Loblaw Companies (TSE:L) Price Target Raised to C$70.00

Loblaw Companies (TSE:L) had its price target lifted by investment analysts at National Bank Financial from C$67.00 to C$70.00 in a research report issued on Friday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bank Financial’s price objective would suggest a potential upside of 5.28% from the company’s current price.

A number of other research firms have also recently weighed in on L. Scotia upped their price target on Loblaw Companies from C$64.00 to C$67.00 and gave the stock a “sector perform” rating in a report on Friday. Canadian Imperial Bank of Commerce dropped their price objective on Loblaw Companies from C$75.00 to C$69.00 in a report on Thursday, May 7th. BMO Capital Markets boosted their price objective on Loblaw Companies from C$70.00 to C$73.00 and gave the company an “outperform” rating in a research report on Friday. Desjardins upped their target price on Loblaw Companies from C$70.00 to C$72.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Scotiabank downgraded Loblaw Companies from an “outperform” rating to a “hold” rating and set a C$70.00 target price for the company. in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$71.00.

Loblaw Companies Stock Performance

L traded up C$0.79 on Friday, reaching C$66.49. The stock had a trading volume of 347,725 shares, compared to its average volume of 1,336,291. Loblaw Companies has a 12-month low of C$52.92 and a 12-month high of C$69.59. The company has a current ratio of 1.09, a quick ratio of 0.68 and a debt-to-equity ratio of 153.41. The business’s 50-day moving average price is C$64.13 and its two-hundred day moving average price is C$63.58. The company has a market cap of C$77.39 billion, a P/E ratio of 28.91, a price-to-earnings-growth ratio of 3.23 and a beta of 0.13.

Loblaw Companies (TSE:L) last issued its quarterly earnings data on Thursday, July 30th. The company reported C$0.66 earnings per share for the quarter. Loblaw Companies had a net margin of 4.29% and a return on equity of 24.88%. The business had revenue of C$15.05 billion during the quarter. Sell-side analysts forecast that Loblaw Companies will post 9.1225541 earnings per share for the current year.

Insider Activity at Loblaw Companies

In other news, insider Melanie Singh sold 4,820 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of C$66.72, for a total value of C$321,590.40. Also, Director Nicholas Henn sold 10,000 shares of Loblaw Companies stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of C$67.00, for a total value of C$670,000.00. 53.77% of the stock is currently owned by insiders.

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.