Russel Metals (TSE:RUS) Price Target Cut to C$43.00

Russel Metals (TSE:RUS) had its price objective decreased by research analysts at Royal Bank of Canada from C$47.00 to C$43.00 in a report issued on Tuesday, BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 16.82% from the company’s current price.

Other analysts have also issued reports about the stock. TD Securities lowered their target price on shares of Russel Metals from C$48.00 to C$45.00 and set a “hold” rating for the company in a research note on Thursday, April 25th. Stifel Nicolaus dropped their target price on shares of Russel Metals from C$55.50 to C$54.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Scotiabank decreased their price target on shares of Russel Metals from C$50.00 to C$48.50 and set a “sector perform” rating for the company in a research note on Wednesday, April 17th. Finally, Raymond James dropped their price objective on Russel Metals from C$52.00 to C$48.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$47.07.

Russel Metals Stock Performance

Russel Metals stock opened at C$36.81 on Tuesday. Russel Metals has a 1-year low of C$33.38 and a 1-year high of C$47.39. The company’s 50-day moving average is C$38.14 and its 200 day moving average is C$41.87. The firm has a market capitalization of C$2.21 billion, a P/E ratio of 9.30, a price-to-earnings-growth ratio of 0.59 and a beta of 1.57. The company has a debt-to-equity ratio of 25.43, a current ratio of 4.37 and a quick ratio of 1.44.

Russel Metals (TSE:RUS) last issued its quarterly earnings results on Wednesday, May 1st. The company reported C$0.82 earnings per share for the quarter, topping the consensus estimate of C$0.80 by C$0.02. Russel Metals had a return on equity of 14.72% and a net margin of 5.54%. The firm had revenue of C$1.06 billion for the quarter, compared to the consensus estimate of C$1.16 billion. Research analysts forecast that Russel Metals will post 3.5267452 EPS for the current year.

Insider Buying and Selling at Russel Metals

In related news, Director Stewart Burton purchased 3,000 shares of Russel Metals stock in a transaction dated Friday, June 21st. The stock was purchased at an average cost of C$36.35 per share, with a total value of C$109,050.00. Insiders own 0.81% of the company’s stock.

Russel Metals Company Profile

Russel Metals Inc operates as a metal distribution and processing company in Canada and the United States. It operates in three segments: Metals Service Centers, Energy Field Stores, and Steel Distribution. The Metal Service Centers segment operates a network of metals service centers, which provide metal products in range of sizes, shapes, and specifications, including carbon hot rolled and cold finished steel, pipe and tubular, stainless steel, aluminum, and other non-ferrous specialty metal products.