Russel Metals (TSE:RUS) Stock Crosses Above 200 Day Moving Average – Here’s Why

Russel Metals Inc. (TSE:RUS) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$44.07 and traded as high as C$48.35. Russel Metals shares last traded at C$48.11, with a volume of 198,245 shares traded.

Analyst Upgrades and Downgrades

RUS has been the subject of a number of analyst reports. Scotiabank upped their price objective on Russel Metals from C$52.00 to C$54.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. TD Securities lifted their target price on Russel Metals from C$50.00 to C$57.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Stifel Nicolaus boosted their target price on shares of Russel Metals from C$49.00 to C$50.50 and gave the stock a “hold” rating in a report on Friday, February 13th. Royal Bank Of Canada increased their price target on shares of Russel Metals from C$51.00 to C$55.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Finally, National Bank Financial cut shares of Russel Metals from an “outperform” rating to a “hold” rating and raised their price target for the company from C$54.00 to C$56.00 in a report on Friday, February 13th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Russel Metals currently has an average rating of “Moderate Buy” and a consensus target price of C$54.42.

Russel Metals Stock Up 0.8%

The company has a 50-day moving average of C$48.01 and a 200-day moving average of C$44.07. The company has a current ratio of 3.06, a quick ratio of 1.44 and a debt-to-equity ratio of 30.44. The company has a market capitalization of C$2.65 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 0.59 and a beta of 1.00.

Russel Metals (TSE:RUS) last issued its quarterly earnings results on Wednesday, February 11th. The company reported C$0.55 earnings per share for the quarter. Russel Metals had a return on equity of 10.44% and a net margin of 3.64%.The business had revenue of C$1.09 billion during the quarter.

About Russel Metals

Russel Metals is one of the largest metals distribution companies in North America with a growing focus on value-added processing. It carries on business in three segments: metals service centers, energy field stores and steel distributors. Its network of metals service centers carries an extensive line of metal products in a wide range of sizes, shapes and specifications, including carbon hot rolled and cold finished steel, pipe and tubular products, stainless steel, aluminum and other non-ferrous specialty metals.