Metro (TSE:MRU) Share Price Passes Below 200-Day Moving Average – Here’s What Happened

Metro Inc. (TSE:MRU)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$96.31 and traded as low as C$94.60. Metro shares last traded at C$95.69, with a volume of 270,225 shares changing hands.

Wall Street Analyst Weigh In

MRU has been the subject of a number of recent analyst reports. BMO Capital Markets dropped their price target on shares of Metro from C$115.00 to C$110.00 and set an “outperform” rating for the company in a research report on Wednesday, January 28th. Canadian Imperial Bank of Commerce decreased their price objective on shares of Metro from C$105.00 to C$101.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 28th. Royal Bank Of Canada lifted their target price on shares of Metro from C$112.00 to C$113.00 and gave the company a “sector perform” rating in a research note on Friday, January 23rd. National Bank Financial dropped their target price on shares of Metro from C$107.00 to C$106.00 and set a “sector perform” rating for the company in a report on Wednesday, January 28th. Finally, TD Securities cut their price target on Metro from C$118.00 to C$113.00 and set a “buy” rating for the company in a research note on Wednesday, January 28th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$106.25.

Metro Trading Up 1.2%

The company has a debt-to-equity ratio of 69.33, a current ratio of 1.42 and a quick ratio of 0.41. The stock’s 50-day moving average is C$96.09 and its two-hundred day moving average is C$96.31. The stock has a market cap of C$20.40 billion, a P/E ratio of 21.17, a price-to-earnings-growth ratio of 4.06 and a beta of 0.31.

Metro (TSE:MRU) last posted its earnings results on Tuesday, January 27th. The company reported C$1.16 earnings per share for the quarter. The company had revenue of C$5.29 billion during the quarter. Metro had a net margin of 4.44% and a return on equity of 13.93%. Equities research analysts anticipate that Metro Inc. will post 4.8188614 EPS for the current year.

Insider Transactions at Metro

In related news, insider Richard Pruneau sold 2,018 shares of the business’s stock in a transaction dated 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 sale, the insider directly owned 12,433 shares in the company, valued at approximately C$1,129,786.71. The trade was a 13.96% decrease in their ownership of the stock. Also, insider Paolo Bravi sold 2,430 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of C$91.46, for a total value of C$222,247.80. Following the completion of the sale, the insider owned 19,730 shares in the company, valued at C$1,804,505.80. This represents a 10.97% decrease in their ownership of the stock. In the last three months, insiders have sold 11,844 shares of company stock worth $1,096,119. 0.14% of the stock is currently owned by company 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.