TD Securities Upgrades Russel Metals (TSE:RUS) to Buy

Russel Metals (TSE:RUS) was upgraded by stock analysts at TD Securities from a “hold” rating to a “buy” rating in a report issued on Monday, BayStreet.CA reports. The firm currently has a C$46.00 price target on the stock, up from their previous price target of C$44.00. TD Securities’ price target would indicate a potential upside of 18.19% from the company’s current price.

A number of other research firms have also commented on RUS. BMO Capital Markets lowered their target price on shares of Russel Metals from C$46.00 to C$45.00 in a report on Wednesday, July 24th. Stifel Nicolaus decreased their price objective on Russel Metals from C$55.00 to C$52.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Royal Bank of Canada cut their target price on Russel Metals from C$47.00 to C$43.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 2nd. Finally, National Bankshares decreased their target price on Russel Metals from C$47.00 to C$46.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Russel Metals has a consensus rating of “Moderate Buy” and a consensus price target of C$46.93.

Russel Metals Price Performance

Russel Metals stock opened at C$38.92 on Monday. The stock has a market cap of C$2.28 billion, a price-to-earnings ratio of 11.36, a P/E/G ratio of 0.59 and a beta of 1.51. Russel Metals has a 12-month low of C$33.38 and a 12-month high of C$47.39. The company has a quick ratio of 1.44, a current ratio of 3.85 and a debt-to-equity ratio of 16.88. The business’s 50-day simple moving average is C$37.88 and its 200 day simple moving average is C$39.56.

Russel Metals (TSE:RUS) last issued its earnings results on Wednesday, July 31st. The company reported C$0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.83 by C$0.01. Russel Metals had a net margin of 4.87% and a return on equity of 12.67%. The company had revenue of C$1.07 billion for the quarter, compared to analyst estimates of C$1.08 billion. As a group, research analysts anticipate that Russel Metals will post 4.0993228 earnings per share for the current year.

Insider Transactions at Russel Metals

In other Russel Metals news, Director Stewart Burton acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was acquired at an average cost of C$36.35 per share, for a total transaction of C$109,050.00. 0.83% of the stock is currently owned by insiders.

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.