Russel Metals (TSE:RUS) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Russel Metals Inc. (TSE:RUS) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$44.30 and traded as high as C$48.34. Russel Metals shares last traded at C$47.96, with a volume of 139,668 shares traded.

Analysts Set New Price Targets

RUS has been the topic of several research analyst reports. TD Securities upped their price objective on shares of Russel Metals from C$50.00 to C$57.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Scotiabank lifted 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 research note on Friday, February 13th. National Bank Financial downgraded Russel Metals from an “outperform” rating to a “hold” rating and boosted their target price for the stock from C$54.00 to C$56.00 in a report on Friday, February 13th. Royal Bank Of Canada increased their price target on Russel Metals from C$51.00 to C$55.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Finally, Stifel Nicolaus lifted their price objective on Russel Metals from C$49.00 to C$50.50 and gave the company a “hold” rating in a research report on Friday, February 13th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$54.42.

Russel Metals Stock Performance

The stock has a market cap of C$2.64 billion, a price-to-earnings ratio of 15.93, a P/E/G ratio of 0.59 and a beta of 1.00. The company has a current ratio of 3.06, a quick ratio of 1.44 and a debt-to-equity ratio of 30.44. The firm has a fifty day simple moving average of C$47.98 and a 200-day simple moving average of C$44.35.

Russel Metals (TSE:RUS) last released its earnings results on Wednesday, February 11th. The company reported C$0.55 earnings per share for the quarter. Russel Metals had a return on equity of 10.44% and a net margin of 3.64%.The company had revenue of C$1.09 billion during 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.