Russel Metals (TSE:RUS) Raised to Outperform at Royal Bank of Canada

Russel Metals (TSE:RUS) was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a report issued on Tuesday, Marketbeat reports. The brokerage presently has a C$51.00 price target on the stock, up from their prior price target of C$45.00. Royal Bank of Canada’s price target suggests a potential upside of 12.88% from the company’s previous close.

A number of other equities analysts have also recently weighed in on RUS. National Bankshares reduced their price target on Russel Metals from C$47.00 to C$46.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. TD Securities upped their target price on Russel Metals from C$46.00 to C$50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Raymond James lifted their price target on shares of Russel Metals from C$50.00 to C$56.00 in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus upped their price objective on shares of Russel Metals from C$54.50 to C$57.00 in a research report on Friday, November 22nd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$50.50.

Russel Metals Price Performance

TSE:RUS opened at C$45.18 on Tuesday. The company has a debt-to-equity ratio of 16.88, a current ratio of 3.85 and a quick ratio of 1.44. The company has a 50 day moving average price of C$41.06 and a 200-day moving average price of C$39.01. Russel Metals has a 1-year low of C$35.20 and a 1-year high of C$47.39. The firm has a market cap of C$2.65 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 0.59 and a beta of 1.52.

Russel Metals (TSE:RUS) last released its quarterly earnings data on Wednesday, November 6th. The company reported C$0.59 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.61 by C($0.02). Russel Metals had a net margin of 4.87% and a return on equity of 12.67%. The firm had revenue of C$1.09 billion during the quarter, compared to analysts’ expectations of C$1.06 billion.

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.