Reliance (NYSE:RS) Upgraded to Strong-Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Reliance to “strong-buy” from “buy,” although the broader analyst consensus remains “hold,” with an average price target of $378.67.
• Reliance reported quarterly EPS of $6.27, beating estimates of $5.47, while revenue reached $4.63 billion and rose 26.5% year over year. Management guided for third-quarter 2026 EPS of $6.40–$6.60.
• Shares opened at $406.98, near their 12-month high of $419.83, and institutional investors own 79.26% of the stock; an insider also sold roughly $975,000 worth of shares.

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 report issued on Saturday.

A number of other research analysts have also recently commented on RS. Citigroup reiterated a "neutral" rating on shares of Reliance in a report on Wednesday. JPMorgan Chase & Co. cut their target price on Reliance from $378.00 to $376.00 and set a "neutral" rating for the company in a research note on Wednesday, July 15th. BMO Capital Markets lifted their target price on Reliance from $390.00 to $415.00 and gave the company a "market perform" rating in a research report on Monday, July 27th. Wells Fargo & Company upped their price target on Reliance from $372.00 to $398.00 and gave the company an "equal weight" rating in a research note on Thursday, July 23rd. Finally, Seaport Research Partners increased their price target on Reliance from $340.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, April 28th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $378.67.

Reliance Price Performance

Shares of RS stock opened at $406.98 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.30 and a quick ratio of 2.27. The company has a market capitalization of $20.78 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97. The firm's 50-day moving average is $391.33 and its two-hundred day moving average is $351.05. Reliance has a 12 month low of $260.31 and a 12 month high of $419.83.

Reliance (NYSE:RS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share for the quarter, beating the consensus estimate of $5.47 by $0.80. The business had revenue of $4.63 billion during the quarter, compared to analysts' expectations of $4.26 billion. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The business's revenue for the quarter was up 26.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Analysts predict that Reliance will post 20.37 earnings per share for the current year.

Insiders Place Their Bets

In other Reliance news, SVP William A. Smith II sold 2,353 shares of the business's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $414.21, for a total value of $974,636.13. Following the sale, the senior vice president owned 19,394 shares of the company's stock, valued at $8,033,188.74. The trade was a 10.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.40% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Costello Asset Management INC acquired a new stake in shares of Reliance in the first quarter valued at $30,000. Brown Brothers Harriman & Co. lifted its stake in Reliance by 86.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company's stock worth $31,000 after acquiring an additional 50 shares in the last quarter. Greenline Wealth Management LLC purchased a new position in Reliance during the 4th quarter valued at about $32,000. Quarry LP purchased a new position in Reliance during the 3rd quarter valued at about $32,000. Finally, Parkside Financial Bank & Trust grew its position in Reliance by 87.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 55 shares in the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

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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