Reliance (NYSE:RS) Price Target Raised to $398.00 at Wells Fargo & Company

Key Points

• Wells Fargo raised its price target on Reliance from $372 to $398 while keeping an “equal weight” rating, implying a slight downside from the current share price.
• Reliance reported better-than-expected Q2 results, posting EPS of $6.27 and revenue of $4.63 billion, both above analyst estimates.
• Management also lifted Q3 2026 EPS guidance to $6.40-$6.60, and the company declared a $1.25 quarterly dividend, reinforcing a positive outlook for shareholders.

Reliance (NYSE:RS - Get Free Report) had its price objective raised by equities researchers at Wells Fargo & Company from $372.00 to $398.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the industrial products company's stock. Wells Fargo & Company's target price indicates a potential downside of 1.91% from the company's current price.

A number of other research analysts also recently commented on the stock. Seaport Research Partners boosted their price objective on shares of Reliance from $340.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. lowered their target price on Reliance from $378.00 to $376.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 15th. BMO Capital Markets increased their price objective on Reliance from $320.00 to $350.00 and gave the stock a "market perform" rating in a report on Monday, April 27th. Bank of America downgraded Reliance from a "neutral" rating to an "underperform" rating and set a $365.00 price objective on the stock. in a research note on Thursday, April 30th. Finally, Wall Street Zen upgraded shares of Reliance from a "hold" rating to a "buy" rating in a research note on Saturday, April 11th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Reliance has an average rating of "Hold" and an average price target of $367.83.

Reliance Price Performance

NYSE RS opened at $405.74 on Thursday. The company has a 50-day moving average price of $385.48 and a two-hundred day moving average price of $346.33. Reliance has a 52 week low of $260.31 and a 52 week high of $419.83. The stock has a market cap of $20.71 billion, a price-to-earnings ratio of 25.58, a price-to-earnings-growth ratio of 1.18 and a beta of 0.97. The company has a current ratio of 4.39, a quick ratio of 2.24 and a debt-to-equity ratio of 0.24.

Reliance (NYSE:RS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share for the quarter, beating analysts' consensus estimates of $5.47 by $0.80. The business had revenue of $4.63 billion for the quarter, compared to analysts' expectations of $4.26 billion. Reliance had a net margin of 5.42% and a return on equity of 11.37%. The company's revenue was up 26.5% on a year-over-year basis. During the same period in the previous year, the business earned $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Analysts forecast that Reliance will post 19.24 EPS for the current year.

Insider Transactions at Reliance

In other Reliance news, CFO Arthur Ajemyan sold 3,500 shares of the stock in a transaction on Monday, April 27th. The shares were sold at an average price of $358.12, for a total value of $1,253,420.00. Following the completion of the sale, the chief financial officer directly owned 16,840 shares of the company's stock, valued at $6,030,740.80. This represents a 17.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.40% of the company's stock.

Institutional Investors Weigh In On Reliance

Several large investors have recently modified their holdings of RS. Parallel Advisors LLC boosted its stake in shares of Reliance by 1.7% during the 1st quarter. Parallel Advisors LLC now owns 1,908 shares of the industrial products company's stock worth $580,000 after buying an additional 31 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in 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 acquiring an additional 34 shares in the last quarter. First Citizens Bank & Trust Co. raised its holdings in 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 acquiring an additional 35 shares in the last quarter. Kathmere Capital Management LLC boosted its position in Reliance by 4.9% during the fourth quarter. Kathmere Capital Management LLC now owns 786 shares of the industrial products company's stock valued at $227,000 after purchasing an additional 37 shares during the last quarter. Finally, Root Financial Partners LLC boosted its position in Reliance by 27.6% during the first quarter. Root Financial Partners LLC now owns 185 shares of the industrial products company's stock valued at $56,000 after purchasing an additional 40 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors.

Reliance News Roundup

Here are the key news stories impacting Reliance this week:

• Positive Sentiment: Reliance beat Q2 earnings and revenue estimates, with EPS of $6.27 and revenue of $4.63 billion, signaling stronger-than-expected demand and pricing. Reliance, Inc. Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Management raised third-quarter 2026 EPS guidance to $6.40-$6.60, above the consensus estimate, which may support investor confidence in the outlook. Reliance, Inc. Reports Second Quarter 2026 Financial Results
• Neutral Sentiment: The company declared a quarterly dividend of $1.25 per share, maintaining income appeal for shareholders, with a 1.3% annualized yield.
• Neutral Sentiment: Several follow-up reports highlighted the same earnings beat, but did not add materially new information beyond the initial results. Reliance tops Q2 estimates as border wall project boosts earnings
• Negative Sentiment: There are no major negative developments in the news flow provided, so sentiment appears driven primarily by the earnings beat and raised guidance.

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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