Stifel Nicolaus Raises Price Target for Russel Metals Stock

Analysts at Stifel Nicolaus have recently increased their price target for Russel Metals (TSE:RUS), raising it from C$55.50 to C$60.00. This adjustment was announced in a report issued on Friday, and it indicates a potential upside of approximately 39.37% from the current trading price of the stock.

Apart from Stifel Nicolaus, several other financial institutions have also updated their outlook on Russel Metals. For instance, Raymond James raised their price target from C$50.00 to C$56.00 in a report dated November 13th. Similarly, TD Securities adjusted their target from C$46.00 to C$50.00, giving the stock a 'buy' rating in a note released on November 12th. Meanwhile, the Royal Bank of Canada upgraded Russel Metals from a 'sector perform' rating to an 'outperform' rating, increasing their target price from C$45.00 to C$51.00 on November 26th.

Currently, one analyst rates the stock as a hold, while five analysts have assigned a buy rating. According to MarketBeat, the average rating for Russel Metals stands at 'Moderate Buy' with a consensus target price of C$50.93.

Recent Stock Performance

In midday trading on Friday, Russel Metals' stock saw an increase of 4.2%, reaching C$43.05. A total of 139,520 shares were traded, which is lower than the average trading volume of 168,276 shares. The company has a market capitalization of C$2.47 billion and exhibits a debt-to-equity ratio of 20.28. Its current ratio is 3.37, and the quick ratio stands at 1.44. The stock has a price-to-earnings ratio of 13.87 and a price-to-earnings-growth ratio of 0.59, indicating its relative valuation in the market. Over the last year, the stock has fluctuated between a low of C$35.20 and a high of C$47.39.

About Russel Metals

Russel Metals Inc. is a prominent metal distribution company based in Canada. The organization primarily operates through three major segments: metals service centers, energy products, and steel distribution. The metals service centers specialize in providing processing and distribution services to a diverse range of end-users.

Stifel, Russel, Metals