What’s Propelling Russel Metals Inc to Reach 52-Week High?

 What's Propelling Russel Metals Inc to Reach 52 Week High?

The stock of Russel Metals Inc (TSE:RUS) hit a new 52-week high and has $27.96 target or 7.00% above today’s $26.13 share price. The 5 months bullish chart indicates low risk for the $1.64B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $27.96 price target is reached, the company will be worth $114.80M 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 12,485 shares traded hands. Russel Metals Inc (TSE:RUS) has risen 19.22% since April 19, 2016 and is uptrending. It has outperformed by 13.89% 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 -18.98% below today’s ($26.13) stock price. Russel Metals has been the topic of 19 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was maintained by TD Securities with “Hold” on Tuesday, July 28. BMO Capital Markets maintained Russel Metals Inc (TSE:RUS) rating on Friday, August 14. BMO Capital Markets has “Market Perform” rating and $21 price target. 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. The stock of Russel Metals Inc (TSE:RUS) has “Underperform” rating given on Thursday, October 8 by RBC Capital Markets. RBC Capital Markets upgraded Russel Metals Inc (TSE:RUS) on Thursday, November 10 to “Sector Perform” rating.

Another recent and important Russel Metals Inc (TSE:RUS) news was published by Moodys.com which published an article titled: “Moody’s downgrades Russel Metals’ rating to Ba3; outlook negative” on February 26, 2016.

Russel Metals Inc. is a metals distribution company. The company has a market cap of $1.64 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.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment