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

Russel Metals (TSE:RUS) had its target price lifted by equities research analysts at Scotiabank from C$48.00 to C$52.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. Scotiabank’s price target indicates a potential upside of 7.77% from the company’s current price.

RUS has been the subject of several other reports. National Bankshares lifted their price objective on shares of Russel Metals from C$55.00 to C$56.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Raymond James Financial lowered their price target on Russel Metals from C$56.00 to C$54.00 and set an “outperform” rating for the company in a research report on Wednesday, October 1st. Finally, Royal Bank Of Canada increased their price objective on Russel Metals from C$47.00 to C$51.00 in a report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, Russel Metals has a consensus rating of “Buy” and a consensus price target of C$51.83.

Russel Metals Stock Performance

RUS opened at C$48.25 on Thursday. The company has a market cap of C$2.69 billion, a P/E ratio of 16.52, a price-to-earnings-growth ratio of 0.59 and a beta of 1.10. The company has a quick ratio of 1.44, a current ratio of 3.37 and a debt-to-equity ratio of 20.28. The firm’s 50-day moving average price is C$44.39 and its 200-day moving average price is C$42.66. Russel Metals has a 52-week low of C$34.62 and a 52-week high of C$49.51.

Russel Metals (TSE:RUS) last released its earnings results on Wednesday, November 5th. The company reported C$0.63 EPS for the quarter. Russel Metals had a net margin of 4.27% and a return on equity of 11.03%. The company had revenue of C$1.17 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.