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StocksUpdated•Originally published 27 April 2026•Updated 28 April 2026•

1 min read

Seaport Global Raises Reliance Steel Price Target to $390 Following Strong Results

Key Facts

1KeyBanc increased its price target for Reliance Steel to $378 from $341, maintaining an Overweight rating.

2The adjustment followed strong Q1 2026 results driven by improved gross margins and new contracts.

Seaport Global has raised its price target for Reliance Steel & Aluminum to $390, surpassing KeyBanc's previous target of $378, while maintaining a positive outlook on the stock. The revision follows a stellar earnings report where the company posted an EPS of $5.16, significantly beating the consensus estimate of $4.63. Revenue for the period reached $4.03 billion, representing a robust 15.5% year-over-year increase. This growth was further supported by a 12.6% rise in the average selling price per ton, which bolstered overall margins. Analysts highlighted that strong free cash flow and diversified macroeconomic exposure continue to solidify the company's position as a core industrial holding. This updated valuation reflects growing market confidence in Reliance Steel's ability to sustain its growth momentum and operational efficiency.

about 1 month ago

Version History

Version 1about 1 month ago

What changed: Updated the headline to reflect the new higher price target from Seaport Global and incorporated specific financial metrics including EPS beat, revenue growth, and average selling price increases.