Russel Metals (TSE:RUS) Shares Cross Above 200-Day Moving Average - Here's Why

Key Points

• Russel Metals has crossed above its 200-day moving average (200-day MA C$44.30), trading as high as C$48.34 and last at C$47.96 while its 50-day MA sits at C$47.98, a bullish technical signal.
• Analysts have largely raised targets and ratings—four Buy and two Hold—leaving a consensus rating of "Moderate Buy" with a consensus price target of C$54.42 (individual targets raised up to C$57.00).
• Recent fundamentals: the company reported C$0.55 EPS on C$1.09 billion revenue for the quarter, with a market cap of C$2.64 billion, a P/E of 15.93 and a PEG of 0.59.

Russel Metals Inc. (TSE:RUS - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$44.30 and traded as high as C$48.34. Russel Metals shares last traded at C$47.96, with a volume of 139,668 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. National Bank Financial lowered Russel Metals from an "outperform" rating to a "hold" rating and raised their price objective for the stock from C$54.00 to C$56.00 in a report on Friday, February 13th. TD Securities upped their target price on Russel Metals from C$50.00 to C$57.00 and gave the company a "buy" rating in a research report on Friday, February 13th. Royal Bank Of Canada raised their price target 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. Stifel Nicolaus lifted their price target on Russel Metals from C$49.00 to C$50.50 and gave the stock a "hold" rating in a research report on Friday, February 13th. Finally, Scotiabank boosted their price objective on Russel Metals from C$52.00 to C$54.00 and gave the company an "outperform" rating in a research note on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Russel Metals currently has a consensus rating of "Moderate Buy" and a consensus price target of C$54.42.

Russel Metals Price Performance

The company has a 50-day moving average of C$47.98 and a 200-day moving average of C$44.30. The company has a debt-to-equity ratio of 30.44, a quick ratio of 1.44 and a current ratio of 3.06. The stock has a market cap of C$2.64 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 0.59 and a beta of 1.00.

Russel Metals (TSE:RUS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The company reported C$0.55 earnings per share for the quarter. The company had revenue of C$1.09 billion during 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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