Reliance (NYSE:RS) Stock Rating Upgraded by Wall Street Zen

Reliance (NYSE:RS) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

RS has been the topic of several other reports. Weiss Ratings raised shares of Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Seaport Research Partners lifted their price objective on Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Bank of America cut Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price objective for the company. in a report on Thursday, April 30th. Citigroup reaffirmed a “neutral” rating on shares of Reliance in a report on Wednesday. Finally, BMO Capital Markets raised their target price on Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $378.67.

Reliance Stock Performance

Shares of NYSE RS opened at $406.98 on Friday. The company has a 50 day simple moving average of $391.33 and a two-hundred day simple moving average of $351.33. The stock has a market cap of $20.78 billion, a price-to-earnings ratio of 23.66, a PEG ratio of 1.14 and a beta of 0.96. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22. Reliance has a 12 month low of $260.31 and a 12 month high of $419.83.

Reliance (NYSE:RS) last released its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share for the quarter, topping analysts’ consensus estimates of $5.47 by $0.80. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The firm had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same quarter in the prior year, the business earned $4.43 earnings per share. The business’s quarterly revenue was up 26.5% compared to the same quarter last year. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, analysts predict that Reliance will post 20.37 earnings per share for the current year.

Insider Buying and Selling at Reliance

In other Reliance news, SVP William A. Smith II sold 2,353 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $414.21, for a total value of $974,636.13. Following the completion of the transaction, the senior vice president owned 19,394 shares in the company, valued at approximately $8,033,188.74. This represents a 10.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Reliance

A number of hedge funds have recently bought and sold shares of RS. Fulton Bank N.A. increased its position in shares of Reliance by 4.9% in the second quarter. Fulton Bank N.A. now owns 3,124 shares of the industrial products company’s stock valued at $1,167,000 after buying an additional 147 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Reliance during the 2nd quarter worth approximately $418,000. PensionDanmark Pensionsforsikringsaktieselskab lifted its position in shares of Reliance by 542.5% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 9,766 shares of the industrial products company’s stock valued at $3,649,000 after buying an additional 8,246 shares in the last quarter. Apella Capital LLC purchased a new position in shares of Reliance during the 2nd quarter valued at approximately $640,000. Finally, Mirador Capital Partners LP acquired a new stake in Reliance in the 2nd quarter valued at $364,000. Hedge funds and other institutional investors own 79.26% of the company’s stock.

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.