Reliance (NYSE:RS) Raised to “Hold” at Barclays

Reliance (NYSE:RS) was upgraded by investment analysts at Barclays to a “hold” rating in a note issued to investors on Wednesday, Zacks reports.

Other analysts have also issued research reports about the company. Zacks Research upgraded Reliance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Wells Fargo & Company dropped their price objective on shares of Reliance from $398.00 to $391.00 and set an “equal weight” rating for the company in a research note on Monday, August 24th. Wall Street Zen lowered shares of Reliance from a “strong-buy” rating to a “buy” rating in a research note on Sunday. BMO Capital Markets boosted their price objective on shares of Reliance from $390.00 to $415.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Finally, Weiss Ratings raised shares of Reliance from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Reliance has an average rating of “Hold” and an average target price of $387.43.

Reliance Trading Up 0.7%

RS opened at $406.76 on Wednesday. The firm has a market cap of $20.77 billion, a P/E ratio of 23.65, a P/E/G ratio of 0.93 and a beta of 0.95. Reliance has a 12 month low of $260.31 and a 12 month high of $433.02. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22. The stock has a 50-day moving average of $398.87 and a 200 day moving average of $380.70.

Reliance (NYSE:RS) last issued its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share for the quarter, topping the consensus estimate 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%. The firm’s revenue for the quarter was up 26.5% on a year-over-year basis. During the same period in the previous year, the firm posted $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, research analysts forecast that Reliance will post 23.70 EPS for the current year.

Insider Activity at Reliance

In related news, CFO Arthur Ajemyan sold 2,200 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $410.11, for a total value of $902,242.00. Following the completion of the transaction, the chief financial officer owned 14,640 shares of the company’s stock, valued at $6,004,010.40. The trade was a 13.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP William Smith, II sold 2,353 shares of the company’s stock in a transaction 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 approximately $8,033,188.74. This represents a 10.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Reliance

Institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its position in 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 buying an additional 31 shares during the last quarter. Greenleaf Trust raised its position in Reliance by 2.0% during the 2nd quarter. Greenleaf Trust now owns 1,614 shares of the industrial products company’s stock worth $603,000 after buying an additional 32 shares during the last quarter. Venturi Wealth Management LLC raised its position in Reliance by 0.9% during the 1st quarter. Venturi Wealth Management LLC now owns 3,979 shares of the industrial products company’s stock worth $1,209,000 after buying an additional 34 shares during the last quarter. 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 worth $250,000 after buying an additional 38 shares during the last quarter. Finally, Root Financial Partners LLC lifted its stake in Reliance by 27.6% during the 1st quarter. Root Financial Partners LLC now owns 185 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 40 shares during the period. Institutional investors own 79.26% of the company’s stock.

More Reliance News

Here are the key news stories impacting Reliance this week:

• Positive Sentiment: Analysts see potential for another earnings beat. Zacks reports that Reliance has favorable conditions for exceeding expectations in its upcoming quarterly results, which could reinforce investor confidence after the company’s prior earnings and revenue surpassed consensus estimates. Reliance Earnings Expected to Grow
• Positive Sentiment: Upcoming earnings are drawing investor attention. Reliance is projected to release quarterly results on Wednesday. Investors will focus on whether earnings momentum continues and how results compare with the company’s guidance of $6.40-$6.60 per share for the third quarter. Reliance Projected to Release Earnings
• Neutral Sentiment: Several headlines concern Reliance Industries and Jio Platforms—not Reliance, Inc. (RS). Jio Platforms, an Indian subsidiary of Reliance Industries, has set a price band of ?1,065-?1,119 for a planned ?30,213 crore IPO opening October 21. The offering may affect sentiment toward Indian-listed Reliance Industries, but it is not a direct corporate event for NYSE-listed Reliance, Inc. Jio Platforms Files Final IPO Prospectus
• Neutral Sentiment: Reliance Consumer’s new beverage launch is unrelated to RS. Reliance Consumer has introduced Joyland flavored milk in Tamil Nadu at ?20, adding competition for ITC, Amul and other Indian beverage brands. This does not represent a business development for Reliance, Inc. Reliance Consumer Launches Joyland Flavored Milk
• Neutral Sentiment: Reliance Power seizure reports also involve a different company. Reports that India’s Enforcement Directorate seized approximately ?2,027 crore of Sasan Power shares relate to Reliance Power, not Reliance, Inc. (RS), and should not be treated as a direct fundamental catalyst for RS. Reliance Power ED Seizure Order

Reliance Company Profile

Reliance, operating as Reliance Steel & Aluminum Co (NYSE: RS), is a diversified metals service center company. It distributes a broad range of metals, including carbon steel, stainless steel, aluminum, copper, brass, titanium and specialty steel products, serving manufacturers, fabricators, construction companies and other industrial customers.

The company provides value-added services designed to prepare metals for customer use. These services include cutting, leveling, slitting, sawing, machining, forming, coating, welding and other fabrication processes.