Royal Bank Of Canada Forecasts Strong Price Appreciation for Russel Metals (TSE:RUS) Stock

Russel Metals (TSE:RUS) had its price target lifted by analysts at Royal Bank Of Canada from C$68.00 to C$92.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 12.65% from the stock’s current price.

RUS has been the topic of several other research reports. TD boosted their price target on Russel Metals from C$63.00 to C$68.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. BMO Capital Markets increased their price objective on Russel Metals from C$51.00 to C$56.00 in a report on Wednesday, May 6th. Scotia raised 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. National Bank Financial boosted their target price on shares of Russel Metals from C$57.00 to C$75.00 and gave the stock a “sector perform” rating in a report on Monday. Finally, Stifel Nicolaus increased their price target 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. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$70.11.

Russel Metals Stock Up 0.9%

Shares of TSE RUS traded up C$0.71 during mid-day trading on Monday, hitting C$81.67. The company had a trading volume of 197,415 shares, compared to its average volume of 231,029. The company has a current ratio of 2.86, a quick ratio of 1.44 and a debt-to-equity ratio of 29.50. The firm has a 50-day simple moving average of C$64.91 and a two-hundred day simple moving average of C$55.68. The company has a market capitalization of C$4.48 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 0.59 and a beta of 1.21. Russel Metals has a one year low of C$39.09 and a one year high of C$81.72.

Russel Metals (TSE:RUS) last released its 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 business had revenue of C$1.66 billion for the quarter.

Insiders Place Their Bets

In other news, Director Brian Robie Hedges sold 10,000 shares of Russel Metals stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of C$63.25, for a total transaction of C$632,500.00. Also, insider John Gregory Reid sold 28,935 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of C$58.62, for a total value of C$1,696,169.70. Following the transaction, the insider directly owned 306,147 shares in the company, valued at C$17,946,337.14. The trade was a 8.64% decrease in their ownership of the stock. Over the last quarter, insiders have sold 58,935 shares of company stock valued at $3,575,645. 0.85% of the stock is owned by insiders.

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.