Russel Metals (TSE:RUS) Price Target Raised to C$70.00 at Raymond James Financial

Russel Metals (TSE:RUS) had its target price increased by equities research analysts at Raymond James Financial from C$65.00 to C$70.00 in a research report issued on Friday,BayStreet.CA reports. Raymond James Financial’s price objective points to a potential upside of 12.90% from the company’s current price.

A number of other research analysts have also recently commented on RUS. Royal Bank Of Canada boosted their target price on shares of Russel Metals from C$55.00 to C$63.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Scotia boosted their target price on shares of Russel Metals from C$54.00 to C$62.00 and gave the company a “sector outperform” rating in a research note on Thursday, May 7th. TD Securities boosted their target price on shares of Russel Metals from C$50.00 to C$57.00 and gave the company a “buy” rating in a research note on Friday, February 13th. TD boosted their target price on shares of Russel Metals from C$63.00 to C$68.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Finally, Stifel Nicolaus upped their price target on shares of Russel Metals from C$49.00 to C$58.50 and gave the stock a “hold” rating in a research report on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$60.06.

Russel Metals Trading Down 3.0%

RUS stock traded down C$1.95 during midday trading on Friday, reaching C$62.00. 81,775 shares of the company’s stock traded hands, compared to its average volume of 220,739. The company has a market capitalization of C$3.40 billion, a P/E ratio of 17.42, a PEG ratio of 0.59 and a beta of 1.16. The company has a debt-to-equity ratio of 29.50, a current ratio of 2.86 and a quick ratio of 1.44. Russel Metals has a fifty-two week low of C$39.09 and a fifty-two week high of C$64.26. The business has a 50-day moving average price of C$54.07 and a two-hundred day moving average price of C$48.57.

Russel Metals (TSE:RUS) last posted its earnings results on Tuesday, May 5th. The company reported C$1.30 EPS for the quarter. Russel Metals had a net margin of 4.04% and a return on equity of 12.22%. The business had revenue of C$1.42 billion for the quarter.

Insider Activity

In other news, insider Martin Leb Juravsky sold 5,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of C$63.28, for a total transaction of C$316,400.00. Following the completion of the transaction, the insider owned 12,356 shares in the company, valued at approximately C$781,887.68. This represents a 28.81% decrease in their ownership of the stock. Also, Director Brian Robie Hedges sold 10,000 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of C$57.00, for a total transaction of C$570,000.00. Following the completion of the transaction, the director owned 30,000 shares of the company’s stock, valued at C$1,710,000. This represents a 25.00% decrease in their position. Insiders have sold a total of 63,935 shares of company stock worth $3,798,167 over 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.