Citi analyst Adrian Lemme maintained a Hold rating on Metcash Limited (MCSHF – Research Report) today and set a price target of A$4.00. The company’s shares closed last Monday at $2.26.
According to TipRanks, Lemme is a 3-star analyst with an average return of 2.2% and a 48.33% success rate. Lemme covers the Consumer Defensive sector, focusing on stocks such as Wesfarmers Limited, Metcash Limited, and Woolworths Group Ltd.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Metcash Limited with a $2.66 average price target.
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The company has a one-year high of $3.08 and a one-year low of $2.23. Currently, Metcash Limited has an average volume of 1,300.
Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MCSHF in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Metcash is a wholesale distribution and marketing company specialising in grocery, fresh produce, liquor, hardware, and other fast-moving consumer goods. Metcash has three business units: food and grocery, liquor, and hardware. Centralised wholesale distribution enables retailers to gain access to the combined scale of a large number of retailers to negotiate meaningful volume discounts.
