Loblaw Companies (TSE:L) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Loblaw Companies (TSE:L) had its price objective hoisted by BMO Capital Markets from C$180.00 to C$200.00 in a report released on Monday,BayStreet.CA reports. BMO Capital Markets’ price target would suggest a potential downside of 7.52% from the company’s current price.

A number of other analysts have also issued reports on L. UBS Group lowered their price target on Loblaw Companies from C$225.00 to C$210.00 in a research note on Friday, February 21st. Scotiabank raised shares of Loblaw Companies from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from C$190.00 to C$215.00 in a research note on Friday, April 11th. National Bankshares increased their target price on shares of Loblaw Companies from C$192.00 to C$207.00 in a research report on Thursday, April 10th. CIBC boosted their price target on shares of Loblaw Companies from C$206.00 to C$208.00 in a research report on Friday, February 21st. Finally, Royal Bank of Canada increased their price objective on shares of Loblaw Companies from C$215.00 to C$234.00 in a report on Monday, April 14th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$207.38.

Loblaw Companies Stock Up 0.4 %

Shares of TSE L opened at C$216.26 on Monday. The firm has a market cap of C$65.39 billion, a price-to-earnings ratio of 29.35, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17. The company’s 50-day simple moving average is C$194.15 and its 200-day simple moving average is C$186.81. The company has a quick ratio of 0.68, a current ratio of 1.29 and a debt-to-equity ratio of 166.11. Loblaw Companies has a 52-week low of C$146.49 and a 52-week high of C$217.76.

Insider Activity at Loblaw Companies

In other Loblaw Companies news, Senior Officer Kieran Barry Columb sold 11,309 shares of Loblaw Companies stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of C$186.55, for a total transaction of C$2,109,706.39. Also, Director Richard Dufresne sold 25,783 shares of the company’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. Over the last three months, insiders have sold 141,456 shares of company stock worth $25,966,244. Insiders own 53.77% of the company’s stock.

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.