Could Russel Metals Inc Lose its Strength? The Stock Reaches 52-Week High

 Could Russel Metals Inc Lose its Strength? The Stock Reaches 52 Week High

The stock of Russel Metals Inc (TSE:RUS) hit a new 52-week high and has $39.18 target or 64.00% above today’s $23.89 share price. The 6 months bullish chart indicates low risk for the $1.56B company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $39.18 price target is reached, the company will be worth $998.40M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 31,908 shares traded hands. Russel Metals Inc (TSE:RUS) has risen 25.06% since April 7, 2016 and is uptrending. It has outperformed by 18.92% the S&P500.

Russel Metals Inc (TSE:RUS) Ratings Coverage

Out of 4 analysts covering Russel Metals (TSE:RUS), 0 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 0 are positive. $27 is the highest target while $17 is the lowest. The $21.17 average target is -11.39% below today’s ($23.89) stock price. Russel Metals has been the topic of 19 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Russel Metals Inc (TSE:RUS) earned “Underperform” rating by RBC Capital Markets on Thursday, October 8. The firm earned “Market Perform” rating on Friday, August 14 by BMO Capital Markets. The company was upgraded on Thursday, November 10 by RBC Capital Markets. The stock of Russel Metals Inc (TSE:RUS) earned “Hold” rating by TD Securities on Friday, August 14. The firm earned “Outperform” rating on Friday, August 14 by Raymond James. TD Securities maintained it with “Hold” rating and $25 target price in Tuesday, July 28 report.

More news for Russel Metals Inc (TSE:RUS) were recently published by: Prnewswire.com, which released: “Russel Metals Inc. Notice – 2016 Third Quarter Results Conference Call” on January 15, 2016. Theglobeandmail.com‘s article titled: “The Globe and Mail” and published on July 13, 2010 is yet another important article.

Russel Metals Inc. is a metals distribution company. The company has a market cap of $1.56 billion. The Company’s divisions include metals service centers, energy products and steel distributors. It currently has negative earnings. The metals service centers segment provides processing and distribution services to a base of end users.

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