North West (TSE:NWC) Given New C$58.00 Price Target at CIBC

Key Points

• CIBC has lowered its target price for North West (TSE:NWC) from C$59.00 to C$58.00 while maintaining an "outperform" rating, indicating a potential upside of 21.85% from its previous close.
• In contrast, the Royal Bank of Canada set a higher target price of C$60.00 on North West shares, with an "outperform" rating, contributing to a consensus price target of C$60.25 among analysts.
• During trading, North West stock fell 2.5% to C$47.60, with a trading volume exceeding its average; the company has a market capitalization of C$2.28 billion.

North West (TSE:NWC - Get Free Report) had its target price lowered by equities researchers at CIBC from C$59.00 to C$58.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. CIBC's target price points to a potential upside of 21.85% from the stock's previous close.

Separately, Royal Bank Of Canada set a C$60.00 target price on shares of North West and gave the company an "outperform" rating in a research note on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of C$60.25.

North West Trading Down 2.5%

NWC stock traded down C$1.22 during trading on Wednesday, reaching C$47.60. The company had a trading volume of 183,658 shares, compared to its average volume of 130,454. North West has a 52 week low of C$44.48 and a 52 week high of C$57.95. The company has a market cap of C$2.28 billion, a P/E ratio of 16.82, a PEG ratio of 1.11 and a beta of 0.20. The business has a 50 day moving average of C$48.86 and a 200 day moving average of C$50.69. The company has a debt-to-equity ratio of 59.78, a current ratio of 2.16 and a quick ratio of 0.64.

Insider Activity at North West

In related news, Senior Officer Vineet Gupta bought 2,200 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were bought at an average price of C$49.95 per share, for a total transaction of C$109,890.00. 0.12% of the stock is currently owned by insiders.

North West Company Profile

The North West Co Inc is a Canada-based company that is principally engaged in retail business in underserved rural communities and urban neighborhoods. The company provides food, family apparel, housewares, appliances, and outdoor products, with food products accounting for the majority of the company's revenue.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.