Loblaw Companies (TSE:L) Given New C$148.27 Price Target at Scotiabank

Loblaw Companies (TSE:L) had its target price upped by Scotiabank from C$146.00 to C$148.27 in a research report issued on Monday, BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s target price points to a potential downside of 1.37% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. Royal Bank of Canada boosted their target price on shares of Loblaw Companies from C$170.00 to C$172.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. BMO Capital Markets boosted their target price on shares of Loblaw Companies from C$130.00 to C$145.00 in a research note on Friday, February 23rd. TD Securities boosted their target price on shares of Loblaw Companies from C$150.00 to C$160.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Desjardins boosted their target price on shares of Loblaw Companies from C$133.00 to C$148.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, CIBC reduced their price target on shares of Loblaw Companies from C$150.00 to C$149.00 and set an “outperform” rating for the company in a research note on Friday, February 23rd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$154.04.

Loblaw Companies Price Performance

L opened at C$150.33 on Monday. The company has a 50-day moving average of C$147.29 and a 200-day moving average of C$132.16. The company has a market capitalization of C$46.49 billion, a P/E ratio of 23.06, a PEG ratio of 2.53 and a beta of 0.12. Loblaw Companies has a 1-year low of C$110.52 and a 1-year high of C$154.70. The company has a debt-to-equity ratio of 156.41, a quick ratio of 0.68 and a current ratio of 1.25.

Loblaw Companies (TSE:L) last posted its quarterly earnings results on Thursday, February 22nd. The company reported C$2.00 EPS for the quarter, beating the consensus estimate of C$1.92 by C$0.08. Loblaw Companies had a net margin of 3.53% and a return on equity of 18.96%. The business had revenue of C$14.53 billion during the quarter, compared to analyst estimates of C$14.58 billion. Equities analysts expect that Loblaw Companies will post 8.4881297 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Senior Officer Kieran Barry Columb sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of C$150.00, for a total transaction of C$1,500,000.00. In related news, Senior Officer Kieran Barry Columb sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of C$150.00, for a total transaction of C$1,500,000.00. Also, Senior Officer Robert Wayne Wiebe sold 16,583 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of C$150.00, for a total transaction of C$2,487,450.00. Insiders have sold 71,495 shares of company stock worth $10,547,163 in the last ninety days. 52.69% of the stock is currently owned by corporate insiders.

About Loblaw Companies

Loblaw Companies Limited, a food and pharmacy company, provides grocery, pharmacy and healthcare services, health and beauty products, apparels, general merchandise, financial services, and wireless mobile products and services 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.