Russel Metals (TSE:RUS) Given New C$57.00 Price Target at National Bank Financial

Key Points

• National Bank Financial raised its price target on Russel Metals from C$52.00 to C$57.00, while keeping a sector perform rating. That target still implies downside from the previous close.
• Other analysts have also turned more positive, with several firms lifting targets and ratings; the stock now has a Moderate Buy consensus and an average target price of C$61.17.
• Russel Metals shares recently traded near their 52-week high at C$65.42, and the company reported quarterly EPS of C$1.30 on revenue of C$1.42 billion.

Russel Metals (TSE:RUS - Get Free Report) had its price target boosted by analysts at National Bank Financial from C$52.00 to C$57.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. National Bank Financial's price objective points to a potential downside of 12.87% from the company's previous close.

A number of other equities research analysts also recently weighed in on the stock. Royal Bank Of Canada raised their price target on shares of Russel Metals from C$63.00 to C$68.00 and gave the company an "outperform" rating in a research note on Tuesday, June 30th. Stifel Nicolaus upped their price objective on shares of Russel Metals from C$49.00 to C$58.50 and gave the stock a "hold" rating in a research report on Thursday, May 7th. TD increased their price objective 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. Scotia raised their target price on shares of Russel Metals from C$54.00 to C$62.00 and gave the company a "sector outperform" rating in a research report on Thursday, May 7th. Finally, Raymond James Financial boosted their target price on shares of Russel Metals from C$65.00 to C$70.00 in a research note on Friday, June 5th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Russel Metals currently has an average rating of "Moderate Buy" and a consensus target price of C$61.17.

Russel Metals Price Performance

Shares of RUS stock traded up C$0.99 on Monday, hitting C$65.42. 69,801 shares of the company's stock were exchanged, compared to its average volume of 228,920. The company has a debt-to-equity ratio of 29.50, a current ratio of 2.86 and a quick ratio of 1.44. Russel Metals has a 12 month low of C$39.09 and a 12 month high of C$65.47. The stock has a market cap of C$3.59 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 0.59 and a beta of 1.21. The company has a 50 day moving average of C$60.53 and a 200 day moving average of C$52.31.

Russel Metals (TSE:RUS - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported C$1.30 earnings per share for the quarter. The business had revenue of C$1.42 billion for the quarter. Russel Metals had a return on equity of 12.22% and a net margin of 4.04%.

Insider Buying and Selling at Russel Metals

In related news, insider Martin Leb Juravsky sold 5,000 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the insider owned 12,356 shares in the company, valued at C$781,887.68. This trade represents a 28.81% decrease in their position. Also, Director James Francis Dinning sold 2,500 shares of Russel Metals stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of C$62.10, for a total transaction of C$155,250.00. Following the sale, the director owned 19,250 shares in the company, valued at approximately C$1,195,425. This represents a 11.49% decrease in their ownership of the stock. Insiders have sold 73,935 shares of company stock worth $4,430,667 in the last 90 days. Corporate insiders own 0.85% of the company's stock.

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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