Scotiabank Issues Positive Forecast for Russel Metals (TSE:RUS) Stock Price

Russel Metals (TSE:RUS) had its target price upped by equities research analysts at Scotiabank from C$76.00 to C$89.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 9.12% from the stock’s current price.

A number of other equities analysts have also commented on RUS. Raymond James Financial lowered shares of Russel Metals from a “moderate buy” rating to a “hold” rating and boosted their price objective for the stock from C$70.00 to C$82.00 in a report on Monday. National Bank Financial raised their target price on Russel Metals from C$57.00 to C$75.00 and gave the company a “sector perform” rating in a research note on Monday. Royal Bank Of Canada raised their target price on Russel Metals from C$68.00 to C$92.00 and gave the company an “outperform” rating in a research note on Monday. TD lifted their target price on Russel Metals from C$68.00 to C$94.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Stifel Nicolaus boosted their price target on Russel Metals from C$64.00 to C$85.00 and gave the stock a “hold” rating in a research note on Monday. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$76.89.

Russel Metals Stock Up 0.5%

Shares of RUS traded up C$0.42 during mid-day trading on Tuesday, reaching C$81.56. 141,889 shares of the stock traded hands, compared to its average volume of 231,496. The stock has a fifty day simple moving average of C$65.31 and a 200 day simple moving average of C$55.92. Russel Metals has a 12-month low of C$39.09 and a 12-month high of C$83.12. The company has a quick ratio of 1.44, a current ratio of 2.61 and a debt-to-equity ratio of 27.88. The firm has a market cap of C$4.48 billion, a price-to-earnings ratio of 22.91, a P/E/G ratio of 0.59 and a beta of 1.21.

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

Insider Transactions at Russel Metals

In related news, Director James Francis Dinning sold 2,500 shares of Russel Metals stock in a transaction dated Friday, May 29th. The stock was sold at an average price of C$62.10, for a total value of C$155,250.00. Following the completion of the transaction, the director directly owned 19,250 shares in the company, valued at approximately C$1,195,425. This trade represents a 11.49% decrease in their ownership of the stock. Also, insider John Gregory Reid sold 28,935 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of C$58.62, for a total value of C$1,696,169.70. Following the completion of the sale, the insider directly owned 306,147 shares of the company’s stock, valued at approximately C$17,946,337.14. This represents a 8.64% decrease in their ownership of the stock. Insiders have sold a total of 58,935 shares of company stock valued at $3,575,645 over the last ninety days. 0.85% of the stock is currently owned by company insiders.

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.