George Weston (TSE:WN) Shares Cross Above 200 Day Moving Average – Here’s Why

George Weston Limited (TSE:WN)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$85.65 and traded as high as C$89.03. George Weston shares last traded at C$88.24, with a volume of 360,903 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Desjardins upped their target price on shares of George Weston from C$100.00 to C$101.67 and gave the company a “buy” rating in a research note on Wednesday, July 30th. BMO Capital Markets increased their target price on shares of George Weston from C$90.33 to C$94.67 in a report on Wednesday, July 30th. Royal Bank Of Canada increased their target price on shares of George Weston from C$105.33 to C$107.67 in a report on Wednesday, July 30th. CIBC increased their price target on shares of George Weston from C$89.33 to C$98.67 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Finally, TD Securities increased their price target on shares of George Weston from C$102.67 to C$104.33 and gave the company a “buy” rating in a research note on Monday, July 28th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$101.00.

George Weston Stock Performance

The stock’s 50 day moving average price is C$88.70 and its 200 day moving average price is C$85.65. The company has a debt-to-equity ratio of 372.50, a quick ratio of 0.73 and a current ratio of 1.32. The company has a market capitalization of C$33.97 billion, a P/E ratio of 34.47, a price-to-earnings-growth ratio of 5.03 and a beta of 0.58.

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%.