Russel Metals (TSE:RUS) Downgraded by Raymond James Financial to “Market Perform”

Russel Metals (TSE:RUS) was downgraded by equities research analysts at Raymond James Financial from an “outperform” rating to a “market perform” rating in a research report issued on Monday,BayStreet.CA reports. They currently have a C$82.00 target price on the stock, up from their prior target price of C$70.00. Raymond James Financial’s price target would suggest a potential upside of 0.40% from the company’s previous close.

Several other equities analysts have also recently issued reports on RUS. Stifel Nicolaus upped their target price on shares of Russel Metals from C$64.00 to C$85.00 and gave the company a “hold” rating in a research note on Monday. TD lifted their price target on shares of Russel Metals from C$63.00 to C$68.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Royal Bank Of Canada boosted their price objective on shares of Russel Metals from C$63.00 to C$68.00 and gave the company an “outperform” rating in a report on Tuesday, June 30th. Scotia increased their price objective on shares of Russel Metals from C$54.00 to C$62.00 and gave the company a “sector outperform” rating in a research report on Thursday, May 7th. Finally, National Bank Financial raised their target price on shares of Russel Metals from C$52.00 to C$57.00 and gave the stock a “sector perform” rating in a report on Monday, July 13th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$70.11.

Russel Metals Stock Up 0.9%

Shares of RUS stock traded up C$0.71 during mid-day trading on Monday, hitting C$81.67. The company’s stock had a trading volume of 197,415 shares, compared to its average volume of 231,029. Russel Metals has a 52-week low of C$39.09 and a 52-week high of C$81.72. The business has a 50-day moving average price of C$64.91 and a 200 day moving average price of C$55.68. The company has a debt-to-equity ratio of 29.50, a quick ratio of 1.44 and a current ratio of 2.86. The stock has a market cap of C$4.48 billion, a price-to-earnings ratio of 22.94, a PEG ratio of 0.59 and a beta of 1.21.

Russel Metals (TSE:RUS) last announced its quarterly earnings results on Thursday, August 6th. The company reported C$1.63 earnings per share (EPS) for the quarter. Russel Metals had a return on equity of 12.22% and a net margin of 4.04%.The firm had revenue of C$1.66 billion for the quarter.

Insider Transactions at Russel Metals

In other news, insider John Gregory Reid sold 28,935 shares of the company’s stock in a transaction dated 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 owned 306,147 shares of the company’s stock, valued at C$17,946,337.14. This represents a 8.64% decrease in their position. Also, Director James Francis Dinning sold 2,500 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of C$62.10, for a total transaction of C$155,250.00. Following the completion of the transaction, the director owned 19,250 shares in the company, valued at C$1,195,425. This trade represents a 11.49% decrease in their position. Insiders sold a total of 58,935 shares of company stock worth $3,575,645 in the last ninety days. 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.