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

Key Points

• National Bankshares raised its price target for Russel Metals (TSE:RUS) from C$55.00 to C$56.00, suggesting a potential upside of 35.20% from the stock's previous close.
• Despite mixed ratings from other firms, Russel Metals holds an average rating of "Buy" from five investment analysts, with a consensus price target of C$51.80.
• As of Thursday, Russel Metals' stock traded down 1.4% to C$41.42 with a market capitalization of C$2.32 billion.

Russel Metals (TSE:RUS - Get Free Report) had its price objective upped by investment analysts at National Bankshares from C$55.00 to C$56.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. National Bankshares' price target would indicate a potential upside of 35.20% from the company's previous close.

A number of other research firms have also commented on RUS. TD Securities reduced their price objective on shares of Russel Metals from C$52.00 to C$50.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Stifel Nicolaus reduced their price objective on shares of Russel Metals from C$49.00 to C$48.00 and set a "buy" rating on the stock in a research note on Friday, September 19th. Finally, Raymond James Financial reduced their price objective on shares of Russel Metals from C$56.00 to C$54.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 1st. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of C$51.80.

Russel Metals Trading Down 1.4%

TSE RUS traded down C$0.59 on Thursday, hitting C$41.42. The company's stock had a trading volume of 56,948 shares, compared to its average volume of 157,657. The company has a quick ratio of 1.44, a current ratio of 3.37 and a debt-to-equity ratio of 20.28. Russel Metals has a 1-year low of C$34.62 and a 1-year high of C$46.87. The company's 50-day moving average is C$41.49 and its 200 day moving average is C$41.52. The firm has a market cap of C$2.32 billion, a PE ratio of 14.33, a PEG ratio of 0.59 and a beta of 1.10.

About Russel Metals

Russel Metals Inc is a Canada-based metal distribution company. The company conducts business primarily through three metals distribution segments: metals service centers; energy products; and steel distributors. The metal service centers provide processing and distribution services to a broad base of end-users.

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