Metro (TSE:MRU) Stock Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Metro Inc. (TSE:MRU) shares recently surpassed their two hundred day moving average of C$100.82, trading at a high of C$104.06 during Wednesday's session.
• Several analysts have increased their price targets for Metro, with estimates ranging from C$105.00 to C$115.00, reflecting a consensus rating of "Hold" and an average target price of C$107.44.
• The company's market capitalization stands at C$21.80 billion, and it operates supermarkets and specialty stores across Canada in the food and pharmaceutical sectors.

Shares of Metro Inc. (TSE:MRU - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$100.82 and traded as high as C$104.06. Metro shares last traded at C$98.58, with a volume of 831,655 shares.

Wall Street Analysts Forecast Growth

MRU has been the subject of a number of research analyst reports. National Bankshares dropped their target price on shares of Metro from C$111.00 to C$110.00 and set a "sector perform" rating for the company in a research report on Thursday. TD Securities increased their target price on Metro from C$112.00 to C$118.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Royal Bank Of Canada boosted their price objective on Metro from C$98.00 to C$112.00 in a research report on Monday, July 21st. Finally, BMO Capital Markets boosted their price objective on Metro from C$110.00 to C$115.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of C$110.13.

Metro Trading Up 1.7%

The company has a debt-to-equity ratio of 62.29, a current ratio of 1.35 and a quick ratio of 0.41. The business has a 50 day moving average of C$104.78 and a 200 day moving average of C$101.07. The firm has a market capitalization of C$22.29 billion, a price-to-earnings ratio of 23.26, a PEG ratio of 4.06 and a beta of 0.08.

About Metro

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.