In a report released today, Michael Simotas from Jefferies maintained a Buy rating on Metcash Limited (MCSHF – Research Report), with a price target of A$4.30. The company’s shares closed last Thursday at $2.30.
According to TipRanks, Simotas is a 3-star analyst with an average return of 3.7% and a 59.09% success rate. Simotas covers the Consumer Cyclical sector, focusing on stocks such as Wesfarmers Limited, Domino’s Pizza Enterprises Limited, and Harvey Norman Holdings Ltd.
In addition to Jefferies, Metcash Limited also received a Buy from UBS’s Shaun Cousins in a report issued today. However, yesterday, Goldman Sachs maintained a Hold rating on Metcash Limited (Other OTC: MCSHF).
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MCSHF market cap is currently $2.75B and has a P/E ratio of 13.37.
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 Limited (MCSHF) Company Description:
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.
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