Loblaw Companies (TSE:L) Upgraded to Outperform at Scotiabank

Loblaw Companies (TSE:L) was upgraded by equities researchers at Scotiabank from a “sector perform” rating to an “outperform” rating in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a C$215.00 price target on the stock, up from their prior price target of C$190.00. Scotiabank’s price objective points to a potential upside of 4.27% from the stock’s current price.

A number of other analysts have also issued reports on the stock. National Bankshares increased their price target on shares of Loblaw Companies from C$192.00 to C$207.00 in a research report on Thursday. TD Securities cut their target price on shares of Loblaw Companies from C$202.00 to C$195.00 and set a “buy” rating for the company in a research report on Friday, February 21st. CIBC boosted their price target on shares of Loblaw Companies from C$206.00 to C$208.00 in a report on Friday, February 21st. Finally, UBS Group cut their price objective on Loblaw Companies from C$225.00 to C$210.00 in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$202.75.

Loblaw Companies Trading Up 3.9 %

L stock traded up C$7.70 during mid-day trading on Friday, reaching C$206.19. 220,598 shares of the stock traded hands, compared to its average volume of 438,131. Loblaw Companies has a 52-week low of C$145.80 and a 52-week high of C$212.01. The stock’s fifty day moving average is C$188.84 and its 200-day moving average is C$184.86. The company has a market cap of C$62.34 billion, a P/E ratio of 27.99, a P/E/G ratio of 3.23 and a beta of 0.17. The company has a current ratio of 1.29, a quick ratio of 0.68 and a debt-to-equity ratio of 166.11.

Insider Transactions at Loblaw Companies

In related news, Director Richard Dufresne sold 25,783 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of C$186.55, for a total transaction of C$4,809,847.01. Also, Senior Officer Kieran Barry Columb sold 11,309 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of C$186.55, for a total value of C$2,109,706.39. In the last quarter, insiders have sold 141,456 shares of company stock valued at $25,966,244. 53.77% of the stock is owned by corporate insiders.

About Loblaw Companies

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.