Reliance (NYSE:RS) Upgraded by Wall Street Zen to "Strong-Buy" Rating

Key Points

• Wall Street Zen upgraded Reliance to “strong-buy” from “buy,” while Zacks Research also issued a strong-buy upgrade. However, the broader analyst consensus remains “hold,” with a $378.67 average price target.
• Reliance shares opened at $387.58, up 1.9%, with a market capitalization of approximately $19.79 billion. The stock has traded between $260.31 and $433.02 over the past year.
• The company exceeded quarterly expectations, reporting $6.27 in EPS versus the $5.47 consensus and $4.63 billion in revenue, up 26.5% year over year. Reliance guided to third-quarter EPS of $6.40–$6.60.

Reliance (NYSE:RS - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Sunday.

Several other brokerages also recently commented on RS. Zacks Research upgraded Reliance from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 3rd. JPMorgan Chase & Co. lowered their price target on shares of Reliance from $378.00 to $376.00 and set a "neutral" rating on the stock in a report on Wednesday, July 15th. Weiss Ratings restated a "buy (b-)" rating on shares of Reliance in a research report on Thursday, August 13th. Bank of America cut shares of Reliance from a "neutral" rating to an "underperform" rating and set a $365.00 price objective for the company. in a research note on Thursday, April 30th. Finally, Citigroup reaffirmed a "neutral" rating on shares of Reliance in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $378.67.

Reliance Trading Up 1.9%

Shares of RS stock opened at $387.58 on Friday. The company's fifty day simple moving average is $398.80 and its two-hundred day simple moving average is $360.65. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.30 and a quick ratio of 2.27. Reliance has a 1 year low of $260.31 and a 1 year high of $433.02. The stock has a market capitalization of $19.79 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 1.00 and a beta of 0.96.

Reliance (NYSE:RS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, topping analysts' consensus estimates of $5.47 by $0.80. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.26 billion. During the same period last year, the company earned $4.43 earnings per share. The business's revenue for the quarter was up 26.5% on a year-over-year basis. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, analysts anticipate that Reliance will post 22.23 earnings per share for the current year.

Insider Activity

In related news, CFO Arthur Ajemyan sold 2,200 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $410.11, for a total transaction of $902,242.00. Following the transaction, the chief financial officer owned 14,640 shares of the company's stock, valued at approximately $6,004,010.40. This trade represents a 13.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP William A. Smith II sold 2,353 shares of the company's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $414.21, for a total transaction of $974,636.13. Following the sale, the senior vice president owned 19,394 shares of the company's stock, valued at approximately $8,033,188.74. The trade was a 10.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC increased its position in shares of Reliance by 1.7% in the first quarter. Parallel Advisors LLC now owns 1,908 shares of the industrial products company's stock valued at $580,000 after acquiring an additional 31 shares during the period. Greenleaf Trust grew its stake in shares of Reliance by 2.0% in the second quarter. Greenleaf Trust now owns 1,614 shares of the industrial products company's stock worth $603,000 after purchasing an additional 32 shares during the last quarter. Venturi Wealth Management LLC grew its stake in shares of Reliance by 0.9% in 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 during the last quarter. First Citizens Bank & Trust Co. increased its holdings in Reliance by 1.7% during the 4th quarter. First Citizens Bank & Trust Co. now owns 2,036 shares of the industrial products company's stock valued at $588,000 after purchasing an additional 35 shares during the period. Finally, Kathmere Capital Management LLC raised its position in Reliance by 4.8% during the 1st quarter. Kathmere Capital Management LLC now owns 824 shares of the industrial products company's stock valued at $250,000 after purchasing an additional 38 shares during the last quarter. Institutional investors own 79.26% of the company's stock.

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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