Canadian Imperial Bank of Commerce Reiterates C$112.00 Price Target for Metro (TSE:MRU)

Key Points

• CIBC reiterated a C$112 price target and an “outperformer” rating for Metro, implying 14.37% upside from the prior close.
• Analyst sentiment is mixed: Metro has a consensus “Hold” rating and a C$104 average target, with ratings ranging from Strong Buy to Hold.
• Metro shares rose 2.1% to C$97.93, while the company recently reported C$1.24 in quarterly earnings per share and C$6.97 billion in revenue.

Metro (TSE:MRU - Get Free Report) has been given a C$112.00 price target by research analysts at Canadian Imperial Bank of Commerce in a research note issued on Thursday, BayStreet reports. The brokerage presently has an "outperformer" rating on the stock. Canadian Imperial Bank of Commerce's price target indicates a potential upside of 14.37% from the company's previous close.

A number of other research firms also recently issued reports on MRU. TD increased their target price on shares of Metro from C$106.00 to C$108.00 and gave the stock a "buy" rating in a research report on Thursday, August 13th. BMO Capital Markets cut shares of Metro from an "outperform" rating to a "hold" rating and lowered their price target for the company from C$105.00 to C$95.00 in a report on Monday, July 20th. National Bank Financial dropped their price target on shares of Metro from C$105.00 to C$102.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 13th. TD Securities upgraded Metro to a "strong-buy" rating in a report on Wednesday, July 29th. Finally, Royal Bank Of Canada cut their price objective on Metro from C$111.00 to C$110.00 and set a "sector perform" rating for the company in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Metro presently has a consensus rating of "Hold" and a consensus target price of C$104.00.

Metro Stock Up 2.1%

Metro stock traded up C$2.06 during mid-day trading on Thursday, hitting C$97.93. The company's stock had a trading volume of 710,973 shares, compared to its average volume of 562,557. The firm's 50 day moving average is C$90.49 and its 200 day moving average is C$91.15. The company has a market cap of C$20.49 billion, a PE ratio of 23.26, a price-to-earnings-growth ratio of 4.06 and a beta of 0.12. The company has a debt-to-equity ratio of 71.09, a current ratio of 1.43 and a quick ratio of 0.41. Metro has a 52-week low of C$86.63 and a 52-week high of C$101.30.

Metro (TSE:MRU - Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported C$1.24 earnings per share for the quarter. The company had revenue of C$6.97 billion for the quarter. Metro had a return on equity of 12.87% and a net margin of 4.00%. On average, analysts anticipate that Metro will post 4.82 earnings per share for the current year.

Insider Buying and Selling at Metro

In other Metro news, insider Simon Rivet sold 2,650 shares of the firm's stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of C$89.35, for a total transaction of C$236,777.50. Following the transaction, the insider directly owned 20,225 shares in the company, valued at C$1,807,103.75. This trade represents a 11.58% decrease in their ownership of the stock. Also, insider Alain Tadros sold 960 shares of the firm's stock in a transaction dated Friday, September 4th. The shares were sold at an average price of C$90.27, for a total value of C$86,659.20. Following the transaction, the insider owned 5,952 shares in the company, valued at approximately C$537,287.04. This trade represents a 13.89% decrease in their ownership of the stock. 0.14% of the stock is currently owned by insiders.

About Metro

With annual sales of more than $22 billion, METRO Inc is a food and pharmacy leader in Québec and Ontario, providing employment to more than 97,000 people. Its purpose is to Nourish the health and well-being of our communities. As a retailer, franchisor, distributor, manufacturer, and provider of eCommerce services, the company operates or services a network of some 1,000 food stores under several banners including Metro, Metro Plus, Super C, Food Basics, Adonis and Première Moisson, and some 640 pharmacies primarily under the Jean Coutu, Brunet, Metro Pharmacy and Food Basics Pharmacy banners.

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