Loblaw Companies (TSE:L) Stock Price Expected to Rise, CIBC Analyst Says

Loblaw Companies (TSE:L) had its target price increased by research analysts at CIBC from C$206.00 to C$208.00 in a research note issued to investors on Friday,BayStreet.CA reports. CIBC’s price objective would indicate a potential upside of 19.53% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. TD Securities reduced their target price on shares of Loblaw Companies from C$202.00 to C$195.00 in a research note on Friday. Royal Bank of Canada lifted their target price on shares of Loblaw Companies from C$205.00 to C$217.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Scotiabank downgraded shares of Loblaw Companies from an “outperform” rating to a “sector perform” rating and set a C$200.00 target price for the company. in a research note on Wednesday, January 8th. National Bankshares boosted their price objective on shares of Loblaw Companies from C$188.00 to C$195.00 in a research note on Thursday, November 14th. Finally, Desjardins boosted their price objective on shares of Loblaw Companies from C$172.00 to C$190.00 in a research note on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Loblaw Companies currently has an average rating of “Moderate Buy” and a consensus price target of C$199.38.

Loblaw Companies Stock Performance

Shares of L traded down C$0.73 during trading hours on Friday, hitting C$174.02. The company’s stock had a trading volume of 206,312 shares, compared to its average volume of 344,366. The company has a market cap of C$52.61 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 3.23 and a beta of 0.17. The company has a debt-to-equity ratio of 166.11, a current ratio of 1.29 and a quick ratio of 0.68. The business has a 50 day simple moving average of C$184.52 and a two-hundred day simple moving average of C$179.87. Loblaw Companies has a 52-week low of C$138.13 and a 52-week high of C$196.49.

Insiders Place Their Bets

In other Loblaw Companies news, Director Christie James Beckett Clark sold 2,105 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of C$189.69, for a total transaction of C$399,297.45. 53.77% of the stock is owned by company 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.