Stifel Nicolaus Forecasts Strong Price Appreciation for Russel Metals (TSE:RUS) Stock

Key Points

• Stifel Nicolaus raised its price target on Russel Metals from C$49.00 to C$58.50 while keeping a "hold" rating, implying about a 3.7% upside from the previous close.
• Broader analyst coverage is bullish: seven Buy ratings and one Hold give a consensus rating of Moderate Buy with a consensus price target of C$58.94.
• RUS traded at C$56.42 (near its 1‑year high of C$58.69), has a market cap of C$3.10 billion, and last quarter reported C$1.30 EPS on C$1.42 billion of revenue.

Russel Metals (TSE:RUS - Get Free Report) had its price target raised by research analysts at Stifel Nicolaus from C$49.00 to C$58.50 in a report issued on Thursday,BayStreet.CA reports. The firm currently has a "hold" rating on the stock. Stifel Nicolaus' price objective suggests a potential upside of 3.69% from the company's previous close.

A number of other equities research analysts have also recently commented on the company. BMO Capital Markets lifted their price objective on Russel Metals from C$51.00 to C$56.00 in a research note on Wednesday. TD Securities increased their target price on Russel Metals from C$50.00 to C$57.00 and gave the stock a "buy" rating in a research note on Friday, February 13th. TD increased their price objective on Russel Metals from C$57.00 to C$63.00 and gave the stock a "buy" rating in a report on Tuesday. National Bank Financial cut 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 note on Wednesday, April 8th. Finally, Scotia raised their price target on shares of Russel Metals from C$54.00 to C$62.00 and gave the stock a "sector outperform" rating in a research note on Thursday. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$58.94.

Russel Metals Price Performance

RUS stock traded down C$0.41 during midday trading on Thursday, reaching C$56.42. 170,958 shares of the company's stock traded hands, compared to its average volume of 209,589. The company has a 50-day simple moving average of C$48.97 and a two-hundred day simple moving average of C$45.86. Russel Metals has a 1-year low of C$39.09 and a 1-year high of C$58.69. The company has a market cap of C$3.10 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 0.59 and a beta of 0.95. The company has a quick ratio of 1.44, a current ratio of 3.06 and a debt-to-equity ratio of 30.44.

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

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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