Reliance (NYSE:RS) Now Covered by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has initiated coverage on Reliance (NYSE:RS) with an "overweight" rating and a price target of $350.00, indicating a potential upside of 17.28% from the current price.
• Reliance recently reported earnings of $4.43 per share, missing analysts' estimates, and posted quarterly revenue of $3.66 billion, which aligns with expectations.
• Institutional investors hold 79.26% of Reliance's stock, with significant recent investments from various firms, reflecting strong market interest.

JPMorgan Chase & Co. assumed coverage on shares of Reliance (NYSE:RS - Free Report) in a report published on Tuesday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $350.00 target price on the industrial products company's stock.

A number of other research firms also recently weighed in on RS. Wells Fargo & Company upgraded Reliance to a "hold" rating in a research report on Thursday, August 14th. Zacks Research downgraded Reliance from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $328.80.

Reliance Price Performance

Shares of RS traded down $6.22 during trading hours on Tuesday, reaching $290.61. 227,307 shares of the company's stock traded hands, compared to its average volume of 267,833. The firm's 50 day simple moving average is $302.06 and its 200-day simple moving average is $296.44. The stock has a market cap of $15.28 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 1.41 and a beta of 0.89. Reliance has a 12 month low of $250.07 and a 12 month high of $347.43. The company has a current ratio of 3.18, a quick ratio of 1.51 and a debt-to-equity ratio of 0.14.

Reliance (NYSE:RS - Get Free Report) last released its earnings results on Wednesday, July 23rd. The industrial products company reported $4.43 earnings per share for the quarter, missing analysts' consensus estimates of $4.72 by ($0.29). The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.66 billion. Reliance had a return on equity of 10.48% and a net margin of 5.39%.The business's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.65 EPS. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. Equities analysts expect that Reliance will post 16.98 EPS for the current year.

Reliance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $1.20 dividend. The ex-dividend date was Friday, August 15th. This represents a $4.80 annualized dividend and a yield of 1.7%. Reliance's payout ratio is presently 35.04%.

Institutional Trading of Reliance

Several hedge funds and other institutional investors have recently bought and sold shares of RS. TCTC Holdings LLC lifted its position in Reliance by 138.9% in the first quarter. TCTC Holdings LLC now owns 86 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Private Trust Co. NA lifted its position in Reliance by 417.6% in the second quarter. Private Trust Co. NA now owns 88 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 71 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in Reliance in the first quarter valued at approximately $29,000. Wayfinding Financial LLC bought a new stake in Reliance in the first quarter valued at approximately $30,000. Finally, Allworth Financial LP lifted its position in Reliance by 46.3% in the second quarter. Allworth Financial LP now owns 139 shares of the industrial products company's stock valued at $44,000 after purchasing an additional 44 shares during the last quarter. Institutional investors own 79.26% of the company's stock.

Reliance Company Profile

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.