Royal Bank of Canada Trims Russel Metals (TSE:RUS) Target Price to C$43.00

Russel Metals (TSE:RUS) had its target price reduced by equities researchers at Royal Bank of Canada from C$47.00 to C$43.00 in a research report issued on Tuesday, BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 16.59% from the stock’s current price.

Several other equities research analysts have also recently commented on the stock. TD Securities dropped their price target on shares of Russel Metals from C$48.00 to C$45.00 and set a “hold” rating on the stock in a research report on Thursday, April 25th. Scotiabank dropped their price target on shares of Russel Metals from C$50.00 to C$48.50 and set a “sector perform” rating on the stock in a research report on Wednesday, April 17th. Raymond James dropped their price target on shares of Russel Metals from C$52.00 to C$48.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Finally, Stifel Nicolaus dropped their price target on shares of Russel Metals from C$55.50 to C$54.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Russel Metals currently has an average rating of “Moderate Buy” and a consensus price target of C$47.07.

Russel Metals Stock Performance

Shares of TSE RUS traded down C$0.39 during midday trading on Tuesday, reaching C$36.88. 79,467 shares of the company traded hands, compared to its average volume of 188,202. Russel Metals has a 52 week low of C$33.38 and a 52 week high of C$47.39. The stock has a 50-day moving average price of C$38.26 and a 200 day moving average price of C$41.95. The company has a debt-to-equity ratio of 25.43, a current ratio of 4.37 and a quick ratio of 1.44. The company has a market cap of C$2.22 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 0.59 and a beta of 1.57.

Russel Metals (TSE:RUS) last issued its quarterly earnings data on Wednesday, May 1st. The company reported C$0.82 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.80 by C$0.02. Russel Metals had a net margin of 5.54% and a return on equity of 14.72%. The business had revenue of C$1.06 billion for the quarter, compared to analysts’ expectations of C$1.16 billion. Sell-side analysts anticipate that Russel Metals will post 3.5267452 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Stewart Burton acquired 3,000 shares of the business’s stock in a transaction on Friday, June 21st. The shares were purchased at an average price of C$36.35 per share, for a total transaction of C$109,050.00. Corporate insiders own 0.81% of the company’s stock.

About Russel Metals

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.