Loblaw Companies (TSE:L) Price Target Raised to C$72.00

Loblaw Companies (TSE:L) had its price target lifted by equities research analysts at Royal Bank Of Canada from C$68.00 to C$72.00 in a report released on Friday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 13.85% from the stock’s current price.

Several other research firms also recently weighed in on L. Desjardins upgraded Loblaw Companies from a “hold” rating to a “buy” rating and lifted their target price for the stock from C$62.00 to C$67.00 in a research report on Thursday, December 4th. TD Securities increased their target price on shares of Loblaw Companies from C$63.00 to C$65.00 in a report on Thursday, November 13th. National Bankshares upped their target price on Loblaw Companies from C$60.00 to C$61.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. CIBC increased their target price on Loblaw Companies from C$58.50 to C$67.00 in a research report on Thursday, November 13th. Finally, BMO Capital Markets increased their price target on shares of Loblaw Companies from C$57.50 to C$63.00 in a research report on Thursday, November 13th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Loblaw Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of C$89.13.

Loblaw Companies Price Performance

L traded up C$0.87 during trading hours on Friday, hitting C$63.24. The company’s stock had a trading volume of 350,699 shares, compared to its average volume of 1,080,722. Loblaw Companies has a 12 month low of C$43.32 and a 12 month high of C$63.43. The company has a current ratio of 1.29, a quick ratio of 0.68 and a debt-to-equity ratio of 166.11. The business’s 50-day moving average price is C$61.87 and its 200-day moving average price is C$94.32. The stock has a market cap of C$74.70 billion, a price-to-earnings ratio of 30.89, a P/E/G ratio of 3.23 and a beta of 0.26.

Insider Buying and Selling at Loblaw Companies

In related news, insider Kieran Barry Columb sold 40,800 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of C$59.50, for a total value of C$2,427,600.00. Following the completion of the transaction, the insider directly owned 163,696 shares in the company, valued at approximately C$9,739,912. This represents a 19.95% decrease in their ownership of the stock. Over the last three months, insiders have sold 102,044 shares of company stock valued at $6,092,002. Corporate insiders own 53.77% of the company’s stock.

Loblaw Companies Company Profile

Loblaw is one of Canada’s largest grocery, pharmacy, and general merchandise retailers, operating the most expansive store footprint in Ontario and maintaining sizable presences in provinces like Quebec and British Columbia. Key grocery banners include Loblaw, No Frills, and Maxi, while its pharmaceutical operations are the product of its 2014 acquisition of Shoppers Drug Mart. The firm carries a robust private-label assortment, with top sellers like President’s Choice and No Name. In addition to its retail operations, Loblaw oversees a financial-services business, which provides credit card services and guaranteed investment certificates, and also operates its PC Optimum loyalty program.