JPMorgan Chase & Co. Cuts Reliance (NYSE:RS) Price Target to $376.00

Reliance (NYSE:RS) had its price objective decreased by JPMorgan Chase & Co. from $378.00 to $376.00 in a research report sent to investors on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company’s stock.

Several other research analysts have also recently weighed in on RS. KeyCorp lifted their price target on shares of Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Weiss Ratings upgraded Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Seaport Research Partners raised their target price on Reliance from $340.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Wall Street Zen upgraded Reliance from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Finally, The Goldman Sachs Group assumed coverage on Reliance in a report on Wednesday, April 1st. They set a “neutral” rating and a $300.00 price target for the company. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Reliance has an average rating of “Hold” and a consensus target price of $363.50.

Reliance Price Performance

NYSE RS opened at $396.28 on Wednesday. The company has a 50-day moving average price of $384.40 and a 200-day moving average price of $343.98. Reliance has a 52 week low of $260.31 and a 52 week high of $419.83. The company has a quick ratio of 2.24, a current ratio of 4.39 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $20.23 billion, a P/E ratio of 25.85, a PEG ratio of 1.22 and a beta of 0.97.

Reliance (NYSE:RS) last posted its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.63 by $0.53. The company had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $3.89 billion. Reliance had a net margin of 5.42% and a return on equity of 11.37%. The firm’s revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.77 earnings per share. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. Equities research analysts anticipate that Reliance will post 19.24 earnings per share for the current year.

Insider Buying and Selling at Reliance

In other news, CFO Arthur Ajemyan sold 3,500 shares of the stock in a transaction on Monday, April 27th. The shares were sold at an average price of $358.12, for a total value of $1,253,420.00. Following the completion of the sale, the chief financial officer directly owned 16,840 shares of the company’s stock, valued at $6,030,740.80. This represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Elevation Wealth Partners LLC purchased a new stake in Reliance in the 4th quarter worth $28,000. Costello Asset Management INC purchased a new position in shares of Reliance in the first quarter valued at about $30,000. Brown Brothers Harriman & Co. boosted its stake 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 acquiring an additional 50 shares during the period. Greenline Wealth Management LLC bought a new position in shares of Reliance in the fourth quarter worth about $32,000. Finally, Quarry LP purchased a new stake in shares of Reliance during the third quarter worth about $32,000. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Key Stories Impacting Reliance

Here are the key news stories impacting Reliance this week:

• Positive Sentiment: Reliance Industries reported strong Q1 results, with revenue rising 24.5% to Rs 3.4 lakh crore and recurring profit up 6%, reinforcing optimism around the company’s operating momentum. Reliance Industries Q1 revenue jumps 24.5% to Rs 3.4 lakh crore, recurring PAT climbs 6%
• Positive Sentiment: Jio Platforms posted Q1 revenue of Rs 45,961 crore and a 9% rise in profit, while Jio’s ARPU increased to Rs 215.6, signaling healthy growth in Reliance’s telecom arm. Jio Platforms Q1 earnings: IPO-bound firm logs Rs 45,961 crore revenue, profit up 9%
• Positive Sentiment: Reliance Retail reported Q1 revenue growth of 7.4% to Rs 90,408 crore, adding another sign of steady demand across the consumer business. Reliance Retail’s Q1 FY27 revenue up 7.4% to Rs 90,408 crore
• Positive Sentiment: Reliance promoters increased their stake by about 0.5% with share purchases worth roughly Rs 8,500-9,000 crore, which can be read as a strong insider vote of confidence. Reliance promoters raise stake by 0.5 pc through Rs 8,500-9,000 cr worth of share purchases
• Neutral Sentiment: Shares had already been trending up ahead of the results on expectations of strong Q1 performance, suggesting much of the optimism was built into the stock before the announcement. Reliance Industries Q1 Results Live: Stock gains 1.86% ahead of Q1 results; O2C, Jio growth key to earnings
• Neutral Sentiment: Analysts also noted concerns that Reliance may be modestly overvalued and JPMorgan lowered its price target, which could temper enthusiasm even after the strong results. Reliance (RS) Could Be 5% Overvalued On Rising Earnings Expectations
• Negative Sentiment: JPMorgan Chase & Co. lowered its price target on Reliance (RS) to $376, a potential caution flag for U.S.-listed investors. Reliance (NYSE:RS) Price Target Lowered to $376.00 at JPMorgan Chase & Co.

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.