Russel Metals (TSE:RUS) Stock Price Target Cut by Scotiabank

Key Points

• Scotiabank cut its Russel Metals price target from C$113 to C$109, while maintaining a “sector outperform” rating; the new target implies about 40% upside from the price cited in the report.
• Analyst sentiment remains positive overall: MarketBeat reported a “Moderate Buy” consensus from five Buy and three Hold ratings, with an average target of C$84.78.
• Russel Metals reported quarterly EPS of C$2.67 and revenue of C$1.82 billion. Its shares rose 2% on Monday to C$77.68.

Russel Metals (TSE:RUS - Get Free Report) had its price target cut by Scotiabank from C$113.00 to C$109.00 in a research note issued on Monday, BayStreet reports. The brokerage presently has a "sector outperform" rating on the stock. Scotiabank's target price would suggest a potential upside of 40.32% from the company's current price.

Several other research firms also recently weighed in on RUS. Royal Bank Of Canada lifted their price target on shares of Russel Metals from C$92.00 to C$107.00 in a research note on Wednesday, September 30th. Stifel Nicolaus increased their price objective on 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 raised their price objective on Russel Metals from C$82.00 to C$92.00 and gave the stock a "market perform" rating in a report on Wednesday, October 21st. TD set a C$94.00 target price on Russel Metals and gave the company a "buy" rating in a research report on Monday, September 21st. Finally, National Bank Financial lifted their target price on 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. 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, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$84.78.

Russel Metals Trading Up 2.0%

Shares of RUS traded up C$1.51 during trading hours on Monday, reaching C$77.68. 187,688 shares of the company traded hands, compared to its average volume of 227,866. The firm has a market cap of C$4.27 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 0.59 and a beta of 0.74. Russel Metals has a 12-month low of C$39.09 and a 12-month high of C$95.97. The company has a current ratio of 2.75, a quick ratio of 1.44 and a debt-to-equity ratio of 25.75. The stock's fifty day moving average price is C$84.50 and its 200 day moving average price is C$64.42.

Russel Metals (TSE:RUS - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The company reported C$2.67 EPS for the quarter. Russel Metals had a net margin of 5.12% and a return on equity of 18.02%. The company had revenue of C$1.82 billion for the quarter.

Insider Buying and Selling

In other news, insider Martin Leb Juravsky sold 5,682 shares of the firm's stock in a transaction dated 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 sale, the insider directly owned 6,674 shares in the company, valued at approximately C$536,589.60. This trade represents a 45.99% decrease in their position. Also, Director Brian Robie Hedges acquired 1,000 shares of the business's stock in a transaction dated Thursday, August 13th. The stock was purchased at an average cost of C$80.48 per share, for a total transaction of C$80,480.00. Following the transaction, the director owned 1,000 shares in the company, valued at approximately C$80,480. The trade was a ∞ increase in their ownership of the stock. Insiders sold 33,682 shares of company stock worth $2,735,333 in the last three months. 0.85% of the stock is 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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