North West (TSE:NWC) Price Target Cut to C$58.00 by Analysts 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 price objective reduced by investment analysts at CIBC from C$59.00 to C$58.00 in a report issued on Wednesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. CIBC's price objective points to a potential upside of 21.62% from the company's previous close.

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

North West Trading Down 0.1%

Shares of TSE NWC traded down C$0.07 during mid-day trading on Wednesday, hitting C$47.69. The stock had a trading volume of 205,703 shares, compared to its average volume of 132,280. The company has a debt-to-equity ratio of 59.78, a quick ratio of 0.64 and a current ratio of 2.16. North West has a 1 year low of C$44.48 and a 1 year high of C$57.95. The business has a 50 day moving average price of C$48.85 and a two-hundred day moving average price of C$50.72. The firm has a market cap of C$2.27 billion, a P/E ratio of 16.79, a price-to-earnings-growth ratio of 1.11 and a beta of 0.20.

Insiders Place Their Bets

In other news, Senior Officer Vineet Gupta purchased 2,200 shares of North West stock in a transaction that occurred on Tuesday, June 17th. The shares were bought at an average cost of C$49.95 per share, with a total value of C$109,890.00. 0.12% of the stock is currently owned by insiders.

About North West

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.