BMO Capital Markets Cuts Reliance (NYSE:RS) Price Target to $315.00

Key Points

• BMO Capital Markets has reduced its price target for Reliance (NYSE:RS) from $340.00 to $315.00, while maintaining an "outperform" rating, indicating a potential upside of 15.04%.
• Other analysts have also changed their ratings, with Zacks Research downgrading Reliance from a "strong-buy" to a "hold," reflecting a general shift in sentiment towards the stock.
• Reliance reported an EPS of $3.64 for the last quarter, falling short of the expected $3.68, despite achieving revenue growth of 6.8% year-over-year.

Reliance (NYSE:RS - Get Free Report) had its target price dropped by BMO Capital Markets from $340.00 to $315.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an "outperform" rating on the industrial products company's stock. BMO Capital Markets' price objective would suggest a potential upside of 15.04% from the company's current price.

Other equities analysts have also recently issued reports about the stock. Zacks Research cut shares of Reliance from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. JPMorgan Chase & Co. reduced their target price on shares of Reliance from $350.00 to $345.00 and set an "overweight" rating for the company in a report on Monday, October 13th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Reliance in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company upgraded shares of Reliance to a "hold" rating in a research report on Thursday, August 14th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Reliance currently has a consensus rating of "Hold" and an average target price of $324.80.

Reliance Price Performance

NYSE:RS opened at $273.81 on Friday. Reliance has a 12-month low of $250.07 and a 12-month high of $347.43. The firm has a market capitalization of $14.40 billion, a price-to-earnings ratio of 20.02, a P/E/G ratio of 1.31 and a beta of 0.87. The stock's 50 day moving average price is $285.48 and its two-hundred day moving average price is $295.65. The company has a quick ratio of 1.51, a current ratio of 3.18 and a debt-to-equity ratio of 0.14.

Reliance (NYSE:RS - Get Free Report) last issued its earnings results on Wednesday, October 22nd. The industrial products company reported $3.64 EPS for the quarter, missing the consensus estimate of $3.68 by ($0.04). The business had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.54 billion. Reliance had a return on equity of 10.41% and a net margin of 5.23%.The business's revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.64 earnings per share. Reliance has set its Q4 2025 guidance at 2.650-2.85 EPS. On average, analysts anticipate that Reliance will post 16.98 earnings per share for the current year.

Institutional Trading of Reliance

Institutional investors have recently bought and sold shares of the business. Boston Partners grew its position in shares of Reliance by 72.6% during the 2nd quarter. Boston Partners now owns 1,763,317 shares of the industrial products company's stock worth $552,461,000 after purchasing an additional 741,417 shares in the last quarter. Norges Bank bought a new stake in shares of Reliance in the second quarter valued at approximately $207,741,000. Nuveen LLC acquired a new stake in Reliance during the first quarter worth approximately $144,089,000. William Blair Investment Management LLC bought a new position in Reliance during the 2nd quarter worth $72,373,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Reliance in the 1st quarter valued at $55,004,000. Institutional investors own 79.26% of the company's stock.

About Reliance

Reliance, Inc operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries.

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