The Goldman Sachs Group Begins Coverage on Reliance (NYSE:RS)

Investment analysts at The Goldman Sachs Group initiated coverage on shares of Reliance (NYSE:RS) in a research report issued on Wednesday, MarketBeat reports. The firm set a “neutral” rating and a $300.00 price target on the industrial products company’s stock. The Goldman Sachs Group’s target price suggests a potential downside of 1.78% from the company’s current price.

A number of other brokerages have also issued reports on RS. BMO Capital Markets lowered Reliance from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $340.00 to $320.00 in a research note on Friday, February 20th. Wells Fargo & Company upped their price objective on Reliance from $315.00 to $323.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Reliance in a research note on Monday, December 29th. Zacks Research raised Reliance from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. Finally, JPMorgan Chase & Co. cut shares of Reliance from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $340.00 to $330.00 in a research report on Friday, February 20th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $322.80.

Reliance Stock Down 0.6%

RS stock opened at $305.43 on Wednesday. The firm’s 50-day moving average is $319.15 and its two-hundred day moving average is $297.89. The company has a market capitalization of $15.80 billion, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 1.16 and a beta of 0.88. Reliance has a 52 week low of $250.07 and a 52 week high of $365.59. The company has a current ratio of 4.88, a quick ratio of 2.30 and a debt-to-equity ratio of 0.20.

Reliance (NYSE:RS) last posted its quarterly earnings data on Wednesday, February 18th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.80 by ($0.40). Reliance had a net margin of 5.17% and a return on equity of 10.45%. The company had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter last year, the business earned $2.22 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. Reliance has set its Q1 2026 guidance at 4.500-4.70 EPS. On average, analysts forecast that Reliance will post 16.98 earnings per share for the current fiscal year.

Insider Activity at Reliance

In other news, SVP William A. Smith II sold 6,615 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $298.61, for a total value of $1,975,305.15. Following the completion of the sale, the senior vice president owned 21,747 shares in the company, valued at $6,493,871.67. This represents a 23.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Stephen Paul Koch sold 24,060 shares of the firm’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $321.62, for a total value of $7,738,177.20. Following the completion of the sale, the chief operating officer directly owned 14,021 shares of the company’s stock, valued at approximately $4,509,434.02. This trade represents a 63.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Reliance

Several hedge funds have recently bought and sold shares of RS. Elevation Wealth Partners LLC acquired a new position in shares of Reliance in the 4th quarter valued at about $28,000. Brown Brothers Harriman & Co. lifted its position in shares of Reliance by 86.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 50 shares in the last quarter. Greenline Wealth Management LLC acquired a new stake in shares of Reliance during the fourth quarter worth approximately $32,000. Quarry LP acquired a new stake in shares of Reliance during the third quarter worth approximately $32,000. Finally, Parkside Financial Bank & Trust grew its position in Reliance by 87.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 55 shares in the last quarter. 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.