Royal Bank Of Canada Upgrades Russel Metals Inc (RUS) to “Sector Perform”
Russel Metals Inc (TSE:RUS) was upgraded by analysts at Royal Bank Of Canada from an “under perform” rating to a “sector perform” rating in a research report issued to clients and investors on Thursday. The brokerage presently has a C$23.00 target price on the stock, up from their previous target price of C$19.00. Royal Bank Of Canada’s target price indicates a potential downside of 7.82% from the company’s previous close.
Separately, TD Securities cut their price target on Russel Metals from C$23.00 to C$21.00 and set a “hold” rating on the stock in a report on Wednesday, October 19th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of C$22.00.
Russel Metals (TSE:RUS) opened at 24.95 on Thursday. The company has a 50 day moving average of $21.08 and a 200 day moving average of $22.39. Russel Metals has a 1-year low of $13.95 and a 1-year high of $25.00. The company’s market capitalization is $1.54 billion.
About Russel Metals
Russel Metals Inc is a metals distribution company. The Company’s segments include metals service centers, energy products and steel distributors. The metals service centers segment provides processing and distribution services to a base of end users. Its Energy Products segment distributes oil country tubular goods (OCTG), line pipe, valves and fittings to the energy industry.
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