Metro (TSE:MRU) Price Target Cut to C$97.00 by Analysts at Canadian Imperial Bank of Commerce

Metro (TSE:MRU) had its price objective reduced by investment analysts at Canadian Imperial Bank of Commerce from C$101.00 to C$97.00 in a research note issued on Thursday,BayStreet.CA reports. The firm presently has a “neutral” rating on the stock. Canadian Imperial Bank of Commerce’s price objective points to a potential upside of 7.77% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on MRU. National Bank Financial decreased their target price on Metro from C$107.00 to C$106.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 28th. Desjardins decreased their target price on Metro from C$105.00 to C$99.00 and set a “hold” rating for the company in a research note on Wednesday, January 28th. Scotiabank cut Metro from an “outperform” rating to a “hold” rating and set a C$103.00 price objective for the company. in a research note on Thursday, April 9th. Royal Bank Of Canada boosted their price objective on Metro from C$112.00 to C$113.00 and gave the company a “sector perform” rating in a research note on Friday, January 23rd. Finally, BMO Capital Markets reduced their price objective on Metro from C$110.00 to C$105.00 and set an “outperform” rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of C$103.63.

Metro Stock Down 0.4%

MRU stock traded down C$0.34 during trading on Thursday, hitting C$90.01. 241,381 shares of the company’s stock were exchanged, compared to its average volume of 529,125. The business has a 50-day moving average price of C$95.34 and a two-hundred day moving average price of C$96.29. The stock has a market capitalization of C$19.19 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 4.06 and a beta of 0.34. Metro has a 52-week low of C$89.30 and a 52-week high of C$109.20. The company has a current ratio of 1.42, a quick ratio of 0.41 and a debt-to-equity ratio of 69.33.

Metro (TSE:MRU) last posted its earnings results on Wednesday, April 22nd. The company reported C$1.11 earnings per share for the quarter. The firm had revenue of C$5.11 billion during the quarter. Metro had a return on equity of 13.93% and a net margin of 4.44%. As a group, equities research analysts expect that Metro will post 4.8188614 EPS for the current year.

Insider Transactions at Metro

In other Metro news, insider Dan Gabbard sold 2,978 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of C$96.67, for a total value of C$287,883.26. Following the completion of the sale, the insider owned 12,344 shares in the company, valued at approximately C$1,193,294.48. The trade was a 19.44% decrease in their ownership of the stock. Also, insider Paolo Bravi sold 2,430 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of C$91.46, for a total value of C$222,247.80. Following the completion of the sale, the insider owned 19,730 shares of the company’s stock, valued at approximately C$1,804,505.80. This represents a 10.97% decrease in their position. Insiders have sold a total of 11,844 shares of company stock worth $1,096,119 in the last three months. Corporate insiders own 0.14% of the company’s stock.

Metro Company Profile

Metro is one of the largest grocery retailers in Canada. With its 2018 acquisition of Jean Coutu, it also boasts a meaningful drugstore footprint. Noteworthy grocery banners include Metro, Metro Plus, Super C, and Food Basics, while its pharmacies primarily operate under the Jean Coutu and Brunet trademarks. It utilizes an array of business models, but it most frequently acts as either a retailer, operating individual stores, or a franchiser, licensing its trademarks and supplying merchandise to franchisees.