Royal Bank Of Canada Issues Positive Forecast for Russel Metals (TSE:RUS) Stock Price

Russel Metals (TSE:RUS) had its target price upped by analysts at Royal Bank Of Canada from C$63.00 to C$68.00 in a report released on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 13.16% from the stock’s current price.

A number of other research firms have also weighed in on RUS. National Bank Financial boosted their price target on shares of Russel Metals from C$51.00 to C$52.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. BMO Capital Markets increased their price target on Russel Metals from C$51.00 to C$56.00 in a report on Wednesday, May 6th. TD boosted their price objective on Russel Metals from C$63.00 to C$68.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Raymond James Financial upped their target price on Russel Metals from C$65.00 to C$70.00 in a report on Friday, June 5th. Finally, Stifel Nicolaus lifted their price target on Russel Metals from C$49.00 to C$58.50 and gave the stock a “hold” rating in a report on Thursday, May 7th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$60.61.

Russel Metals Price Performance

Shares of RUS stock traded up C$0.86 on Tuesday, reaching C$60.09. 52,374 shares of the company were exchanged, compared to its average volume of 228,387. Russel Metals has a 1 year low of C$39.09 and a 1 year high of C$64.26. The company has a debt-to-equity ratio of 29.50, a quick ratio of 1.44 and a current ratio of 2.86. The business has a 50-day moving average price of C$58.57 and a 200 day moving average price of C$51.13. The company has a market cap of C$3.30 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 0.59 and a beta of 1.16.

Russel Metals (TSE:RUS) last posted its quarterly earnings data on Tuesday, May 5th. The company reported C$1.30 EPS for the quarter. The company had revenue of C$1.42 billion during the quarter. Russel Metals had a return on equity of 12.22% and a net margin of 4.04%.

Insider Buying and Selling

In other news, insider Martin Leb Juravsky sold 5,000 shares of Russel Metals stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of C$63.28, for a total value of C$316,400.00. Following the sale, the insider owned 12,356 shares of the company’s stock, valued at C$781,887.68. The trade was a 28.81% decrease in their ownership of the stock. Also, Director James Francis Dinning sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of C$62.10, for a total value of C$155,250.00. Following the sale, the director directly owned 19,250 shares in the company, valued at C$1,195,425. This trade represents a 11.49% decrease in their position. Insiders sold 73,935 shares of company stock valued at $4,430,667 in the last ninety days. Company insiders own 0.85% of the company’s stock.

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.