Scotiabank Upgrades Russel Metals Inc (RUS) to Outperform
Russel Metals Inc (TSE:RUS) was upgraded by equities researchers at Scotiabank from a “sector perform” rating to an “outperform” rating in a note issued to investors on Thursday. The brokerage currently has a C$26.00 price target on the stock, up from their previous price target of C$21.00. Scotiabank’s price target indicates a potential upside of 4.21% from the stock’s current price.
A number of other research analysts also recently issued reports on the company. BMO Capital Markets upped their price objective on Russel Metals from C$21.50 to C$24.00 in a research note on Thursday. Royal Bank Of Canada upgraded Russel Metals from an “under perform” rating to a “sector perform” rating and upped their price objective for the company from C$19.00 to C$23.00 in a research note on Thursday. Finally, TD Securities reduced their price objective on Russel Metals from C$23.00 to C$21.00 and set a “hold” rating for the company in a research note on Wednesday, October 19th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of C$22.00.
Russel Metals (TSE:RUS) opened at 24.95 on Thursday. The company has a 50-day moving average price of $21.08 and a 200-day moving average price of $22.39. The firm’s market cap is $1.54 billion. Russel Metals has a 1-year low of $13.95 and a 1-year high of $25.00.
Russel Metals Company Profile
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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