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

Russel Metals (TSE:RUS) had its target price boosted by equities research analysts at Royal Bank Of Canada from C$92.00 to C$107.00 in a report issued on Wednesday, BayStreet reports. Royal Bank Of Canada’s price target would suggest a potential upside of 18.82% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. Scotiabank increased their price objective on Russel Metals from C$76.00 to C$89.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 11th. TD set a C$94.00 target price on shares of Russel Metals and gave the company a “buy” rating in a research note on Monday, September 21st. Stifel Nicolaus raised their target price on shares of Russel Metals from C$64.00 to C$85.00 and gave the stock a “hold” rating in a report on Monday, August 10th. Raymond James Financial downgraded shares of Russel Metals from a “moderate buy” rating to a “hold” rating and lifted their target price for the stock from C$70.00 to C$82.00 in a research report on Monday, August 10th. Finally, National Bank Financial boosted 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 note on Monday, August 10th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$78.56.

Russel Metals Stock Up 3.6%

RUS stock traded up C$3.12 on Wednesday, reaching C$90.05. 74,527 shares of the company traded hands, compared to its average volume of 223,573. The firm has a fifty day simple moving average of C$75.71 and a 200-day simple moving average of C$63.38. The company has a market cap of C$4.94 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 0.59 and a beta of 1.28. Russel Metals has a one year low of C$39.09 and a one year high of C$90.58. The company has a debt-to-equity ratio of 27.88, a current ratio of 2.61 and a quick ratio of 1.44.

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

Insiders Place Their Bets

In related news, Director Brian Robie Hedges acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were purchased at an average price of C$80.48 per share, with a total value of C$80,480.00. Following the completion of the purchase, the director directly owned 1,000 shares of the company’s stock, valued at C$80,480. This represents a ∞ increase in their ownership of the stock. Also, Director James Francis Dinning sold 3,000 shares of Russel Metals stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of C$80.00, for a total value of C$240,000.00. Following the transaction, the director directly owned 16,250 shares in the company, valued at approximately C$1,300,000. The trade was a 15.58% decrease in their ownership of the stock. Insiders sold a total of 33,682 shares of company stock worth $2,735,333 over the last quarter. 0.85% of the stock is currently owned by corporate 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.