Wells Fargo & Company Cuts Reliance (NYSE:RS) Price Target to $284.00

Key Points

• Wells Fargo & Company has lowered its price target for Reliance (NYSE:RS) from $296.00 to $284.00, maintaining an "equal weight" rating.
• Reliance reported a quarterly EPS of $3.64, missing estimates slightly, while revenue increased by 6.8% year-over-year to $3.65 billion.
• There is a mixed outlook from analysts, with three giving a Buy rating and five issuing a Hold rating, resulting in an average target price of $322.40 for the stock.

Reliance (NYSE:RS - Get Free Report) had its price target lowered by equities research analysts at Wells Fargo & Company from $296.00 to $284.00 in a report issued on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the industrial products company's stock. Wells Fargo & Company's price objective would suggest a potential upside of 1.88% from the stock's previous close.

RS has been the subject of a number of other research reports. Weiss Ratings reissued a "hold (c+)" rating on shares of Reliance in a research note on Wednesday, October 8th. BMO Capital Markets lowered their price objective on Reliance from $340.00 to $315.00 and set an "outperform" rating on the stock in a research report on Friday. JPMorgan Chase & Co. lowered their price target on Reliance from $350.00 to $345.00 and set an "overweight" rating on the stock in a report on Monday, October 13th. Finally, Zacks Research lowered Reliance from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Reliance has an average rating of "Hold" and an average target price of $322.40.

Reliance Price Performance

RS stock traded up $5.03 during mid-day trading on Friday, hitting $278.77. 38,778 shares of the stock were exchanged, compared to its average volume of 387,024. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.18 and a quick ratio of 1.51. The business has a fifty day moving average price of $285.48 and a 200 day moving average price of $295.65. Reliance has a 12 month low of $250.07 and a 12 month high of $347.43. The stock has a market capitalization of $14.66 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.31 and a beta of 0.87.

Reliance (NYSE:RS - Get Free Report) last issued its quarterly earnings results on Wednesday, October 22nd. The industrial products company reported $3.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.68 by ($0.04). Reliance had a return on equity of 10.41% and a net margin of 5.23%.The firm had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same period last year, the firm earned $3.64 EPS. The company's revenue for the quarter was up 6.8% on a year-over-year basis. Reliance has set its Q4 2025 guidance at 2.650-2.85 EPS. On average, sell-side analysts anticipate that Reliance will post 16.98 EPS for the current year.

Institutional Trading of Reliance

A number of hedge funds have recently bought and sold shares of RS. TCTC Holdings LLC raised its holdings in Reliance by 138.9% in the 1st quarter. TCTC Holdings LLC now owns 86 shares of the industrial products company's stock valued at $25,000 after acquiring an additional 50 shares during the last quarter. Private Trust Co. NA grew its stake in shares of Reliance by 417.6% in the 2nd quarter. Private Trust Co. NA now owns 88 shares of the industrial products company's stock valued at $28,000 after buying an additional 71 shares during the period. N.E.W. Advisory Services LLC purchased a new stake in shares of Reliance in the 1st quarter valued at approximately $29,000. Wayfinding Financial LLC purchased a new stake in shares of Reliance in the 1st quarter valued at approximately $30,000. Finally, Allworth Financial LP grew its stake in shares of Reliance by 46.3% in the 2nd quarter. Allworth Financial LP now owns 139 shares of the industrial products company's stock valued at $44,000 after buying an additional 44 shares during the period. Institutional investors and hedge funds own 79.26% of the company's stock.

About Reliance

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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