Scotiabank Issues Pessimistic Forecast for Russel Metals (TSE:RUS) Stock Price

Russel Metals (TSE:RUS) had its target price reduced by analysts at Scotiabank from C$113.00 to C$109.00 in a research report issued on Monday, BayStreet reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank‘s price target would indicate a potential upside of 40.32% from the stock’s current price.

Several other research firms have also commented on RUS. TD set a C$94.00 price objective on Russel Metals and gave the stock a “buy” rating in a research report on Monday, September 21st. Stifel Nicolaus raised their target price on Russel Metals from C$64.00 to C$85.00 and gave the company a “hold” rating in a research report on Monday, August 10th. Raymond James Financial upped their price objective on shares of Russel Metals from C$82.00 to C$92.00 and gave the company a “market perform” rating in a research note on Wednesday, October 21st. National Bank Financial raised their target price on Russel Metals from C$75.00 to C$101.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 15th. Finally, Royal Bank Of Canada lifted their price target on shares of Russel Metals from C$92.00 to C$107.00 in a research report on Wednesday, September 30th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$84.78.

Russel Metals Stock Performance

Shares of RUS stock traded up C$1.51 during mid-day trading on Monday, reaching C$77.68. The stock had a trading volume of 187,688 shares, compared to its average volume of 227,866. Russel Metals has a 1-year low of C$39.09 and a 1-year high of C$95.97. The firm has a market cap of C$4.27 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 0.59 and a beta of 0.74. The company has a current ratio of 2.75, a quick ratio of 1.44 and a debt-to-equity ratio of 25.75. The business’s fifty day moving average is C$84.50 and its 200-day moving average is C$64.42.

Russel Metals (TSE:RUS) last issued its earnings results on Wednesday, November 4th. The company reported C$2.67 EPS for the quarter. Russel Metals had a return on equity of 18.02% and a net margin of 5.12%. The firm had revenue of C$1.82 billion for the quarter.

Insider Transactions at Russel Metals

In related news, insider Martin Leb Juravsky sold 5,682 shares of Russel Metals stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of C$80.40, for a total value of C$456,832.80. Following the completion of the sale, the insider owned 6,674 shares in the company, valued at approximately C$536,589.60. This trade represents a 45.99% decrease in their position. Also, Director James Francis Dinning sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of C$80.00, for a total value of C$240,000.00. Following the completion of the sale, the director directly owned 16,250 shares in the company, valued at approximately C$1,300,000. The trade was a 15.58% decrease in their position. In the last three months, insiders have sold 33,682 shares of company stock worth $2,735,333. 0.85% of the stock is currently owned by insiders.

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.