CIBC Forecasts Strong Price Appreciation for Loblaw Companies (TSE:L) Stock

Loblaw Companies (TSE:L) had its target price raised by equities researchers at CIBC from C$208.00 to C$234.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s price target indicates a potential upside of 3.99% from the company’s current price.

Other analysts have also recently issued research reports about the company. TD Securities raised their price target on Loblaw Companies from C$195.00 to C$245.00 and gave the company a “buy” rating in a report on Thursday. National Bankshares raised their price objective on shares of Loblaw Companies from C$192.00 to C$207.00 in a research report on Thursday, April 10th. Royal Bank of Canada lifted their price objective on shares of Loblaw Companies from C$215.00 to C$234.00 in a report on Monday, April 14th. UBS Group raised their price target on Loblaw Companies from C$210.00 to C$253.00 in a research report on Thursday. Finally, Scotiabank upgraded Loblaw Companies from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from C$190.00 to C$215.00 in a research report on Friday, April 11th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$236.88.

Loblaw Companies Stock Up 0.5 %

Shares of TSE:L opened at C$225.02 on Thursday. The firm has a fifty day moving average price of C$200.62 and a two-hundred day moving average price of C$189.11. The company 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 one year low of C$152.39 and a one year high of C$226.25.

Insider Activity

In other news, Director Willard Galen Garfield Weston sold 104,364 shares of Loblaw Companies stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of C$182.50, for a total transaction of C$19,046,690.91. Also, Senior Officer Kieran Barry Columb sold 11,309 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of C$186.55, for a total transaction of C$2,109,706.39. Over the last ninety days, insiders sold 141,456 shares of company stock valued at $25,966,244. Insiders own 53.77% of the company’s stock.

About Loblaw Companies

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.