Desjardins Cuts Metro (TSE:MRU) Price Target to C$99.00

Metro (TSE:MRU) had its price objective reduced by Desjardins from C$105.00 to C$99.00 in a research note published on Wednesday,BayStreet.CA reports. They currently have a hold rating on the stock.

MRU has been the topic of several other reports. Royal Bank Of Canada boosted their price objective 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. Scotiabank boosted their price target on Metro from C$108.00 to C$110.00 and gave the company an “outperform” rating in a report on Thursday, November 20th. TD Securities reduced their price objective on Metro from C$118.00 to C$113.00 and set a “buy” rating for the company in a research report on Wednesday. BMO Capital Markets decreased their price objective on Metro from C$115.00 to C$110.00 in a report on Monday, November 3rd. Finally, National Bankshares cut their target price on Metro from C$107.00 to C$106.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$106.25.

Metro Price Performance

Shares of MRU opened at C$90.39 on Wednesday. The stock has a 50 day simple moving average of C$98.30 and a 200 day simple moving average of C$98.05. Metro has a 52-week low of C$89.13 and a 52-week high of C$109.20. The company has a debt-to-equity ratio of 62.29, a quick ratio of 0.41 and a current ratio of 1.35. The firm has a market capitalization of C$19.27 billion, a PE ratio of 19.52, a P/E/G ratio of 4.06 and a beta of 0.11.

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

Insider Activity at Metro

In other Metro news, insider Genevi�Ve Bich sold 4,418 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of C$91.13, for a total value of C$402,612.34. Following the completion of the transaction, the insider directly owned 35,677 shares in the company, valued at 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 the business’s 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 value of C$183,375.66. Following the transaction, the insider directly owned 12,433 shares in the company, valued at C$1,129,786.71. This trade represents a 13.96% decrease in their position. Corporate 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.