Loblaw Companies (TSE:L) Price Target Raised to C$66.00

Loblaw Companies (TSE:L) had its target price increased by National Bankshares from C$62.00 to C$66.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bankshares’ target price would indicate a potential upside of 6.87% from the stock’s current price.

A number of other equities research analysts also recently issued reports on L. TD Securities increased their price target on Loblaw Companies from C$63.00 to C$65.00 in a research report on Thursday, November 13th. Desjardins upgraded Loblaw Companies from a “hold” rating to a “buy” rating and increased their price target for the stock from C$62.00 to C$67.00 in a report on Thursday, December 4th. BMO Capital Markets increased their target price on shares of Loblaw Companies from C$57.50 to C$63.00 in a report on Thursday, November 13th. Royal Bank Of Canada raised their price objective on shares of Loblaw Companies from C$68.00 to C$72.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Finally, CIBC lifted their target price on shares of Loblaw Companies from C$58.50 to C$67.00 in a research note on Thursday, November 13th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$89.75.

Loblaw Companies Stock Up 0.2%

Shares of TSE:L traded up C$0.13 during midday trading on Wednesday, reaching C$61.76. The company had a trading volume of 362,872 shares, compared to its average volume of 1,088,872. Loblaw Companies has a 1-year low of C$43.32 and a 1-year high of C$63.44. The company has a quick ratio of 0.68, a current ratio of 1.29 and a debt-to-equity ratio of 166.11. The business’s 50 day moving average price is C$61.96 and its 200 day moving average price is C$89.08. The stock has a market cap of C$72.95 billion, a PE ratio of 30.16, a P/E/G ratio of 3.23 and a beta of 0.26.

Insider Activity at Loblaw Companies

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