BMO Capital Markets Cuts Metro (TSE:MRU) Price Target to C$110.00

Metro (TSE:MRU) had its target price reduced by BMO Capital Markets from C$115.00 to C$110.00 in a research note issued to investors on Wednesday morning,BayStreet.CA reports. BMO Capital Markets currently has an outperform rating on the stock.

MRU has been the subject of several other reports. Royal Bank Of Canada lifted their price target on 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. TD Securities cut their target price on Metro from C$118.00 to C$113.00 and set a “buy” rating for the company in a research note on Wednesday. Scotiabank reduced their target price on Metro from C$110.00 to C$103.00 and set an “outperform” rating for the company in a report on Wednesday. National Bankshares decreased their price target on Metro from C$107.00 to C$106.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Finally, Desjardins lowered their price target on shares of Metro from C$105.00 to C$99.00 and set a “hold” rating on the stock in a report on Wednesday. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Metro currently has a consensus rating of “Hold” and an average target price of C$106.25.

Metro Stock Performance

Shares of MRU stock opened at C$90.39 on Wednesday. The firm’s 50 day moving average is C$98.30 and its 200 day moving average is C$98.05. The stock 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. Metro has a 12 month low of C$89.13 and a 12 month high of C$109.20. The company has a current ratio of 1.35, a quick ratio of 0.41 and a debt-to-equity ratio of 62.29.

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

Insider Activity

In related news, insider Genevi�Ve Bich sold 4,418 shares of the company’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 transaction, the insider directly owned 35,677 shares in the company, valued at approximately C$3,251,245.01. This represents a 11.02% decrease in their ownership of the stock. Also, insider Richard Pruneau sold 2,018 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$90.87, for a total transaction of C$183,375.66. Following the completion of the sale, the insider directly owned 12,433 shares in the company, valued at C$1,129,786.71. This represents a 13.96% decrease in their ownership of the stock. 0.14% of the stock is currently owned by insiders.

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.