Russel Metals (TSE:RUS) Price Target Raised to C$62.00 at Scotia

Key Points

• Scotia raised its target on Russel Metals to C$62.00 (from C$54.00) and kept a "sector outperform" rating, implying about a 9.89% upside from the current price.
• Consensus among analysts is positive—seven Buys and one Hold—giving an average target of C$58.94 and an overall MarketBeat rating of "Moderate Buy".
• Shares recently traded at C$56.42 with a market cap of C$3.10B; in the latest quarter Russel Metals reported EPS of C$1.30 on revenue of C$1.42B, a net margin of 3.64% and ROE of 10.44%.

Russel Metals (TSE:RUS - Get Free Report) had its target price lifted by equities researchers at Scotia from C$54.00 to C$62.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has a "sector outperform" rating on the stock. Scotia's target price points to a potential upside of 9.89% from the company's current price.

Several other research firms also recently issued reports on RUS. Stifel Nicolaus raised their price target on shares of Russel Metals from C$49.00 to C$50.50 and gave the company a "hold" 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 for the company in a research note on Wednesday, April 8th. TD Securities boosted their price objective on Russel Metals from C$50.00 to C$57.00 and gave the company a "buy" rating in a report on Friday, February 13th. Scotiabank increased their target price on Russel Metals from C$52.00 to C$54.00 and gave the stock an "outperform" rating in a report on Friday, February 13th. Finally, BMO Capital Markets boosted their price target on shares of Russel Metals from C$51.00 to C$56.00 in a research note on Wednesday. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of C$58.94.

Russel Metals Price Performance

Shares of TSE:RUS traded down C$0.41 during trading on Thursday, reaching C$56.42. 170,958 shares of the company traded hands, compared to its average volume of 209,589. The firm has a market capitalization of C$3.10 billion, a PE ratio of 18.74, a PEG ratio of 0.59 and a beta of 0.95. Russel Metals has a 52 week low of C$39.09 and a 52 week high of C$58.69. The company has a quick ratio of 1.44, a current ratio of 3.06 and a debt-to-equity ratio of 30.44. The company's 50 day moving average is C$48.97 and its two-hundred day moving average is C$45.86.

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

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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