Russel Metals (TSE:RUS) Given New C$92.00 Price Target at Raymond James Financial

Key Points

• Raymond James raised Russel Metals’ price target to C$92 from C$82 while maintaining a “market perform” rating, implying only 1.15% upside from the prior close.
• Analyst sentiment is generally positive: the stock has an average “Moderate Buy” rating and a consensus price target of C$85.22, with targets ranging from C$94 to C$113 among other firms.
• Russel Metals shares slipped 0.3% to C$90.95, while insiders have sold 33,682 shares worth approximately C$2.74 million over the past three months.

Russel Metals (TSE:RUS - Get Free Report) had its price target boosted by analysts at Raymond James Financial from C$82.00 to C$92.00 in a research note issued to investors on Wednesday, BayStreet reports. The firm presently has a "market perform" rating on the stock. Raymond James Financial's target price would indicate a potential upside of 1.15% from the company's previous close.

RUS has been the topic of several other research reports. TD set a C$94.00 price target on shares of Russel Metals and gave the stock a "buy" rating in a research note on Monday, September 21st. Royal Bank Of Canada boosted their price objective on shares of Russel Metals from C$92.00 to C$107.00 in a report on Wednesday, September 30th. National Bank Financial upped their price objective on shares of Russel Metals from C$75.00 to C$101.00 and gave the company a "sector perform" rating in a research report on Thursday, October 15th. Scotiabank set a C$113.00 price objective on shares of Russel Metals and gave the company a "sector outperform" rating in a research report on Thursday, October 15th. Finally, Stifel Nicolaus raised their target price on Russel Metals from C$64.00 to C$85.00 and gave the company a "hold" rating in a research note on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Russel Metals presently has an average rating of "Moderate Buy" and a consensus price target of C$85.22.

Russel Metals Stock Down 0.3%

Shares of RUS traded down C$0.27 during mid-day trading on Wednesday, reaching C$90.95. 134,317 shares of the stock traded hands, compared to its average volume of 222,223. The firm has a market cap of C$4.99 billion, a price-to-earnings ratio of 23.20, a P/E/G ratio of 0.59 and a beta of 0.95. The stock has a fifty day simple moving average of C$81.70 and a 200 day simple moving average of C$68.02. Russel Metals has a 12-month low of C$39.09 and a 12-month high of C$95.97. The company has a quick ratio of 1.44, a current ratio of 2.61 and a debt-to-equity ratio of 27.88.

Russel Metals (TSE:RUS - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported C$1.63 EPS for the quarter. The business had revenue of C$1.66 billion for the quarter. Russel Metals had a net margin of 4.04% and a return on equity of 13.09%.

Insider Activity

In other news, insider Martin Leb Juravsky sold 5,682 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of C$80.40, for a total transaction of C$456,832.80. Following the completion of the sale, the insider owned 6,674 shares of the company's stock, valued at approximately C$536,589.60. This trade represents a 45.99% decrease in their ownership of the stock. Also, Director James Francis Dinning sold 3,000 shares of Russel Metals stock in a transaction on Thursday, August 13th. The stock was sold at an average price of C$80.00, for a total transaction of C$240,000.00. Following the completion of the sale, the director owned 16,250 shares of the company's stock, valued at approximately C$1,300,000. This trade represents a 15.58% decrease in their position. In the last three months, insiders sold 33,682 shares of company stock worth $2,735,333. 0.85% of the stock is currently owned by insiders.

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.

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