Reliance

RS · NYSE

$417.27+$1.60 (+0.38%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $415.67

RS analyst rating

HoldConsensus of 8 analysts over the last 12 months. 38% rate it a buy.

Strong buy0
Buy3
Hold5
Underperform0
Sell0

12-month price target · 13 analysts

Average $417.53 (+0.1% upside)

Low: $394.91
Now: $417.27
High: $446.25

Upgrades and downgrades

The latest rating actions, newest first

RS analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Barclays	Oct 14, 2026	Initiates	Equal-Weight	$420.00	57%
JP Morgan	Oct 9, 2026	Maintains	Neutral	$390.00 → $400.00	58%
Keybanc	Oct 5, 2026	Maintains	Overweight	$418.00 → $421.00	65%
JP Morgan	Sep 9, 2026	Maintains	Neutral	$398.00 → $390.00	58%
Wells Fargo	Aug 24, 2026	Maintains	Equal-Weight	$398.00 → $391.00	55%
BMO Capital	Jul 27, 2026	Maintains	Market Perform	$390.00 → $415.00	69%
Wells Fargo	Jul 23, 2026	Maintains	Equal-Weight	$372.00 → $398.00	55%
JP Morgan	Jul 15, 2026	Maintains	Neutral	$378.00 → $376.00	58%
Wells Fargo	Jul 9, 2026	Maintains	Equal-Weight	$376.00 → $372.00	55%
Keybanc	Jun 24, 2026	Maintains	Overweight	$378.00 → $418.00	88%

The case for and against

Updated Aug 14, 2024

Bull case

The financial outlook for Reliance Inc is strengthened by an upward revision in its price target, reflecting increased EBITDA expectations and higher target multiples, indicating that the company is beginning to align more closely with industry averages. Anticipated growth is bolstered by a substantial capital expenditure plan of nearly $1 billion from 2022 to 2025, expected to yield significant returns, and a robust dividend policy that includes a nearly 15% increase in February 2023, demonstrating a commitment to shareholder value. Additionally, Reliance's strong free cash flow generation, under-leveraged balance sheet, and potential for mergers and acquisitions position the company favorably against future market dynamics.

Bear case

The financial analysis indicates that Reliance Inc. is facing a decline in LIFO income expectations, dropping from $160 million to an estimated $140 million for 2023, while the company's guidance aligns at $140 million. Additionally, a forecasted LIFO income of only $80 million for FY24 reflects a concerning trend with average metal procurement prices decreasing by over 4%. Key risks include potential weaker demand and pricing pressures, particularly influenced by external factors such as COVID-19, which may adversely affect overall market demand.

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