Reliance (NYSE:RS) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Reliance (NYSE:RS – Free Report) from a buy rating to a strong-buy rating in a research report released on Saturday morning,Wall Street Zen reports.

Several other equities analysts have also commented on RS. BMO Capital Markets upped their price target on shares of Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Barclays boosted their price objective on shares of Reliance from $420.00 to $445.00 and gave the company an “equal weight” rating in a research note on Monday, October 26th. Weiss Ratings downgraded Reliance from a “buy (b)” rating to a “hold (c)” rating in a report on Wednesday, October 28th. Zacks Research raised Reliance from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Finally, Wells Fargo & Company lifted their target price on Reliance from $391.00 to $420.00 and gave the company an “equal weight” rating in a report on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $400.29.

Check Out Our Latest Research Report on RS

Reliance Stock Up 2.5%

Shares of NYSE:RS opened at $448.03 on Friday. The stock’s 50-day moving average price is $401.55 and its two-hundred day moving average price is $368.90. The company has a current ratio of 4.12, a quick ratio of 2.22 and a debt-to-equity ratio of 0.21. Reliance has a 12-month low of $263.12 and a 12-month high of $454.93. The firm has a market cap of $22.82 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 0.94 and a beta of 0.95.

Reliance (NYSE:RS – Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The industrial products company reported $8.02 EPS for the quarter, beating analysts’ consensus estimates of $6.83 by $1.19. The company had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $4.74 billion. Reliance had a net margin of 6.38% and a return on equity of 15.31%. The company’s quarterly revenue was up 42.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.64 EPS. On average, research analysts forecast that Reliance will post 24.99 EPS for the current year.

Reliance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 20th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, November 20th. Reliance’s dividend payout ratio is 23.31%.

Insider Transactions at Reliance

In related news, COO Stephen Koch sold 8,334 shares of the stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $430.87, for a total value of $3,590,870.58. Following the completion of the sale, the chief operating officer directly owned 8,209 shares in the company, valued at approximately $3,537,011.83. This represents a 50.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. PensionDanmark Pensionsforsikringsaktieselskab raised its holdings in Reliance by 542.5% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 9,766 shares of the industrial products company’s stock valued at $3,649,000 after acquiring an additional 8,246 shares in the last quarter. Cornerstone Capital Inc. acquired a new position in Reliance during the 2nd quarter worth $23,725,000. The Manufacturers Life Insurance Company acquired a new position in Reliance during the 2nd quarter worth $8,808,000. Bank of America Corp DE grew its holdings in Reliance by 4.9% during the 1st quarter. Bank of America Corp DE now owns 263,191 shares of the industrial products company’s stock worth $79,989,000 after acquiring an additional 12,282 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Reliance by 189.2% in the 2nd quarter. NewEdge Advisors LLC now owns 6,423 shares of the industrial products company’s stock worth $2,399,000 after purchasing an additional 4,202 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Reliance News Summary

Here are the key news stories impacting Reliance this week:

  • Positive Sentiment: Reliance Industries shares rallied sharply after reporting record quarterly revenue and profit. Reports cited a roughly 41% increase in net profit and approximately 11% growth in Jio revenue, prompting a significant increase in the company’s market capitalization. Reliance Industries Q2 key highlights
  • Positive Sentiment: Jefferies reportedly recommended a “Buy” rating following the results, while market commentary suggested Reliance Industries shares could reach ₹1,575 within three to four months. These targets reflect optimism about the Indian company’s earnings momentum, not a valuation target for RS. Reliance Industries rally and Jefferies recommendation Reliance Industries price target
  • Neutral Sentiment: Multiple reports described the move as Reliance Industries’ strongest single-day gain since April 2020, with the market value increasing by roughly ₹1 lakh crore to ₹1.8 lakh crore. The repeated coverage reinforces positive sentiment toward RIL but provides no new operating information about RS. Reliance Industries single-day gain
  • Neutral Sentiment: Separate earnings summaries highlighted Reliance Industries’ highest-ever quarterly revenue and profit, along with investor reactions to earnings and a dividend. These developments are relevant to RIL shareholders, but they should not be used as a direct explanation for movements in Reliance, Inc. (RS). Reliance Industries quarterly earnings highlights

About Reliance

(Get Free Report)

Reliance, Inc (NYSE: RS) is a diversified metals service center company that supplies processed metal products and related services to industrial manufacturers, fabricators, and other commercial customers. Its product offerings include carbon steel, stainless steel, aluminum, copper, brass, and other specialty metals.

The company provides value-added processing services such as cutting, slitting, leveling, blanking, machining, forming, and precision sawing. These services allow customers to purchase metals in customized sizes and specifications, helping reduce their need for in-house processing and inventory management.

Founded in 1939, Reliance serves a broad range of industries, including nonresidential construction, transportation, aerospace and defense, energy, electronics, machinery, and general manufacturing.

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