Stifel Nicolaus Increases Price Target for Russel Metals Stock

Analysts at Stifel Nicolaus have raised their price target for Russel Metals (TSE:RUS) from C$55.50 to C$60.00, according to a report issued on Friday. This new price target indicates a potential upside of approximately 39.37% based on the stock's current trading price.

Multiple other analysts have also recently provided their insights on Russel Metals. For instance, Raymond James upgraded their price objective from C$50.00 to C$56.00 in a report released on November 13. Similarly, TD Securities increased their target from C$46.00 to C$50.00 and issued a "buy" rating for the stock on November 12. Additionally, the Royal Bank of Canada has upgraded the stock from a "sector perform" rating to "outperform" and adjusted their target price from C$45.00 to C$51.00 on November 26.

Regarding overall analyst sentiment, one analyst has given Russel Metals a hold rating, while five analysts have rated the stock as a buy. Currently, MarketBeat data suggests that the stock holds a "Moderate Buy" average rating alongside a consensus target price of C$50.93.

Russel Metals Stock Performance

On the trading day following the report, Russel Metals' shares rose by 4.2%, hitting a price of C$43.05 during midday trading. During this time, 139,520 shares were exchanged, which is slightly less than the average volume of 168,276 shares. The current market capitalization for Russel Metals is C$2.47 billion. Financial metrics show a debt-to-equity ratio of 20.28, a current ratio of 3.37, and a quick ratio of 1.44. The stock has a price-to-earnings (P/E) ratio of 13.87, a price-to-earnings-growth (PEG) ratio of 0.59, and a beta of 1.52. Over the last 52 weeks, the shares have hit lows of C$35.20 and topped out at C$47.39.

About Russel Metals

Russel Metals Inc is a leading metal distribution company based in Canada. The company operates primarily through three segments: metals service centers, energy products, and steel distribution. Its metal service centers provide essential processing and distribution services to a wide array of end-users.

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