Russel Metals (TSE:RUS) Given New C$63.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised its price target on Russel Metals from C$55.00 to C$63.00 and kept an "outperform" rating, implying roughly an 11.7% upside from the current share price.
• Other analysts have also lifted targets (TD to C$63, BMO to C$56, etc.), leaving a consensus rating of Moderate Buy with a consensus target of C$58.94 (seven Buys, one Hold).
• Russel Metals shares traded at C$56.42 (down 0.7%) with a market cap of C$3.10B and a P/E of 18.74; the company reported quarterly EPS of C$1.30 on C$1.42B of revenue.

Russel Metals (TSE:RUS - Get Free Report) had its price objective hoisted by equities researchers at Royal Bank Of Canada from C$55.00 to C$63.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's price target points to a potential upside of 11.66% from the company's current price.

A number of other research firms have also recently commented on RUS. TD upped their target price on shares of Russel Metals from C$57.00 to C$63.00 and gave the company a "buy" rating in a research report on Tuesday. Stifel Nicolaus upped their price objective on shares of Russel Metals from C$49.00 to C$50.50 and gave the stock a "hold" rating in a report on Friday, February 13th. BMO Capital Markets lifted their target price on shares of Russel Metals from C$51.00 to C$56.00 in a report on Wednesday. TD Securities raised their price target on Russel Metals from C$50.00 to C$57.00 and gave the stock a "buy" rating in a research report on Friday, February 13th. Finally, National Bank Financial dropped their price objective on Russel Metals from C$56.00 to C$51.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 8th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Russel Metals currently has a consensus rating of "Moderate Buy" and a consensus target price of C$58.94.

Russel Metals Trading Down 0.7%

Shares of Russel Metals stock traded down C$0.41 during mid-day trading on Thursday, hitting C$56.42. The stock had a trading volume of 170,958 shares, compared to its average volume of 209,589. The firm has a 50-day moving average of C$48.97 and a two-hundred day moving average of C$45.86. The firm has a market cap of C$3.10 billion, a P/E ratio of 18.74, a price-to-earnings-growth ratio of 0.59 and a beta of 0.95. The company has a quick ratio of 1.44, a current ratio of 3.06 and a debt-to-equity ratio of 30.44. Russel Metals has a 12-month low of C$39.09 and a 12-month high of C$58.69.

Russel Metals (TSE:RUS - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported C$1.30 EPS for the quarter. The firm had revenue of C$1.42 billion for the quarter. Russel Metals had a return on equity of 10.44% and a net margin of 3.64%.

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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