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.

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