Russel Metals (TSE:RUS) Price Target Raised to C$62.00 at Scotia

Russel Metals (TSE:RUS) had its price target raised by analysts at Scotia from C$54.00 to C$62.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a “sector outperform” rating on the stock. Scotia’s price objective indicates a potential upside of 9.89% from the company’s current price.

Other equities analysts have also recently issued reports about the company. TD boosted their target price on Russel Metals from C$57.00 to C$63.00 and gave the stock a “buy” rating in a research report on Tuesday. Scotiabank raised their price objective on shares of Russel Metals from C$52.00 to C$54.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Royal Bank Of Canada raised their price objective on Russel Metals from C$51.00 to C$55.00 and gave the company an “outperform” rating in a report on Friday, February 13th. National Bank Financial lowered their price objective on shares of Russel Metals from C$56.00 to C$51.00 and set a “sector perform” rating for the company in a report on Wednesday, April 8th. Finally, BMO Capital Markets lifted their target price on shares of Russel Metals from C$51.00 to C$56.00 in a research note on Wednesday. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$58.94.

Russel Metals Stock Performance

Shares of TSE RUS traded down C$0.41 during mid-day trading on Thursday, hitting C$56.42. The company had a trading volume of 170,958 shares, compared to its average volume of 209,589. 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 company has a market capitalization of C$3.10 billion, a price-to-earnings ratio of 18.74, a P/E/G ratio of 0.59 and a beta of 0.95. Russel Metals has a 1 year low of C$39.09 and a 1 year high of C$58.69. The stock’s 50-day moving average price is C$48.97 and its 200-day moving average price is C$45.86.

Russel Metals (TSE:RUS) last announced its quarterly earnings results on Tuesday, May 5th. The company reported C$1.30 earnings per share (EPS) for the quarter. The firm had revenue of C$1.42 billion for the quarter. Russel Metals had a net margin of 3.64% and a return on equity of 10.44%.

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.