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

Key Points

• JPMorgan Chase & Co. raised its price target on Reliance to $345 (from $340) while maintaining a "neutral" rating, a target that the firm says implies about a 2.08% downside from the stock's then-current price.
• Reliance beat Q1 expectations with $5.16 EPS vs. $4.63 consensus and revenue of $4.03B (up 15.1% YoY), set Q2 guidance of $5.150–5.350 EPS, and saw shares trade up to about $352.33.
• Insiders have been sellers recently: SVP William A. Smith II and COO Stephen P. Koch sold large stakes (reducing their holdings by ~23% and ~63%, respectively), leaving insiders with roughly 0.40% ownership.

Reliance (NYSE:RS - Get Free Report) had its target price upped by analysts at JPMorgan Chase & Co. from $340.00 to $345.00 in a report released on Friday,Benzinga reports. The firm presently has a "neutral" rating on the industrial products company's stock. JPMorgan Chase & Co.'s price target would indicate a potential downside of 2.08% from the company's current price.

RS has been the topic of a number of other reports. Wall Street Zen raised shares of Reliance from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Reliance in a research report on Monday, December 29th. The Goldman Sachs Group assumed coverage on shares of Reliance in a research report on Wednesday, April 1st. They set a "neutral" rating and a $300.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of Reliance from $323.00 to $330.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 15th. Finally, KeyCorp assumed coverage on shares of Reliance in a research report on Wednesday, March 25th. They set an "overweight" rating and a $341.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $331.83.

Reliance Trading Up 2.3%

Shares of RS traded up $7.78 during mid-day trading on Friday, hitting $352.33. The company had a trading volume of 188,645 shares, compared to its average volume of 354,439. The business's 50-day simple moving average is $314.37 and its 200-day simple moving average is $301.99. The company has a quick ratio of 2.30, a current ratio of 4.88 and a debt-to-equity ratio of 0.20. Reliance has a 1-year low of $260.31 and a 1-year high of $365.59. The stock has a market cap of $18.23 billion, a PE ratio of 22.99, a P/E/G ratio of 1.33 and a beta of 0.88.

Reliance (NYSE:RS - Get Free Report) last released its earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.53. Reliance had a net margin of 5.42% and a return on equity of 11.32%. The business had revenue of $4.03 billion for the quarter, compared to analysts' expectations of $3.89 billion. During the same period last year, the company earned $3.77 earnings per share. The company's quarterly revenue was up 15.1% on a year-over-year basis. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. Sell-side analysts forecast that Reliance will post 17.65 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP William A. Smith II sold 6,615 shares of the business's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $298.61, for a total transaction of $1,975,305.15. Following the transaction, the senior vice president directly owned 21,747 shares of the company's stock, valued at approximately $6,493,871.67. The trade was a 23.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Stephen Paul Koch sold 24,060 shares of the business's stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $321.62, for a total transaction of $7,738,177.20. Following the transaction, the chief operating officer directly owned 14,021 shares in the company, valued at approximately $4,509,434.02. The trade was a 63.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.40% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Venturi Wealth Management LLC lifted its position in shares of Reliance by 0.9% during the first quarter. Venturi Wealth Management LLC now owns 3,979 shares of the industrial products company's stock worth $1,209,000 after purchasing an additional 34 shares in the last quarter. First Citizens Bank & Trust Co. lifted its position in shares of Reliance by 1.7% during the fourth quarter. First Citizens Bank & Trust Co. now owns 2,036 shares of the industrial products company's stock worth $588,000 after purchasing an additional 35 shares in the last quarter. Masso Torrence Wealth Management Inc. lifted its position in shares of Reliance by 3.3% during the third quarter. Masso Torrence Wealth Management Inc. now owns 1,148 shares of the industrial products company's stock worth $322,000 after purchasing an additional 37 shares in the last quarter. Kathmere Capital Management LLC increased its stake in shares of Reliance by 4.9% in the fourth quarter. Kathmere Capital Management LLC now owns 786 shares of the industrial products company's stock worth $227,000 after buying an additional 37 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of Reliance by 13.2% in the third quarter. Farther Finance Advisors LLC now owns 325 shares of the industrial products company's stock worth $91,000 after buying an additional 38 shares during the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

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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