Russel Metals (TSE:RUS) Given Outperform Rating at Raymond James

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Raymond James reiterated their outperform rating on shares of Russel Metals (TSE:RUS) in a research report sent to investors on Thursday, BayStreet.CA reports. Raymond James currently has a C$25.00 price objective on the stock.

Several other equities research analysts have also recently weighed in on RUS. TD Securities cut shares of Russel Metals from a buy rating to a hold rating and reduced their target price for the company from C$24.00 to C$22.00 in a research note on Thursday, October 10th. BMO Capital Markets reduced their target price on shares of Russel Metals from C$26.00 to C$24.00 in a research note on Thursday, July 4th. Finally, Royal Bank of Canada reduced their target price on shares of Russel Metals from C$25.00 to C$22.00 and set a sector perform rating for the company in a research note on Monday, August 12th.

Shares of TSE RUS traded down C$0.06 during mid-day trading on Thursday, hitting C$20.55. The company had a trading volume of 160,815 shares, compared to its average volume of 197,238. The company has a debt-to-equity ratio of 70.63, a current ratio of 2.99 and a quick ratio of 1.15. The business’s 50-day simple moving average is C$20.75 and its 200-day simple moving average is C$21.64. Russel Metals has a 12 month low of C$18.47 and a 12 month high of C$28.00. The firm has a market cap of $1.26 billion and a P/E ratio of 7.11.

Russel Metals (TSE:RUS) last released its earnings results on Thursday, August 8th. The company reported C$0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.48 by C$0.02. The company had revenue of C$936.70 million during the quarter. As a group, sell-side analysts predict that Russel Metals will post 2.2922062 EPS for the current year.

In other Russel Metals news, Director Brian Robie Hedges purchased 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was purchased at an average price of C$19.84 per share, with a total value of C$79,360.00. Following the completion of the transaction, the director now directly owns 119,477 shares of the company’s stock, valued at approximately C$2,370,423.68. Also, Director James Francis Dinning purchased 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was acquired at an average cost of C$20.34 per share, with a total value of C$50,851.00. Following the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at C$508,510.

About Russel Metals

Russel Metals Inc distributes steel and metal products in North America. The company operates through three segments: Metal Service Centers, Energy Products, and Steel Distributors. The Metal Service Center segment sells plates, flat rolled carbon and general line steel products, stainless steel, aluminum, and other non-ferrous specialty metal products.

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