TD Securities Forecasts Strong Price Appreciation for Russel Metals (TSE:RUS) Stock

Russel Metals (TSE:RUS) had its price objective boosted by research analysts at TD Securities from C$46.00 to C$50.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ target price suggests a potential upside of 14.65% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada lifted their price objective on Russel Metals from C$43.00 to C$45.00 in a report on Friday, November 8th. National Bankshares dropped their price objective on Russel Metals from C$47.00 to C$46.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. BMO Capital Markets dropped their price objective on Russel Metals from C$46.00 to C$45.00 in a report on Wednesday, July 24th. Finally, Stifel Nicolaus decreased 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 report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$49.29.

Russel Metals Stock Performance

Shares of TSE:RUS opened at C$43.61 on Tuesday. The company has a market cap of C$2.56 billion, a P/E ratio of 12.71, a PEG ratio of 0.59 and a beta of 1.52. The company has a debt-to-equity ratio of 16.88, a quick ratio of 1.44 and a current ratio of 3.85. Russel Metals has a one year low of C$35.20 and a one year high of C$47.39. The business’s 50-day simple moving average is C$39.87 and its 200 day simple moving average is C$38.76.

Russel Metals (TSE:RUS) last announced its earnings results on Wednesday, November 6th. The company reported C$0.59 EPS for the quarter, missing the consensus estimate 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 company 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.