Russel Metals (RUS) Reaches New 52-Week High After Analyst Upgrade

Russel Metals Inc (TSE:RUS) reached a new 52-week high during mid-day trading on Monday after TD Securities raised their price target on the stock from C$34.00 to C$36.00. TD Securities currently has a buy rating on the stock. Russel Metals traded as high as C$31.15 and last traded at C$30.75, with a volume of 101310 shares trading hands. The stock had previously closed at C$30.56.

A number of other research firms also recently issued reports on RUS. Scotiabank reaffirmed an “outperform” rating and set a C$32.00 price target on shares of Russel Metals in a research note on Thursday, November 9th. Raymond James Financial upped their price target on shares of Russel Metals from C$31.00 to C$32.00 and gave the company an “outperform” rating in a research note on Wednesday, November 22nd.

In other news, insider Marion Eleanor Britton sold 5,000 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of C$28.70, for a total value of C$143,500.00. Also, insider Brian Robie Hedges sold 2,000 shares of the stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of C$29.45, for a total transaction of C$58,900.00. In the last three months, insiders sold 12,400 shares of company stock worth $361,280.

The company has a market cap of $1,930.00, a P/E ratio of 16.33 and a beta of 0.67.

Russel Metals (TSE:RUS) last posted its quarterly earnings results on Wednesday, November 8th. The company reported C$0.55 EPS for the quarter. Russel Metals had a net margin of 3.96% and a return on equity of 16.49%.

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About Russel Metals

Russel Metals Inc is a metals distribution and processing company. The Company primarily distributes steel products. The Company operates through three segments: metals service centers, energy products and steel distributors. The Company provides processing and distribution services to a base of approximately 43,000 end users through a network of 50 locations in Canada and 14 locations in the United States.

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