Russel Metals (TSE:RUS) Given New C$113.00 Price Target at Scotiabank

Russel Metals (TSE:RUS) had its target price increased by Scotiabank from C$89.00 to C$113.00 in a research report issued on Monday, BayStreet reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 22.63% from the stock’s previous close.

Several other research analysts have also recently issued reports on RUS. National Bank Financial upped their price target on Russel Metals from C$57.00 to C$75.00 and gave the company a “sector perform” rating in a report on Monday, August 10th. Royal Bank Of Canada lifted their target price on Russel Metals from C$92.00 to C$107.00 in a report on Wednesday, September 30th. Stifel Nicolaus boosted their target price on Russel Metals from C$64.00 to C$85.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Raymond James Financial downgraded Russel Metals from a “moderate buy” rating to a “hold” rating and upped their target price for the company from C$70.00 to C$82.00 in a report on Monday, August 10th. Finally, TD set a C$94.00 price target on Russel Metals and gave the company a “buy” rating in a research report on Monday, September 21st. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$81.22.

Russel Metals Price Performance

TSE:RUS traded down C$3.06 during midday trading on Monday, hitting C$92.15. 121,004 shares of the stock were exchanged, compared to its average volume of 223,384. Russel Metals has a one year low of C$39.09 and a one year high of C$95.97. The company has a current ratio of 2.61, a quick ratio of 1.44 and a debt-to-equity ratio of 27.88. The business has a 50-day moving average price of C$77.10 and a two-hundred day moving average price of C$64.36. The company has a market capitalization of C$5.06 billion, a price-to-earnings ratio of 23.51, a P/E/G ratio of 0.59 and a beta of 0.95.

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

Insiders Place Their Bets

In other Russel Metals news, insider Martin Leb Juravsky sold 5,682 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of C$80.40, for a total value of C$456,832.80. Following the transaction, the insider directly owned 6,674 shares of the company’s stock, valued at C$536,589.60. This represents a 45.99% decrease in their position. Also, Director Brian Robie Hedges sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of C$81.54, for a total value of C$2,038,500.00. Insiders have sold a total of 33,682 shares of company stock valued at $2,735,333 in the last three months. Insiders own 0.85% of the company’s stock.

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.