Brokerages Set Reliance, Inc. (NYSE:RS) PT at $317.25

Shares of Reliance, Inc. (NYSE:RS) have earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $317.25.

Several equities analysts have weighed in on the company. KeyCorp reissued an “overweight” rating on shares of Reliance in a research note on Wednesday, January 7th. Zacks Research upgraded shares of Reliance from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. Wells Fargo & Company lifted their price objective on shares of Reliance from $284.00 to $287.00 and gave the stock an “equal weight” rating in a research note on Friday, November 14th. BMO Capital Markets lowered their target price on shares of Reliance from $340.00 to $315.00 and set an “outperform” rating for the company in a research note on Friday, October 24th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Reliance in a report on Monday, December 29th.

Insider Activity

In other Reliance news, COO Stephen Paul Koch sold 3,066 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $283.56, for a total value of $869,394.96. Following the completion of the transaction, the chief operating officer directly owned 14,021 shares of the company’s stock, valued at approximately $3,975,794.76. The trade was a 17.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Karla R. Lewis sold 5,809 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $283.50, for a total value of $1,646,851.50. Following the completion of the sale, the chief executive officer owned 84,421 shares of the company’s stock, valued at $23,933,353.50. This trade represents a 6.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Reliance

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. IFP Advisors Inc boosted its position in Reliance by 10.7% during the 2nd quarter. IFP Advisors Inc now owns 340 shares of the industrial products company’s stock worth $112,000 after acquiring an additional 33 shares during the last quarter. Masso Torrence Wealth Management Inc. lifted its position in shares of Reliance by 3.3% in the third quarter. Masso Torrence Wealth Management Inc. now owns 1,148 shares of the industrial products company’s stock worth $322,000 after purchasing an additional 37 shares in the last quarter. Kathmere Capital Management LLC boosted its holdings in Reliance by 4.9% during the fourth quarter. Kathmere Capital Management LLC now owns 786 shares of the industrial products company’s stock worth $227,000 after purchasing an additional 37 shares during the last quarter. Farther Finance Advisors LLC grew its position in Reliance by 13.2% in the third quarter. Farther Finance Advisors LLC now owns 325 shares of the industrial products company’s stock valued at $91,000 after purchasing an additional 38 shares in the last quarter. Finally, Choreo LLC grew its position in Reliance by 2.9% in the third quarter. Choreo LLC now owns 1,366 shares of the industrial products company’s stock valued at $383,000 after purchasing an additional 39 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Reliance Stock Performance

RS stock opened at $353.72 on Wednesday. Reliance has a twelve month low of $250.07 and a twelve month high of $354.74. The company has a quick ratio of 2.08, a current ratio of 4.43 and a debt-to-equity ratio of 0.19. The company has a market cap of $18.50 billion, a P/E ratio of 25.86, a price-to-earnings-growth ratio of 2.10 and a beta of 0.92. The business’s fifty day moving average is $309.31 and its 200-day moving average is $292.34.

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.