Reliance (NYSE:RS) Given New $390.00 Price Target at JPMorgan Chase & Co.

Reliance (NYSE:RS) had its target price lowered by equities researchers at JPMorgan Chase & Co. from $398.00 to $390.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 1.10% from the stock’s current price.

A number of other equities research analysts have also weighed in on RS. KeyCorp upped their target price on shares of Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Wall Street Zen lowered Reliance from a “strong-buy” rating to a “buy” rating in a report on Monday, August 31st. BMO Capital Markets increased their price objective on Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Zacks Research upgraded Reliance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Finally, Wells Fargo & Company cut their target price on Reliance from $398.00 to $391.00 and set an “equal weight” rating on the stock in a research report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $379.83.

Reliance Stock Down 1.0%

Reliance stock traded down $3.98 during mid-day trading on Wednesday, reaching $394.33. The stock had a trading volume of 69,016 shares, compared to its average volume of 351,511. The firm has a market capitalization of $20.13 billion, a PE ratio of 22.93, a price-to-earnings-growth ratio of 1.03 and a beta of 0.96. Reliance has a fifty-two week low of $260.31 and a fifty-two week high of $433.02. The stock’s 50-day simple moving average is $397.95 and its 200-day simple moving average is $364.69. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.27 and a current ratio of 4.30.

Reliance (NYSE:RS) last issued its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.47 by $0.80. The company had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.26 billion. Reliance had a return on equity of 12.51% and a net margin of 5.65%.Reliance’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same period last year, the business earned $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, sell-side analysts forecast that Reliance will post 22.23 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP William Smith, II sold 2,353 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $414.21, for a total transaction of $974,636.13. Following the completion of the sale, the senior vice president directly owned 19,394 shares of the company’s stock, valued at approximately $8,033,188.74. This trade represents a 10.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Arthur Ajemyan sold 2,200 shares of Reliance stock in a transaction on Friday, July 31st. The stock was sold at an average price of $410.11, for a total value of $902,242.00. Following the sale, the chief financial officer owned 14,640 shares in the company, valued at $6,004,010.40. This trade represents a 13.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Reliance

A number of hedge funds and other institutional investors have recently made changes to their positions in RS. Arjuna Capital purchased a new stake in Reliance during the 4th quarter valued at $1,838,000. Forsta AP Fonden bought a new position in Reliance in the fourth quarter worth $2,022,000. PensionDanmark Pensionsforsikringsaktieselskab increased its stake in shares of Reliance by 542.5% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 9,766 shares of the industrial products company’s stock worth $3,649,000 after acquiring an additional 8,246 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Reliance by 4.9% during the first quarter. Bank of America Corp DE now owns 263,191 shares of the industrial products company’s stock valued at $79,989,000 after purchasing an additional 12,282 shares during the last quarter. Finally, Versor Investments LP bought a new position in Reliance during the 4th quarter valued at approximately $399,000. 79.26% of the stock is owned by hedge funds and other institutional investors.

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.