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

Russel Metals (TSE:RUS) had its target price lowered by equities research analysts at Royal Bank of Canada from C$47.00 to C$43.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 16.82% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. TD Securities dropped their price objective on Russel Metals from C$48.00 to C$45.00 and set a “hold” rating on the stock in a report on Thursday, April 25th. Stifel Nicolaus cut their target price on 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. Raymond James cut their target price on 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, Scotiabank cut their target price on 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. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$47.07.

Russel Metals Price Performance

RUS stock opened at C$36.81 on Tuesday. The business has a 50 day moving average price of C$38.14 and a 200 day moving average price of C$41.87. The company has a quick ratio of 1.44, a current ratio of 4.37 and a debt-to-equity ratio of 25.43. The stock has a market cap of C$2.21 billion, a price-to-earnings ratio of 9.30, a PEG ratio of 0.59 and a beta of 1.57. Russel Metals has a fifty-two week low of C$33.38 and a fifty-two week high of C$47.39.

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, topping the consensus estimate of C$0.80 by C$0.02. The business had revenue of C$1.06 billion during the quarter, compared to the consensus estimate of C$1.16 billion. Russel Metals had a net margin of 5.54% and a return on equity of 14.72%. Equities research analysts anticipate that Russel Metals will post 3.5267452 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Stewart Burton acquired 3,000 shares of the company’s stock in a transaction on Friday, June 21st. The shares were bought at an average cost of C$36.35 per share, with a total value of C$109,050.00. Corporate 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.