Russel Metals (TSE:RUS) Price Target Cut to C$34.00

Russel Metals (TSE:RUS) had its target price dropped by investment analysts at TD Securities from C$39.00 to C$34.00 in a report released on Friday, November 9th. The brokerage currently has a “buy” rating on the stock. TD Securities’ target price points to a potential upside of 46.74% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada increased their target price on Russel Metals from C$30.00 to C$32.00 and gave the stock a “sector perform” rating in a report on Monday, August 13th. Raymond James raised their price target on Russel Metals from C$35.00 to C$36.00 and gave the company a “strong-buy” rating in a report on Monday, August 13th.

Russel Metals stock traded up C$0.02 during trading hours on Friday, hitting C$23.17. The stock had a trading volume of 152,610 shares, compared to its average volume of 192,847. The company has a quick ratio of 1.04, a current ratio of 2.51 and a debt-to-equity ratio of 63.69. Russel Metals has a fifty-two week low of C$22.48 and a fifty-two week high of C$32.65.

Russel Metals (TSE:RUS) last posted its quarterly earnings results on Wednesday, November 7th. The company reported C$1.10 EPS for the quarter. The firm had revenue of C$1.14 billion during the quarter. Equities research analysts forecast that Russel Metals will post 2.77999983873594 EPS for the current year.

In other Russel Metals news, Director Annie Thabet purchased 3,750 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The stock was purchased at an average cost of C$26.00 per share, with a total value of C$97,500.00. Insiders have purchased a total of 4,850 shares of company stock valued at $122,522 over the last ninety days.

Russel Metals Company Profile

Russel Metals Inc processes and distributes steel and other metal products in North America. The company operates in three segments: Metals Service Centers, Energy Products, and Steel Distributors. The Metals Service Centers segment purchases metal products from steel producers; and packages, processes, and sells carbon hot rolled and cold finished steel, pipe and tubular, and stainless steel and aluminum products, as well as other non-ferrous specialty metals in a range of sizes, shapes, and specifications.

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