Eight Capital Trims Metro, Inc. (MRU) Target Price to C$52.00
Metro, Inc. (TSE:MRU) had its price objective cut by analysts at Eight Capital from C$54.00 to C$52.00 in a research note issued to investors on Friday, StockTargetPrices.com reports. Eight Capital’s target price points to a potential upside of 21.16% from the company’s current price.
Several other research analysts have also recently weighed in on the stock. Raymond James Financial, Inc. reaffirmed an “outperform” rating and issued a C$50.00 price target on shares of Metro in a report on Wednesday, April 19th. TD Securities reissued a “hold” rating and issued a C$45.00 target price on shares of Metro in a research note on Monday, April 24th. BMO Capital Markets raised Metro from a “market perform” rating to an “outperform” rating and increased their target price for the company from C$42.00 to C$53.00 in a research note on Wednesday, April 26th. Scotiabank increased their target price on Metro from C$52.00 to C$54.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Finally, CIBC increased their target price on Metro from C$43.00 to C$48.00 in a research note on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Metro presently has a consensus rating of “Buy” and an average target price of C$48.92.
Shares of Metro (TSE:MRU) traded down 0.54% during trading on Friday, hitting $42.69. The stock had a trading volume of 186,596 shares. Metro has a 1-year low of $38.00 and a 1-year high of $48.10. The firm’s 50 day moving average is $43.46 and its 200 day moving average is $42.23. The company has a market cap of $9.72 billion and a PE ratio of 17.33.
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In other news, insider Martin Allaire sold 9,360 shares of the stock in a transaction dated Friday, April 28th. The shares were sold at an average price of C$46.51, for a total transaction of C$435,333.60. Also, insider Yves Vézina sold 9,600 shares of the stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of C$46.20, for a total transaction of C$443,520.00. Insiders have sold 29,495 shares of company stock worth $1,357,789 over the last ninety days.
Metro Company Profile
METRO INC. is engaged in food and pharmaceutical distribution. The Company operates under various grocery banners in the supermarket and discount segments. The Company operates or supplies a network of over 940 food stores under various banners, including Metro, Metro Plus, Super C, Food Basics, Adonis and Premiere Moisson, as well as approximately 260 drugstores under the Brunet, Metro Pharmacy and Drug Basics banners.
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