Recommendation: Speculative Buy
| Entry Date | Symbol | Recommendation | Entry Price (CAD) | Target 1 (CAD) | Target 2 (CAD) | Holding Duration | Potential Upside |
|---|---|---|---|---|---|---|---|
| 16 Jul, 24 | RUS | Speculative Buy | CAD 36.442 | CAD 40.5 | CAD 43.0 | 8 days | 18.0% |
Data Powered by EOD Historical Data (“EODHD”).
Russel Metals Inc. operates as a metal distribution and processing company in Canada and the United States. It operates in three segments: Metals Service Centers, Energy Field Stores, and Steel Distribution. The Metal Service Centers segment operates a network of metals service centers, which provide metal products in range of sizes, shapes, and specifications, including carbon hot rolled and cold finished steel, pipe and tubular, stainless steel, aluminum, and other non-ferrous specialty metal products. The Energy Field Stores segment offers specialized products, such as flanges, valves, fittings, and other products to energy industry. The Steel Distributors segment sells steel products to other steel service centers and equipment manufacturers, which include carbon steel plate, flat rolled products, beams, channels, and pipes. Russel Metals Inc. was incorporated in 1929 and is headquartered in Mississauga, Canada.
| Entry Price | Support* | Target 1 | Target 2 |
|---|---|---|---|
| 36.442 | 33.2 | 40.5 | 43.0 |
Data Source: REFINITIV, Analysis: StockNextt
*Support can be considered as an indicative stop-loss, and if prices move below that level on closing basis individuals may evaluate exiting the position depending on their risk appetite, previous holdings, and other factors considered. The support and resistance levels may need to be re-evaluated within 4-6 weeks’ time frame depending on the stock price movements from the date of recommendation on the stock.
Data Powered by EOD Historical Data (“EODHD”).
Sector: Industrials Industry: Industrial Distribution
| Company | Change (CAD) | Price (CAD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| RUS Russel Metals Inc. |
-0.12 0.28% | 42.54 | 14.21 | 10.29 | 0.58 | 1.51 | 0.60 | 7.42 |
| TIH Toromont Industries Ltd. |
1.38 1.22% | 114.06 | 19.55 | 18.80 | 1.97 | 3.37 | 1.98 | 10.62 |
| FTT Finning International Inc. |
0.86 2.35% | 37.40 | 11.86 | 9.65 | 0.53 | 2.25 | 0.77 | 6.76 |
| ADEN ADENTRA Inc. |
0.98 2.75% | 36.64 | 14.38 | 8.24 | 0.45 | 1.13 | 0.56 | 7.29 |
| DBM Doman Building Materials Group Ltd |
0.10 1.17% | 8.65 | 12.10 | 10.18 | 0.31 | 1.24 | 0.64 | 8.78 |
Data Powered by EOD Historical Data (“EODHD”).
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Target: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Target 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Target 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
Disclaimer :
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