JPMorgan Chase & Co. Lowers Reliance (NYSE:RS) Price Target to $345.00

Key Points

• JPMorgan Chase & Co. has reduced the price target for Reliance Steel & Aluminum (NYSE: RS) from $350.00 to $345.00, while maintaining an "overweight" rating for the stock.
• Despite the price target decrease, it suggests a potential upside of 25.74% from the current stock price of $274.37.
• Reliance's quarterly earnings missed expectations, reporting $4.43 EPS versus the consensus estimate of $4.72, with year-over-year revenue growth of only 0.5%.

Reliance (NYSE:RS - Get Free Report) had its price objective cut by equities researchers at JPMorgan Chase & Co. from $350.00 to $345.00 in a research report issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the industrial products company's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 25.74% from the stock's current price.

A number of other research firms have also issued reports on RS. Wells Fargo & Company raised shares of Reliance to a "hold" rating in a research note on Thursday, August 14th. Zacks Research lowered shares of Reliance from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Reliance in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $327.80.

Reliance Stock Performance

Shares of NYSE:RS traded up $2.29 during trading on Monday, reaching $274.37. 25,874 shares of the company's stock traded hands, compared to its average volume of 388,127. 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 12 month low of $250.07 and a 12 month high of $347.43. The company has a 50 day moving average of $287.74 and a 200-day moving average of $296.24. The stock has a market capitalization of $14.43 billion, a P/E ratio of 19.99, a price-to-earnings-growth ratio of 1.30 and a beta of 0.87.

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 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 business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the prior year, the company earned $4.65 EPS. Reliance's quarterly revenue was up .5% on a year-over-year basis. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. On average, equities analysts expect that Reliance will post 16.98 EPS for the current year.

Institutional Investors Weigh In On Reliance

A number of large investors have recently made changes to their positions in RS. Farther Finance Advisors LLC raised its holdings in shares of Reliance by 11.1% during the first quarter. Farther Finance Advisors LLC now owns 401 shares of the industrial products company's stock valued at $116,000 after acquiring an additional 40 shares during the period. GAMMA Investing LLC raised its holdings in shares of Reliance by 17.4% during the first quarter. GAMMA Investing LLC now owns 966 shares of the industrial products company's stock valued at $279,000 after acquiring an additional 143 shares during the period. SG Americas Securities LLC raised its holdings in shares of Reliance by 567.7% during the first quarter. SG Americas Securities LLC now owns 5,629 shares of the industrial products company's stock valued at $1,625,000 after acquiring an additional 4,786 shares during the period. Fifth Third Bancorp raised its holdings in shares of Reliance by 26.9% during the first quarter. Fifth Third Bancorp now owns 822 shares of the industrial products company's stock valued at $237,000 after acquiring an additional 174 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Reliance by 20.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 34,291 shares of the industrial products company's stock valued at $9,902,000 after buying an additional 5,882 shares during the period. Institutional investors and hedge funds 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.

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