Russel Metals (TSE:RUS) Stock Price Crosses Above Two Hundred Day Moving Average of $21.50

Russel Metals Inc (TSE:RUS)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $21.50 and traded as high as $21.50. Russel Metals shares last traded at $21.10, with a volume of 108,856 shares trading hands.

Several equities research analysts have recently issued reports on RUS shares. BMO Capital Markets lowered their price objective on Russel Metals from C$26.00 to C$24.00 in a research note on Thursday, July 4th. Royal Bank of Canada lowered their price objective on Russel Metals from C$25.00 to C$22.00 and set a “sector perform” rating for the company in a research note on Monday, August 12th. Raymond James reaffirmed an “outperform” rating and issued a C$25.00 price objective on shares of Russel Metals in a research note on Thursday, October 17th. Finally, TD Securities lowered Russel Metals from a “buy” rating to a “hold” rating and lowered their price objective for the company from C$24.00 to C$22.00 in a research note on Thursday, October 10th.

The company has a current ratio of 2.99, a quick ratio of 1.15 and a debt-to-equity ratio of 70.63. The stock has a market capitalization of $1.28 billion and a P/E ratio of 7.34. The stock has a 50 day moving average of C$20.88 and a 200-day moving average of C$21.50.

Russel Metals (TSE:RUS) last issued its quarterly earnings results on Thursday, August 8th. The company reported C$0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$0.48 by C$0.02. The business had revenue of C$936.70 million for the quarter. Research analysts anticipate that Russel Metals Inc will post 2.2599999 EPS for the current year.

In other Russel Metals news, Director James Francis Dinning purchased 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was purchased at an average cost of C$20.34 per share, with a total value of C$50,851.00. Following the purchase, the director now owns 25,000 shares of the company’s stock, valued at C$508,510. Also, Director Brian Robie Hedges purchased 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were acquired at an average cost of C$19.84 per share, with a total value of C$79,360.00. Following the completion of the purchase, the director now directly owns 119,477 shares in the company, valued at approximately C$2,370,423.68.

Russel Metals Company Profile (TSE:RUS)

Russel Metals Inc distributes steel and metal products in North America. The company operates through three segments: Metal Service Centers, Energy Products, and Steel Distributors. The Metal Service Center segment sells plates, flat rolled carbon and general line steel products, stainless steel, aluminum, and other non-ferrous specialty metal products.

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