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

Key Points

• Price target cut: Canadian Imperial Bank of Commerce lowered Metro's target from C$101 to C$97 and kept a "neutral" rating, implying roughly a 7.8% upside from the prior close.
• Analyst consensus: Two analysts rate Metro a Buy and six rate it a Hold, giving an overall average rating of "Hold" with a mean price target of C$103.63.
• Market and fundamentals: Shares traded at C$90.01 (down 0.4%), below the 50- and 200-day averages (C$95.34 and C$96.29); Metro has a C$19.19B market cap, reported C$1.11 EPS and C$5.11B revenue last quarter, and insiders sold about 11,844 shares in the past 90 days.

Metro (TSE:MRU - Get Free Report) had its target price lowered by Canadian Imperial Bank of Commerce from C$101.00 to C$97.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage presently has a "neutral" rating on the stock. Canadian Imperial Bank of Commerce's price target indicates a potential upside of 7.77% from the company's previous close.

Several other research analysts have also commented on the stock. Royal Bank Of Canada raised their price objective on shares of 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. BMO Capital Markets lowered their price objective on shares of Metro from C$110.00 to C$105.00 and set an "outperform" rating for the company in a research note on Thursday. TD Securities lowered their price objective on Metro from C$118.00 to C$113.00 and set a "buy" rating for the company in a research report on Wednesday, January 28th. Desjardins lowered their price objective on Metro from C$105.00 to C$99.00 and set a "hold" rating for the company in a research report on Wednesday, January 28th. Finally, Scotiabank downgraded Metro from an "outperform" rating to a "hold" rating and set a C$103.00 price objective for the company. in a research report on Thursday, April 9th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of C$103.63.

Metro Stock Down 0.4%

Shares of TSE MRU traded down C$0.34 during midday trading on Thursday, hitting C$90.01. The company's stock had a trading volume of 241,381 shares, compared to its average volume of 529,125. The business's fifty day simple moving average is C$95.34 and its two-hundred day simple moving average is C$96.29. The company has a debt-to-equity ratio of 69.33, a current ratio of 1.42 and a quick ratio of 0.41. Metro has a 1 year low of C$89.30 and a 1 year high of C$109.20. The firm has a market capitalization of C$19.19 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 4.06 and a beta of 0.34.

Metro (TSE:MRU - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported C$1.11 EPS for the quarter. Metro had a net margin of 4.44% and a return on equity of 13.93%. The business had revenue of C$5.11 billion during the quarter. On average, equities analysts predict that Metro will post 4.8188614 EPS for the current year.

Insider Buying and Selling

In other news, insider Genevi�Ve Bich sold 4,418 shares of the business's stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of C$91.13, for a total transaction of C$402,612.34. Following the completion of the transaction, the insider directly owned 35,677 shares of the company's stock, valued at approximately C$3,251,245.01. The trade was a 11.02% decrease in their ownership of the stock. Also, insider Dan Gabbard sold 2,978 shares of the business's stock in a transaction dated 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 transaction, the insider directly owned 12,344 shares of the company's stock, valued at approximately C$1,193,294.48. This represents a 19.44% decrease in their ownership of the stock. In the last ninety days, insiders sold 11,844 shares of company stock valued at $1,096,119. 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.

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