Russel Metals (TSE:RUS) Price Target Raised to C$89.00

Russel Metals (TSE:RUS) had its target price lifted by Scotiabank from C$76.00 to C$89.00 in a report issued on Tuesday morning,BayStreet.CA reports. The brokerage currently has a sector outperform rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. Raymond James Financial cut Russel Metals from a “moderate buy” rating to a “hold” rating and upped their price objective for the stock from C$70.00 to C$82.00 in a research note on Monday. TD boosted their target price on shares of Russel Metals from C$68.00 to C$94.00 and gave the stock a “buy” rating in a report on Tuesday. Scotia increased their price target 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. BMO Capital Markets boosted their price objective on shares of Russel Metals from C$51.00 to C$56.00 in a research note on Wednesday, May 6th. Finally, National Bank Financial increased their target price on shares of Russel Metals from C$57.00 to C$75.00 and gave the company a “sector perform” rating in a research report on Monday. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$76.89.

Russel Metals Stock Performance

Shares of RUS stock opened at C$80.50 on Tuesday. The firm has a market cap of C$4.42 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 0.59 and a beta of 1.21. The company’s 50 day moving average is C$66.33 and its 200 day moving average is C$56.60. The company has a quick ratio of 1.44, a current ratio of 2.61 and a debt-to-equity ratio of 27.88. Russel Metals has a 52-week low of C$39.09 and a 52-week high of C$83.12.

Russel Metals (TSE:RUS) last announced 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 13.09% and a net margin of 4.04%.The business had revenue of C$1.66 billion for the quarter.

Russel Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 15th were paid a $0.44 dividend. The ex-dividend date was Thursday, May 28th. This represents a $1.76 dividend on an annualized basis and a yield of 2.2%. Russel Metals’s dividend payout ratio (DPR) is 44.13%.

Insiders Place Their Bets

In related news, Director Brian Robie Hedges acquired 1,000 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were purchased at an average price of C$80.48 per share, for a total transaction of C$80,480.00. Following the completion of the acquisition, the director directly owned 1,000 shares in the company, valued at C$80,480. The trade was a ∞ increase in their position. Also, insider John Gregory Reid sold 28,935 shares of the stock in a transaction that occurred on 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 transaction, the insider directly owned 306,147 shares of the company’s stock, valued at C$17,946,337.14. The trade was a 8.64% decrease in their ownership of the stock. Insiders have sold a total of 83,935 shares of company stock worth $5,614,145 over the last ninety days. Insiders own 0.85% of the company’s stock.

Russel Metals News Summary

Here are the key news stories impacting Russel Metals this week:

• Positive Sentiment: Analyst support: TD Securities, Stifel Nicolaus and RBC each reported expectations for further price appreciation in Russel Metals, reinforcing the recent bullish sentiment. TD analyst expects Russel Metals stock to rise Stifel Nicolaus expects Russel Metals stock to rise RBC forecasts strong price appreciation for Russel Metals
• Positive Sentiment: Higher Scotiabank target: Scotiabank raised its price target to C$89.00, implying additional upside from the stock’s recent trading level and providing a significant near-term catalyst. Scotiabank raises Russel Metals price target
• Neutral Sentiment: Insider transactions were mixed: Director Brian Robie Hedges bought 1,000 shares for approximately C$80,480 on August 13, but this followed the sale of 25,000 shares for approximately C$2.04 million on August 11. The net reduction in his holdings is a cautionary signal, although the new purchase may indicate some continued confidence. Russel Metals insider transactions
• Negative Sentiment: Valuation and consensus risk: The reported analyst consensus target of C$61.17 is well below the recent share price, suggesting that some analysts view the stock as fully valued or vulnerable to a pullback. Raymond James also downgraded Russel Metals to Hold, tempering the impact of the more bullish forecasts. Russel Metals consensus price target Raymond James downgrades Russel Metals to Hold

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.