Russel Metals (TSE:RUS) Price Target Raised to C$56.00

Key Points

• BMO Capital Markets raised its price target on Russel Metals to C$56.00 (from C$51.00), a target that still implies roughly a 1.8% downside from the current share price.
• Analysts hold a consensus of Moderate Buy with an average price target of C$55.06 — five analysts rate the stock Buy and two rate it Hold.
• Shares jumped 6.7% to C$57.05 on heavy volume, trading above many analyst targets; the company has a C$3.14B market cap, a P/E of 18.95, and reported Q earnings of C$1.30 EPS on C$1.42B revenue.

Russel Metals (TSE:RUS - Get Free Report) had its price objective boosted by BMO Capital Markets from C$51.00 to C$56.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. BMO Capital Markets' price target points to a potential downside of 1.84% from the company's current price.

Other research analysts have also recently issued research reports about the company. Royal Bank Of Canada boosted their price objective on Russel Metals from C$51.00 to C$55.00 and gave the stock an "outperform" rating in a research note on Friday, February 13th. National Bank Financial reduced their price objective on Russel Metals from C$56.00 to C$51.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 8th. Scotiabank boosted their price objective on Russel Metals from C$52.00 to C$54.00 and gave the stock an "outperform" rating in a research note on Friday, February 13th. Stifel Nicolaus boosted their price target on Russel Metals from C$49.00 to C$50.50 and gave the stock a "hold" rating in a research note on Friday, February 13th. Finally, TD boosted their price target on Russel Metals from C$57.00 to C$63.00 and gave the stock a "buy" rating in a research note on Tuesday. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$55.06.

Russel Metals Stock Up 6.7%

Shares of RUS traded up C$3.57 during midday trading on Wednesday, reaching C$57.05. 299,590 shares of the company were exchanged, compared to its average volume of 207,866. The stock has a 50-day moving average price of C$48.79 and a 200-day moving average price of C$45.75. The company has a market cap of C$3.14 billion, a price-to-earnings ratio of 18.95, a P/E/G ratio of 0.59 and a beta of 0.95. Russel Metals has a 1-year low of C$39.09 and a 1-year high of C$58.15. The company has a current ratio of 3.06, a quick ratio of 1.44 and a debt-to-equity ratio of 30.44.

Russel Metals (TSE:RUS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported C$1.30 EPS for the quarter. The company 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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