BMO Capital Markets Forecasts Strong Price Appreciation for Loblaw Companies (TSE:L) Stock

Loblaw Companies (TSE:L) had its price target boosted by equities researchers at BMO Capital Markets from C$200.00 to C$220.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. BMO Capital Markets’ price target would suggest a potential downside of 2.23% from the stock’s current price.

Several other analysts have also weighed in on L. CIBC upped their price objective on Loblaw Companies from C$206.00 to C$208.00 in a report on Friday, February 21st. Royal Bank of Canada upped their price target on shares of Loblaw Companies from C$215.00 to C$234.00 in a report on Monday, April 14th. TD Securities lowered their price objective on shares of Loblaw Companies from C$202.00 to C$195.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. National Bankshares increased their target price on shares of Loblaw Companies from C$192.00 to C$207.00 in a research note on Thursday, April 10th. Finally, UBS Group raised their target price on shares of Loblaw Companies from C$210.00 to C$253.00 in a report on Thursday. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$236.88.

Loblaw Companies Price Performance

Shares of TSE:L opened at C$225.02 on Thursday. The stock has a market cap of C$68.03 billion, a price-to-earnings ratio of 30.54, 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. Loblaw Companies has a 12 month low of C$152.39 and a 12 month high of C$226.25. The stock’s 50 day moving average price is C$200.62 and its 200 day moving average price is C$189.11.

Insider Activity

In related news, Director Willard Galen Garfield Weston sold 104,364 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of C$182.50, for a total value of C$19,046,690.91. Also, Director Richard Dufresne sold 25,783 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 value of C$4,809,847.01. Insiders have sold 141,456 shares of company stock worth $25,966,244 over the last 90 days. 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.