National Bankshares Increases Loblaw Companies (TSE:L) Price Target to C$120.00

Loblaw Companies (TSE:LGet Rating) had its price target hoisted by equities research analysts at National Bankshares from C$119.00 to C$120.00 in a report released on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bankshares’ price target would indicate a potential upside of 1.88% from the stock’s current price.

Other equities analysts have also issued reports about the stock. ATB Capital increased their price objective on shares of Loblaw Companies from C$105.00 to C$115.00 and gave the company an “outperform” rating in a research report on Friday, February 25th. TD Securities increased their price target on shares of Loblaw Companies from C$115.00 to C$125.00 and gave the company a “buy” rating in a report on Tuesday, March 15th. Scotiabank boosted their price objective on Loblaw Companies from C$112.00 to C$116.00 in a report on Tuesday, March 15th. Desjardins increased their target price on Loblaw Companies from C$105.00 to C$110.00 in a research note on Friday, February 25th. Finally, CIBC lifted their price objective on shares of Loblaw Companies from C$116.00 to C$120.00 and gave the stock an “outperform” rating in a research note on Friday, February 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$110.40.

Loblaw Companies stock traded up C$1.73 during midday trading on Wednesday, reaching C$117.79. 314,469 shares of the company’s stock were exchanged, compared to its average volume of 550,949. The stock’s 50-day simple moving average is C$110.46 and its 200 day simple moving average is C$102.20. The firm has a market cap of C$39.29 billion and a price-to-earnings ratio of 21.63. The company has a debt-to-equity ratio of 141.04, a quick ratio of 0.78 and a current ratio of 1.37. Loblaw Companies has a 52 week low of C$67.74 and a 52 week high of C$119.35.

Loblaw Companies (TSE:LGet Rating) last issued its earnings results on Thursday, February 24th. The company reported C$1.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of C$1.37 by C$0.15. The business had revenue of C$12.76 billion for the quarter, compared to the consensus estimate of C$12.63 billion. Research analysts forecast that Loblaw Companies will post 6.85 earnings per share for the current year.

In other Loblaw Companies news, Director Willard Galen Garfield Weston sold 16,849 shares of Loblaw Companies stock in a transaction dated Monday, February 28th. The stock was sold at an average price of C$98.88, for a total value of C$1,666,054.39. Following the transaction, the director now owns 183,636 shares in the company, valued at C$18,158,203.13. Also, Director Alannah Elizabeth Weston sold 10,000 shares of the stock in a transaction dated Wednesday, March 23rd. The stock was sold at an average price of C$110.61, for a total transaction of C$1,106,098.00. Following the completion of the transaction, the director now directly owns 30,000 shares of the company’s stock, valued at approximately C$3,318,294. Insiders have sold a total of 94,896 shares of company stock worth $9,562,160 in the last quarter.

About Loblaw Companies (Get Rating)

Loblaw Companies Limited, a food and pharmacy company, engages in the grocery, pharmacy, health and beauty, apparel, general merchandise, financial services, and wireless mobile products and services businesses 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.

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