Reliance's (RS) Hold (C+) Rating Reaffirmed at Weiss Ratings

Key Points

• Reliance's stock has been reaffirmed with a "hold (C+)" rating by Weiss Ratings, amidst mixed assessments from various research analysts.
• As of the latest trading session, Reliance's stock opened at $281.19 and is supported by a market cap of $14.79 billion, with an average target price of $328.80.
• In its most recent earnings report, Reliance missed earnings estimates with $4.43 earnings per share, though its revenue saw a slight increase of 0.5% compared to the previous year.

Reliance (NYSE:RS - Get Free Report)'s stock had its "hold (c+)" rating reissued by research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. initiated coverage on shares of Reliance in a research report on Tuesday, September 9th. They issued an "overweight" rating and a $350.00 target price on the stock. Wells Fargo & Company raised shares of Reliance to a "hold" rating in a research report on Thursday, August 14th. Finally, Zacks Research cut shares of Reliance from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $328.80.

Reliance Trading Up 0.3%

Shares of RS stock opened at $281.19 on Wednesday. The company's 50-day moving average price is $288.19 and its 200-day moving average price is $296.42. The company has a current ratio of 3.18, a quick ratio of 1.51 and a debt-to-equity ratio of 0.14. The stock has a market cap of $14.79 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 1.34 and a beta of 0.87. Reliance has a twelve month low of $250.07 and a twelve month high of $347.43.

Reliance (NYSE:RS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $4.43 earnings per share for the quarter, missing the consensus estimate of $4.72 by ($0.29). Reliance had a net margin of 5.39% and a return on equity of 10.48%. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period in the previous year, the firm posted $4.65 EPS. The company's revenue was up .5% compared to the same quarter last year. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. As a group, equities analysts predict that Reliance will post 16.98 earnings per share for the current year.

Institutional Trading of Reliance

Several hedge funds have recently made changes to their positions in RS. Boston Partners lifted its position in shares of Reliance by 72.6% during the second quarter. Boston Partners now owns 1,763,317 shares of the industrial products company's stock worth $552,461,000 after purchasing an additional 741,417 shares in the last quarter. Norges Bank acquired a new stake in shares of Reliance during the second quarter worth about $207,741,000. Nuveen LLC purchased a new stake in shares of Reliance during the first quarter worth approximately $144,089,000. William Blair Investment Management LLC purchased a new stake in shares of Reliance during the second quarter worth approximately $72,373,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Reliance during the first quarter worth approximately $55,004,000. Institutional investors and hedge funds own 79.26% of the company's stock.

Reliance Company Profile

Reliance, Inc operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries.

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