Russel Metals (TSE:RUS) Given New C$94.00 Price Target at TD

Key Points

• TD raised its price target for Russel Metals from C$68 to C$94 and maintained a “buy” rating, implying 15.25% upside from the prior close.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating from eight analysts and an average target price of C$76.89.
• Russel Metals shares rose 0.5% to C$81.56, near their 52-week high of C$83.12. The company recently reported quarterly EPS of C$1.63 on revenue of C$1.66 billion, while insiders have sold shares worth approximately C$3.6 million over the past 90 days.

Russel Metals (TSE:RUS - Get Free Report) had its price objective increased by TD from C$68.00 to C$94.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. TD's price target would suggest a potential upside of 15.25% from the stock's previous close.

Several other equities analysts have also issued reports on RUS. Stifel Nicolaus lifted their price target on Russel Metals from C$64.00 to C$85.00 and gave the stock a "hold" rating in a research report on Monday. Royal Bank Of Canada raised their price objective on shares of Russel Metals from C$68.00 to C$92.00 and gave the company an "outperform" rating in a research note on Monday. 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, May 6th. Raymond James Financial downgraded shares of Russel Metals from a "moderate buy" rating to a "hold" rating and upped their target price for the stock from C$70.00 to C$82.00 in a research note on Monday. Finally, Scotia increased their price target on shares of Russel Metals from C$54.00 to C$62.00 and gave the company a "sector outperform" rating in a report on Thursday, May 7th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$76.89.

Russel Metals Stock Up 0.5%

Shares of Russel Metals stock traded up C$0.42 during midday trading on Tuesday, hitting C$81.56. The company had a trading volume of 141,889 shares, compared to its average volume of 231,496. Russel Metals has a 52-week low of C$39.09 and a 52-week high of C$83.12. The company has a debt-to-equity ratio of 27.88, a quick ratio of 1.44 and a current ratio of 2.61. The stock has a market capitalization of C$4.48 billion, a P/E ratio of 22.91, a P/E/G ratio of 0.59 and a beta of 1.21. The company has a 50 day moving average of C$65.31 and a 200 day moving average of C$55.92.

Russel Metals (TSE:RUS - Get Free Report) last announced 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 13.09% and a net margin of 4.04%.The business had revenue of C$1.66 billion during the quarter.

Insider Transactions at Russel Metals

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

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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