Russel Metals (TSE:RUS) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Russel Metals Inc. (TSE:RUS) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$43.41 and traded as high as C$49.40. Russel Metals shares last traded at C$49.31, with a volume of 286,111 shares.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RUS shares. TD Securities increased their price objective on Russel Metals from C$50.00 to C$57.00 and gave the company a “buy” rating in a report on Friday, February 13th. Stifel Nicolaus increased their price target on shares of Russel Metals from C$49.00 to C$50.50 and gave the company a “hold” rating in a research note on Friday, February 13th. Royal Bank Of Canada raised their price objective on shares of Russel Metals from C$51.00 to C$55.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Scotiabank upped their target price on shares of Russel Metals from C$52.00 to C$54.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Finally, National Bank Financial lowered shares of Russel Metals from an “outperform” rating to a “hold” rating and lifted their price target for the stock from C$54.00 to C$56.00 in a research note on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Russel Metals currently has a consensus rating of “Moderate Buy” and an average price target of C$54.42.

Russel Metals Trading Down 0.2%

The business’s 50 day simple moving average is C$47.36 and its 200 day simple moving average is C$43.49. The company has a debt-to-equity ratio of 30.44, a current ratio of 3.06 and a quick ratio of 1.44. The company has a market capitalization of C$2.65 billion, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 0.59 and a beta of 1.06.

Russel Metals Company Profile

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.