Russel Metals (TSE:RUS) Upgraded to “Outperform” at Royal Bank of Canada

Russel Metals (TSE:RUS) was upgraded by stock analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a C$51.00 price objective on the stock, up from their previous price objective of C$45.00. Royal Bank of Canada’s target price points to a potential upside of 14.17% from the stock’s current price.

Other research analysts have also issued research reports about the company. Stifel Nicolaus increased their target price on Russel Metals from C$54.50 to C$57.00 in a research report on Friday. Raymond James increased their target price on Russel Metals from C$50.00 to C$56.00 in a research report on Wednesday, November 13th. National Bankshares decreased their target price on Russel Metals from C$47.00 to C$46.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, TD Securities increased their target price on Russel Metals from C$46.00 to C$50.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$50.50.

Russel Metals Stock Performance

Russel Metals stock traded up C$0.87 during mid-day trading on Tuesday, hitting C$44.67. The company had a trading volume of 140,453 shares, compared to its average volume of 184,178. 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 has a 12-month low of C$35.20 and a 12-month high of C$47.39. The company’s fifty day moving average is C$40.92 and its 200-day moving average is C$38.97. The company has a market capitalization of C$2.62 billion, a price-to-earnings ratio of 12.99, a P/E/G ratio of 0.59 and a beta of 1.52.

Russel Metals (TSE:RUS) last announced its 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 net margin of 4.87% and a return on equity of 12.67%. 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.