CIBC Issues Pessimistic Forecast for George Weston (TSE:WN) Stock Price

George Weston (TSE:WN) had its price target lowered by investment analysts at CIBC from C$269.00 to C$268.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s price target would suggest a potential upside of 15.81% from the stock’s previous close.

Several other analysts have also weighed in on WN. BMO Capital Markets lifted their price objective on George Weston from C$220.00 to C$221.50 in a report on Wednesday, November 20th. Royal Bank of Canada lifted their price objective on George Weston from C$253.00 to C$266.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. TD Securities lifted their price objective on George Weston from C$242.00 to C$263.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Scotiabank lowered George Weston from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from C$240.00 to C$241.00 in a report on Thursday. Finally, Desjardins lifted their price objective on George Weston from C$232.00 to C$255.00 in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$251.42.

George Weston Stock Performance

WN opened at C$231.42 on Thursday. The firm has a market capitalization of C$30.04 billion, a P/E ratio of 46.32, a price-to-earnings-growth ratio of 5.03 and a beta of 0.42. The stock’s 50 day moving average price is C$223.45 and its two-hundred day moving average price is C$223.50. The company has a quick ratio of 0.73, a current ratio of 1.32 and a debt-to-equity ratio of 372.50. George Weston has a 12-month low of C$174.30 and a 12-month high of C$239.79.

Insider Buying and Selling

In related news, Senior Officer Rashid Wasti sold 150 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of C$235.45, for a total transaction of C$35,317.50. Also, Senior Officer Richard Dufresne sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of C$224.95, for a total value of C$2,249,513.00. Insiders sold 20,400 shares of company stock worth $4,650,687 in the last 90 days. 59.41% of the stock is owned by company insiders.

About George Weston

George Weston is a holding company that operates through two subsidiaries encompassing retail and real estate. The first is Loblaw, the largest grocer in Canada, in which it has a 53% controlling stake. The second is Choice Properties, an open-ended real estate investment trust, where George Weston’s ownership sits close to 62%.