Russel Metals (TSE:RUS) Price Target Raised to C$54.00 at Scotiabank

Russel Metals (TSE:RUS) had its price objective upped by equities researchers at Scotiabank from C$52.00 to C$54.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 15.36% from the company’s previous close.

A number of other equities research analysts also recently weighed in on RUS. Royal Bank Of Canada raised their target price on shares of Russel Metals from C$47.00 to C$51.00 in a research note on Wednesday, January 14th. Stifel Nicolaus downgraded shares of Russel Metals from a “buy” rating to a “hold” rating and lifted their price objective for the stock from C$49.00 to C$50.50 in a report on Friday, February 6th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$54.42.

Russel Metals Price Performance

TSE:RUS traded down C$0.12 during trading hours on Friday, hitting C$46.81. 255,820 shares of the company’s stock traded hands, compared to its average volume of 212,841. Russel Metals has a 52 week low of C$34.62 and a 52 week high of C$53.37. The business’s fifty day simple moving average is C$45.97 and its two-hundred day simple moving average is C$42.96. The company has a quick ratio of 1.44, a current ratio of 3.37 and a debt-to-equity ratio of 20.28. The firm has a market cap of C$2.61 billion, a P/E ratio of 16.03, a P/E/G ratio of 0.59 and a beta of 1.06.

Russel Metals (TSE:RUS) last released its quarterly earnings results on Wednesday, November 5th. The company reported C$0.63 earnings per share for the quarter. Russel Metals had a return on equity of 11.03% and a net margin of 4.27%.The firm had revenue of C$1.17 billion for the quarter.

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.