National Bank Financial Forecasts Strong Price Appreciation for Russel Metals (TSE:RUS) Stock

Key Points

• National Bank Financial raised its Russel Metals price target from C$57 to C$75 while maintaining a “sector perform” rating. Analysts collectively rate the stock “Moderate Buy,” with a consensus target of C$70.11.
• Russel Metals shares traded near a 12-month high at C$81.67, up from a 12-month low of C$39.09. The company reported quarterly EPS of C$1.63 on revenue of C$1.66 billion.
• Insiders have been net sellers: company insiders sold 58,935 shares worth approximately C$3.58 million over the past 90 days, reducing their holdings while insiders retain 0.85% ownership.

Russel Metals (TSE:RUS - Get Free Report) had its price target increased by research analysts at National Bank Financial from C$57.00 to C$75.00 in a research report issued on Monday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. National Bank Financial's price target points to a potential downside of 8.17% from the company's current price.

Several other research analysts have also weighed in on RUS. BMO Capital Markets upped their target price on shares of Russel Metals from C$51.00 to C$56.00 in a research report on Wednesday, May 6th. TD lifted their price target on shares of Russel Metals from C$63.00 to C$68.00 and gave the company a "buy" rating in a research report on Monday, May 11th. Royal Bank Of Canada boosted their price target on Russel Metals from C$63.00 to C$68.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 30th. Stifel Nicolaus upped their price target on Russel Metals from C$64.00 to C$85.00 and gave the stock a "hold" rating in a report on Monday. Finally, Raymond James Financial downgraded Russel Metals from an "outperform" rating to a "market perform" rating and raised their price objective for the company from C$70.00 to C$82.00 in a research note on Monday. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Russel Metals presently has a consensus rating of "Moderate Buy" and a consensus price target of C$70.11.

Russel Metals Price Performance

Shares of Russel Metals stock traded up C$0.71 during trading on Monday, reaching C$81.67. The company's stock had a trading volume of 197,415 shares, compared to its average volume of 231,029. The company has a quick ratio of 1.44, a current ratio of 2.86 and a debt-to-equity ratio of 29.50. Russel Metals has a 12-month low of C$39.09 and a 12-month high of C$81.72. The company has a market capitalization of C$4.48 billion, a P/E ratio of 22.94, a price-to-earnings-growth ratio of 0.59 and a beta of 1.21. The business has a 50 day moving average price of C$64.91 and a 200-day moving average price of C$55.68.

Russel Metals (TSE:RUS - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported C$1.63 earnings per share (EPS) for the quarter. Russel Metals had a return on equity of 12.22% and a net margin of 4.04%.The firm had revenue of C$1.66 billion during the quarter.

Insider Buying and Selling

In other news, Director James Francis Dinning sold 2,500 shares of the company's stock in a transaction on Friday, May 29th. The stock was sold at an average price of C$62.10, for a total value of C$155,250.00. Following the sale, the director directly owned 19,250 shares in the company, valued at C$1,195,425. This represents a 11.49% decrease in their ownership of the stock. Also, insider John Gregory Reid sold 28,935 shares of the business's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of C$58.62, for a total transaction of C$1,696,169.70. Following the completion of the transaction, the insider directly owned 306,147 shares of the company's stock, valued at C$17,946,337.14. The trade was a 8.64% decrease in their position. In the last ninety days, insiders sold 58,935 shares of company stock valued at $3,575,645. 0.85% of the stock is owned by 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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