Russel Metals (TSE:RUS) Price Target Raised to C$89.00

Key Points

• Scotiabank raised Russel Metals’ price target to C$89 from C$76 and maintained a “sector outperform” rating, implying roughly 9.1% upside. Analysts collectively assign the stock a “Moderate Buy” consensus rating with an average target of C$76.89.
• Russel Metals shares rose to C$81.56, near their 12-month high of C$83.12, with a market capitalization of approximately C$4.48 billion. The company recently reported quarterly EPS of C$1.63 and revenue of C$1.66 billion.
• Insiders sold 58,935 shares worth approximately C$3.6 million during the last quarter, reducing their holdings; insiders currently own 0.85% of the company.

Russel Metals (TSE:RUS - Get Free Report) had its price objective raised by Scotiabank from C$76.00 to C$89.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a "sector outperform" rating on the stock. Scotiabank's target price suggests a potential upside of 9.12% from the company's current price.

A number of other equities research analysts also recently commented on the stock. National Bank Financial lifted their price target on shares of Russel Metals from C$57.00 to C$75.00 and gave the stock a "sector perform" rating in a report on Monday. Royal Bank Of Canada raised their target price on shares of Russel Metals from C$68.00 to C$92.00 and gave the stock an "outperform" rating in a research report on Monday. BMO Capital Markets lifted their target price on shares of Russel Metals from C$51.00 to C$56.00 in a research note on Wednesday, May 6th. Raymond James Financial downgraded Russel Metals from a "moderate buy" rating to a "hold" rating and boosted their price target for the company from C$70.00 to C$82.00 in a report on Monday. Finally, Scotia increased their price target on Russel Metals from C$54.00 to C$62.00 and gave the stock a "sector outperform" rating in a research note on Thursday, May 7th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$76.89.

Russel Metals Price Performance

Shares of TSE RUS traded up C$0.42 during trading on Tuesday, reaching C$81.56. The company had a trading volume of 141,889 shares, compared to its average volume of 231,496. The company has a current ratio of 2.61, a quick ratio of 1.44 and a debt-to-equity ratio of 27.88. Russel Metals has a twelve month low of C$39.09 and a twelve month high of C$83.12. The stock has a 50-day moving average price of C$65.31 and a two-hundred day moving average price of C$55.92. The stock has a market capitalization of C$4.48 billion, a PE ratio of 22.91, a price-to-earnings-growth ratio of 0.59 and a beta of 1.21.

Russel Metals (TSE:RUS - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported C$1.63 EPS for the quarter. The business had revenue of C$1.66 billion for the quarter. Russel Metals had a return on equity of 13.09% and a net margin of 4.04%.

Insider Buying and Selling at Russel Metals

In related news, insider John Gregory Reid sold 28,935 shares of the company's stock in a transaction on 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 directly owned 306,147 shares of the company's stock, valued at approximately C$17,946,337.14. This represents a 8.64% decrease in their position. Also, insider Martin Leb Juravsky sold 5,000 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of C$63.28, for a total value of C$316,400.00. Following the completion of the sale, the insider owned 12,356 shares of the company's stock, valued at approximately C$781,887.68. This represents a 28.81% decrease in their ownership of the stock. In the last quarter, insiders sold 58,935 shares of company stock worth $3,575,645. 0.85% of the stock is currently owned by insiders.

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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