Russel Metals (TSE:RUS) Price Target Raised to C$94.00

Russel Metals (TSE:RUS) had its target price hoisted by equities researchers at TD from C$68.00 to C$94.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD’s target price points to a potential upside of 15.25% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Stifel Nicolaus increased their price objective on shares of Russel Metals from C$64.00 to C$85.00 and gave the stock a “hold” rating in a research note on Monday. Scotia lifted their target price on shares of Russel Metals from C$54.00 to C$62.00 and gave the company a “sector outperform” rating in a research note on Thursday, May 7th. Royal Bank Of Canada upped their target price on shares of Russel Metals from C$68.00 to C$92.00 and gave the stock an “outperform” rating in a report on Monday. Raymond James Financial lowered Russel Metals from a “moderate buy” rating to a “hold” rating and increased their price target for the stock from C$70.00 to C$82.00 in a research note on Monday. Finally, National Bank Financial raised their price target on Russel Metals from C$57.00 to C$75.00 and gave the company a “sector perform” rating in a report on Monday. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$76.89.

Russel Metals Stock Performance

TSE:RUS traded up C$0.42 during mid-day trading on Tuesday, hitting C$81.56. 141,889 shares of the company traded hands, compared to its average volume of 231,496. The company has a quick ratio of 1.44, a current ratio of 2.61 and a debt-to-equity ratio of 27.88. The stock’s fifty day moving average price is C$65.31 and its 200-day moving average price is C$55.92. The firm has a market cap of C$4.48 billion, a price-to-earnings ratio of 22.91, a price-to-earnings-growth ratio of 0.59 and a beta of 1.21. Russel Metals has a one year low of C$39.09 and a one year high of C$83.12.

Russel Metals (TSE:RUS) last posted its quarterly earnings data on Thursday, August 6th. The company reported C$1.63 earnings per share for the quarter. The firm had revenue of C$1.66 billion for the quarter. Russel Metals had a return on equity of 13.09% and a net margin of 4.04%.

Insider Buying and Selling

In other news, Director James Francis Dinning sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of C$62.10, for a total transaction of C$155,250.00. Following the transaction, the director owned 19,250 shares of the company’s stock, valued at approximately C$1,195,425. The trade was a 11.49% decrease in their position. Also, Director Brian Robie Hedges sold 10,000 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of C$63.25, for a total value of C$632,500.00. Insiders have sold a total of 58,935 shares of company stock worth $3,575,645 in the last 90 days. Company insiders own 0.85% of the company’s stock.

Russel Metals Company Profile

Russel Metals is one of the largest metals distribution companies in North America with a growing focus on value-added processing. It carries on business in three segments: metals service centers, energy field stores and steel distributors. Its network of metals service centers carries an extensive line of metal products in a wide range of sizes, shapes and specifications, including carbon hot rolled and cold finished steel, pipe and tubular products, stainless steel, aluminum and other non-ferrous specialty metals.