Reliance (NYSE:RS) Price Target Cut to $376.00 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. cut its price target on Reliance from $378 to $376 while maintaining a neutral rating, implying about 3.19% downside from the current price.
• Other analyst views are mixed: Bank of America downgraded Reliance to underperform, while Seaport Research Partners and Weiss Ratings turned more bullish. Overall, MarketBeat shows an average Hold rating with a $363.50 average target.
• Reliance recently posted better-than-expected Q1 results, with EPS of $5.16 versus $4.63 expected and revenue up 15.1% year over year. The stock was trading around $388.39, near its 50-day average of $383.04.

Reliance (NYSE:RS - Get Free Report) had its price target dropped by equities researchers at JPMorgan Chase & Co. from $378.00 to $376.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the industrial products company's stock. JPMorgan Chase & Co.'s target price would indicate a potential downside of 3.19% from the company's current price.

Several other brokerages have also weighed in on RS. Bank of America lowered shares of Reliance from a "neutral" rating to an "underperform" rating and set a $365.00 price objective on the stock. in a research report on Thursday, April 30th. Seaport Research Partners upped their price target on shares of Reliance from $340.00 to $390.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Weiss Ratings upgraded shares of Reliance from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, May 18th. The Goldman Sachs Group assumed coverage on Reliance in a report on Wednesday, April 1st. They set a "neutral" rating and a $300.00 price objective for the company. Finally, Wall Street Zen raised Reliance from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $363.50.

Reliance Trading Up 0.8%

Reliance stock opened at $388.39 on Wednesday. The stock has a 50-day simple moving average of $383.04 and a 200 day simple moving average of $342.13. The stock has a market capitalization of $19.83 billion, a P/E ratio of 25.34, a PEG ratio of 1.19 and a beta of 0.97. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.24 and a current ratio of 4.39. Reliance has a 52 week low of $260.31 and a 52 week high of $419.83.

Reliance (NYSE:RS - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share for the quarter, topping analysts' consensus estimates of $4.63 by $0.53. Reliance had a return on equity of 11.37% and a net margin of 5.42%.The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the previous year, the firm earned $3.77 EPS. The firm's revenue was up 15.1% compared to the same quarter last year. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. Analysts expect that Reliance will post 19.24 earnings per share for the current year.

Insider Activity at Reliance

In other news, CFO Arthur Ajemyan sold 3,500 shares of the firm's stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $358.12, for a total transaction of $1,253,420.00. Following the transaction, the chief financial officer directly owned 16,840 shares of the company's stock, valued at approximately $6,030,740.80. This trade represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.40% of the company's stock.

Institutional Investors Weigh In On Reliance

A number of large investors have recently added to or reduced their stakes in the stock. Fulton Bank N.A. raised its holdings in Reliance by 4.9% in the 2nd quarter. Fulton Bank N.A. now owns 3,124 shares of the industrial products company's stock valued at $1,167,000 after acquiring an additional 147 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Reliance during the 2nd quarter worth $418,000. PensionDanmark Pensionsforsikringsaktieselskab lifted its position in Reliance by 542.5% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 9,766 shares of the industrial products company's stock worth $3,649,000 after purchasing an additional 8,246 shares during the period. Apella Capital LLC acquired a new stake in Reliance during the second quarter worth about $640,000. Finally, Mirador Capital Partners LP acquired a new stake in Reliance during the second quarter worth about $364,000. Institutional investors and hedge funds own 79.26% of the company's stock.

About Reliance

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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