Reliance (NYSE:RS) Price Target Cut to $372.00 by Analysts at Wells Fargo & Company

Key Points

• Wells Fargo cut Reliance’s price target from $376 to $372 and kept an “equal weight” rating, implying about 2.44% downside from the prior close.
• Analyst sentiment is mixed overall: Bank of America downgraded the stock to underperform, while KeyCorp, Seaport Research Partners, Wall Street Zen, and Weiss Ratings issued more positive views. The consensus rating remains Hold with an average price target of $363.83.
• Reliance recently reported strong quarterly results, with EPS of $5.16 beating expectations and revenue rising 15.1% year over year. The company also guided Q2 2026 EPS at 5.15 to 5.35.

Reliance (NYSE:RS - Get Free Report) had its target price decreased by Wells Fargo & Company from $376.00 to $372.00 in a report released on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the industrial products company's stock. Wells Fargo & Company's target price suggests a potential downside of 2.44% from the company's previous close.

Several other research analysts have also commented on the stock. Bank of America lowered shares of Reliance from a "neutral" rating to an "underperform" rating and set a $365.00 price target for the company. in a report on Thursday, April 30th. KeyCorp raised their target price on shares of Reliance from $378.00 to $418.00 and gave the stock an "overweight" rating in a report on Wednesday, June 24th. Wall Street Zen upgraded Reliance from a "hold" rating to a "buy" rating in a research note on Saturday, April 11th. Seaport Research Partners upped their target price on Reliance from $340.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. Finally, Weiss Ratings upgraded Reliance from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, May 18th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Reliance currently has an average rating of "Hold" and a consensus price target of $363.83.

Reliance Stock Performance

RS stock opened at $381.29 on Thursday. The company has a current ratio of 4.39, a quick ratio of 2.24 and a debt-to-equity ratio of 0.24. The firm has a market cap of $19.46 billion, a P/E ratio of 24.87, a P/E/G ratio of 1.17 and a beta of 0.97. Reliance has a 12-month low of $260.31 and a 12-month high of $419.83. The stock's 50 day simple moving average is $381.56 and its 200 day simple moving average is $339.56.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $5.16 EPS for the quarter, topping analysts' consensus estimates of $4.63 by $0.53. Reliance had a net margin of 5.42% and a return on equity of 11.37%. The firm had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the previous year, the company posted $3.77 earnings per share. The firm's revenue was up 15.1% on a year-over-year basis. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. As a group, equities research analysts predict that Reliance will post 19.26 EPS for the current year.

Insider Buying and Selling at Reliance

In related news, CFO Arthur Ajemyan sold 3,500 shares of the firm's stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $358.12, for a total transaction of $1,253,420.00. Following the completion of the transaction, the chief financial officer owned 16,840 shares of the company's stock, valued at $6,030,740.80. This trade represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Reliance

Hedge funds and other institutional investors have recently bought and sold shares of the business. Elevation Wealth Partners LLC bought a new position in shares of Reliance during the 4th quarter valued at about $28,000. Costello Asset Management INC acquired a new stake in Reliance during the first quarter valued at approximately $30,000. Brown Brothers Harriman & Co. boosted its holdings in Reliance by 86.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company's stock worth $31,000 after buying an additional 50 shares in the last quarter. Greenline Wealth Management LLC bought a new stake in Reliance during the fourth quarter worth approximately $32,000. Finally, Quarry LP acquired a new position in Reliance in the third quarter worth approximately $32,000. 79.26% of the stock is currently owned by institutional investors.

Reliance Company Profile

Reliance Steel & Aluminum Co NYSE: RS is a leading metals service center company that distributes and processes a broad array of metal products. The company offers cut-to-length, shearing, blanking, sawing, bending, machining and value-added services for carbon and alloy steel, stainless steel, aluminum, brass, titanium and specialty metal alloys. Its products serve diverse end markets, including energy, infrastructure, general manufacturing, transportation, aerospace and defense.

Founded in 1939 in Los Angeles, Reliance Steel & Aluminum has grown through a combination of organic expansion and strategic acquisitions.

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