Metro (TSE:MRU) Given a C$112.00 Price Target by Canadian Imperial Bank of Commerce Analysts

Metro (TSE:MRU) received a C$112.00 target price from equities researchers at Canadian Imperial Bank of Commerce in a report released on Thursday, BayStreet reports. The brokerage currently has an “outperformer” rating on the stock. Canadian Imperial Bank of Commerce‘s price target would suggest a potential upside of 14.37% from the stock’s previous close.

MRU has been the topic of several other research reports. Royal Bank Of Canada dropped their target price on shares of Metro from C$111.00 to C$110.00 and set a “sector perform” rating on the stock in a report on Thursday, August 13th. BMO Capital Markets lowered Metro from an “outperform” rating to a “hold” rating and lowered their target price for the company from C$105.00 to C$95.00 in a report on Monday, July 20th. TD Securities raised shares of Metro to a “strong-buy” rating in a research report on Wednesday, July 29th. National Bank Financial reduced their target price on Metro from C$105.00 to C$102.00 and set a “sector perform” rating for the company in a research report on Thursday, August 13th. Finally, TD upped their price target on Metro from C$106.00 to C$108.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$104.00.

Metro Stock Performance

MRU stock traded up C$2.06 during midday trading on Thursday, hitting C$97.93. 710,973 shares of the company traded hands, compared to its average volume of 562,557. Metro has a twelve month low of C$86.63 and a twelve month high of C$101.30. The stock has a market capitalization of C$20.49 billion, a price-to-earnings ratio of 23.26, a price-to-earnings-growth ratio of 4.06 and a beta of 0.12. The company has a quick ratio of 0.41, a current ratio of 1.43 and a debt-to-equity ratio of 71.09. The business has a 50 day simple moving average of C$90.49 and a 200-day simple moving average of C$91.15.

Metro (TSE:MRU) last issued its quarterly earnings data on Wednesday, August 12th. The company reported C$1.24 earnings per share for the quarter. The business had revenue of C$6.97 billion during the quarter. Metro had a net margin of 4.00% and a return on equity of 12.87%. As a group, equities research analysts predict that Metro will post 4.82 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Alain Tadros sold 960 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of C$90.27, for a total value of C$86,659.20. Following the completion of the transaction, the insider owned 5,952 shares in the company, valued at C$537,287.04. The trade was a 13.89% decrease in their position. Also, insider Simon Rivet sold 2,650 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of C$89.35, for a total value of C$236,777.50. Following the sale, the insider owned 20,225 shares of the company’s stock, valued at approximately C$1,807,103.75. The trade was a 11.58% decrease in their position. Company insiders own 0.14% of the company’s stock.

About Metro

With annual sales of more than $22 billion, METRO Inc is a food and pharmacy leader in Québec and Ontario, providing employment to more than 97,000 people. Its purpose is to Nourish the health and well-being of our communities. As a retailer, franchisor, distributor, manufacturer, and provider of eCommerce services, the company operates or services a network of some 1,000 food stores under several banners including Metro, Metro Plus, Super C, Food Basics, Adonis and Première Moisson, and some 640 pharmacies primarily under the Jean Coutu, Brunet, Metro Pharmacy and Food Basics Pharmacy banners.