JPMorgan Chase & Co. Begins Coverage on Reliance (NYSE:RS)

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.

Stock analysts at JPMorgan Chase & Co. started coverage on shares of Reliance (NYSE:RS - Get Free Report) in a research note issued on Tuesday, MarketBeat.com reports. The brokerage set an "overweight" rating and a $350.00 price target on the industrial products company's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 17.28% from the company's current price.

A number of other equities analysts have also commented on RS. Wells Fargo & Company raised Reliance to a "hold" rating in a research note on Thursday, August 14th. Zacks Research lowered Reliance from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Reliance has an average rating of "Hold" and an average price target of $328.80.

Reliance Trading Down 0.2%

Shares of RS opened at $298.42 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.18 and a quick ratio of 1.51. Reliance has a 1 year low of $250.07 and a 1 year high of $347.43. The company has a 50 day simple moving average of $304.59 and a two-hundred day simple moving average of $296.54. The firm has a market cap of $15.69 billion, a P/E ratio of 21.78, a price-to-earnings-growth ratio of 1.42 and a beta of 0.89.

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

Institutional Investors Weigh In On Reliance

Institutional investors have recently modified their holdings of the stock. Merewether Investment Management LP bought a new stake in shares of Reliance in the 4th quarter valued at approximately $9,963,000. GAMMA Investing LLC lifted its stake in shares of Reliance by 17.4% in the 1st quarter. GAMMA Investing LLC now owns 966 shares of the industrial products company's stock valued at $279,000 after purchasing an additional 143 shares during the last quarter. NDVR Inc. lifted its stake in shares of Reliance by 5.8% in the 4th quarter. NDVR Inc. now owns 882 shares of the industrial products company's stock valued at $237,000 after purchasing an additional 48 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Reliance by 567.7% in the 1st quarter. SG Americas Securities LLC now owns 5,629 shares of the industrial products company's stock valued at $1,625,000 after purchasing an additional 4,786 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Reliance by 3.5% in the fourth quarter. BNP Paribas Financial Markets now owns 23,469 shares of the industrial products company's stock worth $6,319,000 after buying an additional 787 shares during the period. 79.26% of the stock is owned by institutional investors.

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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