Loblaw Companies (TSE:L) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Loblaw Companies (TSE:L) had its target price lifted by equities research analysts at Royal Bank of Canada from C$215.00 to C$234.00 in a report released on Monday,BayStreet.CA reports. Royal Bank of Canada’s target price would indicate a potential upside of 11.10% from the stock’s previous close.

A number of other brokerages also recently weighed in on L. TD Securities lowered their price objective on shares of Loblaw Companies from C$202.00 to C$195.00 and set a “buy” rating for the company in a research report on Friday, February 21st. UBS Group dropped their price target on Loblaw Companies from C$225.00 to C$210.00 in a research report on Friday, February 21st. National Bankshares raised their price target on Loblaw Companies from C$192.00 to C$207.00 in a report on Thursday, April 10th. CIBC upped their price objective on Loblaw Companies from C$206.00 to C$208.00 in a research note on Friday, February 21st. Finally, Scotiabank upgraded Loblaw Companies from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$190.00 to C$215.00 in a research note on Friday, April 11th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$204.88.

Loblaw Companies Trading Up 0.2 %

TSE L opened at C$210.62 on Monday. The company’s fifty day moving average price is C$190.57 and its two-hundred day moving average price is C$185.50. The company has a market capitalization of C$63.68 billion, a price-to-earnings ratio of 28.59, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17. Loblaw Companies has a 12 month low of C$146.49 and a 12 month high of C$212.01. The company has a debt-to-equity ratio of 166.11, a current ratio of 1.29 and a quick ratio of 0.68.

Insider Activity at Loblaw Companies

In other news, Senior Officer Kieran Barry Columb sold 11,309 shares of the business’s 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 Loblaw Companies stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of C$186.55, for a total value of C$4,809,847.01. In the last three months, insiders have sold 141,456 shares of company stock worth $25,966,244. 53.77% of the stock is 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.