Raymond James Financial Downgrades Russel Metals (TSE:RUS) to Market Perform

Key Points

• Raymond James downgraded Russel Metals from “outperform” to “market perform,” while raising its price target to C$82 from C$70—implying only about 0.4% upside from the current price.
• Analyst sentiment remains broadly positive, with five Buy ratings and three Holds; the stock has an average rating of “Moderate Buy” and a consensus price target of C$70.11.
• Russel Metals shares rose 0.9% to C$81.67, near their 52-week high of C$81.72. The company recently reported quarterly EPS of C$1.63 on revenue of C$1.66 billion, while insiders have sold roughly 58,935 shares over the past 90 days.

Russel Metals (TSE:RUS - Get Free Report) was downgraded by analysts at Raymond James Financial from an "outperform" rating to a "market perform" rating in a note issued to investors on Monday,BayStreet.CA reports. They presently have a C$82.00 price objective on the stock, up from their previous price objective of C$70.00. Raymond James Financial's target price would suggest a potential upside of 0.40% from the stock's current price.

A number of other analysts also recently weighed in on RUS. Scotia upped their target price on shares of Russel Metals from C$54.00 to C$62.00 and gave the stock a "sector outperform" rating in a research report on Thursday, May 7th. National Bank Financial lifted their price target on shares of Russel Metals from C$52.00 to C$57.00 and gave the company a "sector perform" rating in a research report on Monday, July 13th. Royal Bank Of Canada boosted their price objective on shares of 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 raised their target price on shares of Russel Metals from C$64.00 to C$85.00 and gave the company a "hold" rating in a research note on Monday. Finally, TD raised their target price on shares of Russel Metals from C$63.00 to C$68.00 and gave the company a "buy" rating in a research note on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Russel Metals currently has an average rating of "Moderate Buy" and an average price target of C$70.11.

Russel Metals Stock Up 0.9%

Shares of TSE RUS traded up C$0.71 during mid-day trading on Monday, hitting C$81.67. 197,415 shares of the stock traded hands, compared to its average volume of 231,029. The company has a debt-to-equity ratio of 29.50, a quick ratio of 1.44 and a current ratio of 2.86. Russel Metals has a 52 week low of C$39.09 and a 52 week high of C$81.72. The company has a market cap of C$4.48 billion, a price-to-earnings ratio of 22.94, a PEG ratio of 0.59 and a beta of 1.21. The stock has a fifty 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 posted its quarterly earnings data on Thursday, August 6th. The company reported C$1.63 earnings per share (EPS) for the quarter. The business had revenue of C$1.66 billion during the quarter. Russel Metals had a return on equity of 12.22% and a net margin of 4.04%.

Insider Buying and Selling

In related news, insider Martin Leb Juravsky sold 5,000 shares of the company's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of C$63.28, for a total value of C$316,400.00. Following the transaction, the insider owned 12,356 shares in the company, valued at C$781,887.68. The trade was a 28.81% decrease in their position. Also, Director Brian Robie Hedges sold 10,000 shares of the company's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of C$63.25, for a total transaction of C$632,500.00. Insiders sold 58,935 shares of company stock worth $3,575,645 in the last 90 days. 0.85% of the stock is owned by company 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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