Russel Metals (TSE:RUS) Stock Gets Price Target Increase from Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised Russel Metals’ price target to C$107 from C$92, implying 18.82% upside from the previous close.
• Analyst sentiment is broadly positive: five analysts rate the stock a Buy and three rate it Hold, producing a “Moderate Buy” consensus, although the average target of C$78.56 is below the current price.
• Russel Metals shares rose 3.6% to C$90.05, near their 12-month high of C$90.58; 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 lifted by equities researchers at Royal Bank Of Canada from C$92.00 to C$107.00 in a report released on Wednesday, BayStreet reports. Royal Bank Of Canada's price objective suggests a potential upside of 18.82% from the stock's previous close.

A number of other analysts also recently issued reports on RUS. Scotiabank raised their price objective on shares of Russel Metals from C$76.00 to C$89.00 and gave the stock a "sector outperform" rating in a report on Tuesday, August 11th. TD set a C$94.00 target price on shares of Russel Metals and gave the company a "buy" rating in a research note on Monday, September 21st. Stifel Nicolaus raised their price target 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, August 10th. Raymond James Financial cut shares of Russel Metals from a "moderate buy" rating to a "hold" rating and lifted their price target for the stock from C$70.00 to C$82.00 in a report on Monday, August 10th. Finally, National Bank Financial upped their price objective on Russel Metals from C$57.00 to C$75.00 and gave the company a "sector perform" rating in a research note on Monday, August 10th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of C$78.56.

Russel Metals Stock Up 3.6%

Shares of RUS traded up C$3.12 during trading hours on Wednesday, reaching C$90.05. The stock had a trading volume of 74,527 shares, compared to its average volume of 223,573. The firm has a 50-day simple moving average of C$75.71 and a 200 day simple moving average of C$63.38. Russel Metals has a 12 month low of C$39.09 and a 12 month high of C$90.58. The company has a current ratio of 2.61, a quick ratio of 1.44 and a debt-to-equity ratio of 27.88. The company has a market capitalization of C$4.94 billion, a price-to-earnings ratio of 22.97, a P/E/G ratio of 0.59 and a beta of 1.28.

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

Insider Activity at Russel Metals

In related news, insider Martin Leb Juravsky sold 5,682 shares of Russel Metals stock in a transaction on Friday, August 14th. The shares were sold at an average price of C$80.40, for a total value of C$456,832.80. Following the transaction, the insider owned 6,674 shares in the company, valued at C$536,589.60. This trade represents a 45.99% decrease in their position. Also, Director Brian Robie Hedges sold 25,000 shares of the business's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of C$81.54, for a total transaction of C$2,038,500.00. In the last three months, insiders have sold 33,682 shares of company stock valued at $2,735,333. Corporate 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.

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