Russel Metals (TSE:RUS) Price Target Raised to C$65.00

Key Points

• Raymond James raised its price target on Russel Metals to C$65.00 (from C$60.00) and kept an Outperform rating, implying about a 15.2% upside from the previous close.
• Other brokers largely raised targets too — seven analysts rate the stock Buy and one Hold, giving an average rating of Moderate Buy and an average price target of C$58.94.
• Russel Metals traded at C$56.42, recently reported C$1.30 EPS on C$1.42 billion revenue, and is valued at a market cap of C$3.10 billion with a PE of 18.74.

Russel Metals (TSE:RUS - Get Free Report) had its price objective upped by analysts at Raymond James Financial from C$60.00 to C$65.00 in a report released on Thursday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Raymond James Financial's price objective would suggest a potential upside of 15.21% from the company's previous close.

A number of other equities analysts also recently issued reports on the stock. Stifel Nicolaus increased their price objective on shares of Russel Metals from C$49.00 to C$58.50 and gave the company a "hold" rating in a research note on Thursday. Scotia upped their target price on Russel Metals from C$54.00 to C$62.00 and gave the stock a "sector outperform" rating in a report on Thursday. National Bank Financial dropped their target price on Russel Metals from C$56.00 to C$51.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 8th. 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 report on Tuesday. Finally, TD Securities lifted 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. Seven equities 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.com, the stock has an average rating of "Moderate Buy" and an average price target of C$58.94.

Russel Metals Trading Down 0.7%

Shares of TSE RUS traded down C$0.41 during trading hours on Thursday, hitting C$56.42. 170,958 shares of the company traded hands, compared to its average volume of 209,589. The company's 50 day moving average price is C$48.97 and its 200 day moving average price is C$45.86. The stock has a market capitalization of C$3.10 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 0.59 and a beta of 0.95. 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 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 issued its earnings results on Tuesday, May 5th. The company reported C$1.30 earnings per share (EPS) for the quarter. The company 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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