TD Reiterates C$94.00 Price Target for Russel Metals (TSE:RUS)

Key Points

• TD reiterated a C$94.00 price target and “buy” rating for Russel Metals, implying 17.46% upside from the prior close.
• Analyst sentiment is broadly positive: five analysts rate the stock a Buy and three rate it a Hold, producing a “Moderate Buy” consensus and an average target of C$76.89.
• Russel Metals reported quarterly EPS of C$1.63 on C$1.66 billion in revenue; the stock was trading near its 52-week high at C$80.03, while recent insider activity included both a significant sale and a smaller director purchase.

Russel Metals (TSE:RUS - Get Free Report) received a C$94.00 price target from equities researchers at TD in a note issued to investors on Monday, BayStreet reports. The brokerage currently has a "buy" rating on the stock. TD's price target would suggest a potential upside of 17.46% from the stock's previous close.

A number of other research firms also recently commented on RUS. Stifel Nicolaus lifted their price target 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 downgraded Russel Metals from a "moderate buy" rating to a "hold" rating and increased their target price for the stock from C$70.00 to C$82.00 in a report on Monday, August 10th. Scotiabank lifted their target price on Russel Metals from C$76.00 to C$89.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, August 11th. Royal Bank Of Canada boosted their price target on Russel Metals from C$68.00 to C$92.00 and gave the company an "outperform" rating in a report on Monday, August 10th. Finally, National Bank Financial upped their price target on Russel Metals from C$57.00 to C$75.00 and gave the company a "sector perform" rating in a research report on Monday, August 10th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of C$76.89.

Russel Metals Stock Down 0.0%

RUS traded down C$0.02 during trading on Monday, hitting C$80.03. The company had a trading volume of 26,726 shares, compared to its average volume of 225,556. Russel Metals has a 1-year low of C$39.09 and a 1-year high of C$83.12. The company has a debt-to-equity ratio of 27.88, a current ratio of 2.61 and a quick ratio of 1.44. The company has a market cap of C$4.39 billion, a PE ratio of 20.42, a P/E/G ratio of 0.59 and a beta of 1.28. The business has a 50-day moving average of C$73.49 and a 200-day moving average of C$61.58.

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

Insider Activity at Russel Metals

In other Russel Metals news, insider Martin Leb Juravsky sold 5,682 shares of Russel Metals stock in a transaction on Friday, August 14th. The stock was sold at an average price of C$80.40, for a total transaction of C$456,832.80. Following the sale, the insider owned 6,674 shares of the company's stock, valued at C$536,589.60. The trade was a 45.99% decrease in their position. Also, Director Brian Robie Hedges purchased 1,000 shares of the firm's stock in a transaction dated Thursday, August 13th. The stock was acquired at an average cost of C$80.48 per share, with a total value of C$80,480.00. Following the purchase, the director owned 1,000 shares of the company's stock, valued at approximately C$80,480. This represents a ∞ increase in their position. Insiders have sold a total of 33,682 shares of company stock worth $2,735,333 in the last three months. 0.85% of the stock is owned by company insiders.

About Russel Metals

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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