CIBC Cuts Metro (TSE:MRU) Price Target to C$101.00

Metro (TSE:MRU) had its target price reduced by CIBC from C$105.00 to C$101.00 in a research report report published on Wednesday morning,BayStreet.CA reports. CIBC currently has a neutral rating on the stock.

Several other equities analysts have also issued reports on the company. BMO Capital Markets lowered their price target on Metro from C$115.00 to C$110.00 and set an “outperform” rating for the company in a research report on Wednesday. Scotiabank decreased their target price on shares of Metro from C$110.00 to C$103.00 and set an “outperform” rating for the company in a report on Wednesday. National Bankshares dropped their target price on shares of Metro from C$107.00 to C$106.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Royal Bank Of Canada raised their price target on shares of Metro from C$112.00 to C$113.00 and gave the company a “sector perform” rating in a research report on Friday, January 23rd. Finally, TD Securities decreased their price objective on shares of Metro from C$118.00 to C$113.00 and set a “buy” rating for the company in a report on Wednesday. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Metro has an average rating of “Hold” and a consensus target price of C$106.25.

Metro Stock Performance

Metro stock opened at C$90.39 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 1.35 and a debt-to-equity ratio of 62.29. The company has a market capitalization of C$19.27 billion, a P/E ratio of 19.52, a PEG ratio of 4.06 and a beta of 0.11. The stock’s 50 day moving average is C$98.30 and its 200 day moving average is C$98.05. Metro has a twelve month low of C$89.13 and a twelve month high of C$109.20.

Metro (TSE:MRU) last announced its quarterly earnings data on Tuesday, January 27th. The company reported C$1.16 earnings per share (EPS) for the quarter. Metro had a return on equity of 13.80% and a net margin of 4.50%.The business had revenue of C$5.29 billion during the quarter. On average, equities research analysts predict that Metro will post 4.8188614 earnings per share for the current fiscal year.

Insider Activity at Metro

In related news, insider Genevi�Ve Bich sold 4,418 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of C$91.13, for a total value of C$402,612.34. Following the sale, the insider owned 35,677 shares in the company, valued at approximately C$3,251,245.01. This trade represents a 11.02% decrease in their ownership of the stock. Also, insider Richard Pruneau sold 2,018 shares of Metro stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of C$90.87, for a total transaction of C$183,375.66. Following the completion of the sale, the insider directly owned 12,433 shares of the company’s stock, valued at approximately C$1,129,786.71. This trade represents a 13.96% decrease in their position. Company insiders own 0.14% of the company’s stock.

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. 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.