Loblaw Companies (TSE:L) had its price objective lifted by equities research analysts at CIBC from C$108.00 to C$116.00 in a note issued to investors on Friday, BayStreet.CA reports. CIBC’s target price points to a potential upside of 24.96% from the stock’s current price.
A number of other brokerages also recently weighed in on L. Scotiabank raised their target price on shares of Loblaw Companies from C$86.00 to C$104.00 in a research note on Thursday, November 18th. BMO Capital Markets raised their target price on shares of Loblaw Companies from C$85.00 to C$100.00 in a research note on Thursday, November 18th. National Bankshares raised their target price on shares of Loblaw Companies from C$92.00 to C$107.00 and gave the company an “outperform” rating in a research note on Thursday, November 18th. Cfra downgraded shares of Loblaw Companies from a “hold” rating to a “sell” rating and raised their target price for the company from C$85.00 to C$87.00 in a research note on Thursday, November 18th. Finally, Royal Bank of Canada raised their target price on shares of Loblaw Companies from C$112.00 to C$118.00 and gave the company an “outperform” rating in a research note on Thursday, November 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$104.80.
Shares of Loblaw Companies stock traded down C$0.55 during trading on Friday, reaching C$92.83. 227,605 shares of the stock were exchanged, compared to its average volume of 422,802. The company has a quick ratio of 0.71, a current ratio of 1.33 and a debt-to-equity ratio of 146.05. The stock’s fifty day moving average is C$99.90 and its 200 day moving average is C$90.99. The firm has a market cap of C$31.11 billion and a price-to-earnings ratio of 21.96. Loblaw Companies has a 1 year low of C$60.86 and a 1 year high of C$105.15.
Loblaw Companies (TSE:L) last issued its quarterly earnings data on Wednesday, November 17th. The company reported C$1.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of C$1.48 by C$0.11. The company had revenue of C$16.05 billion during the quarter, compared to analysts’ expectations of C$15.72 billion. Equities analysts forecast that Loblaw Companies will post 5.9600002 earnings per share for the current year.
In related news, Senior Officer Jocyanne C. Bourdeau sold 14,783 shares of the company’s stock in a transaction dated Wednesday, December 29th. The shares were sold at an average price of C$104.85, for a total transaction of C$1,549,999.03. Also, Director Richard Dufresne sold 6,281 shares of the company’s stock in a transaction dated Friday, December 17th. The shares were sold at an average price of C$104.43, for a total transaction of C$655,905.99. Following the transaction, the director now owns 5,884 shares in the company, valued at C$614,448.47. Over the last 90 days, insiders sold 31,064 shares of company stock worth $3,186,893.
Loblaw Companies Company Profile
Loblaw Companies Limited, a food and pharmacy company, engages in the grocery, pharmacy, health and beauty, apparel, general merchandise, financial services, and wireless mobile products and services businesses in Canada. It operates in two segments, Retail and Financial Services. The Retail segment operates corporate and franchise-owned retail food, and associate-owned drug stores.