Royal Bank of Canada Forecasts Strong Price Appreciation for Russel Metals (TSE:RUS) Stock

Russel Metals (TSE:RUS) had its price target raised by investment analysts at Royal Bank of Canada from C$43.00 to C$45.00 in a research report issued on Friday,BayStreet.CA reports. Royal Bank of Canada’s price objective points to a potential upside of 6.64% from the stock’s current price.

Several other equities analysts have also recently commented on RUS. BMO Capital Markets decreased their price target on shares of Russel Metals from C$46.00 to C$45.00 in a research report on Wednesday, July 24th. National Bankshares reduced their price objective on Russel Metals from C$47.00 to C$46.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus lowered their target price 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. Finally, TD Securities raised Russel Metals from a “hold” rating to a “buy” rating and increased their price target for the company from C$44.00 to C$46.00 in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Russel Metals presently has a consensus rating of “Moderate Buy” and a consensus target price of C$47.21.

Russel Metals Price Performance

RUS opened at C$42.20 on Friday. The stock’s 50-day moving average price is C$39.54 and its 200 day moving average price is C$38.69. Russel Metals has a 12-month low of C$35.20 and a 12-month high of C$47.39. The firm has a market cap of C$2.48 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 0.59 and a beta of 1.52. The company has a current ratio of 3.85, a quick ratio of 1.44 and a debt-to-equity ratio of 16.88.

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