National Bankshares Increases Loblaw Companies (TSE:L) Price Target to C$66.00

Loblaw Companies (TSE:L) had its price target raised by equities researchers at National Bankshares from C$62.00 to C$66.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bankshares’ price objective would suggest a potential upside of 6.55% from the company’s previous close.

Other analysts have also issued research reports about the company. Desjardins raised Loblaw Companies from a “hold” rating to a “buy” rating and boosted their target price for the company from C$62.00 to C$67.00 in a research report on Thursday, December 4th. BMO Capital Markets boosted their price objective on Loblaw Companies from C$57.50 to C$63.00 in a report on Thursday, November 13th. CIBC increased their target price on Loblaw Companies from C$58.50 to C$67.00 in a research note on Thursday, November 13th. Royal Bank Of Canada raised their target price on Loblaw Companies from C$68.00 to C$72.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Finally, TD Securities boosted their price target on shares of Loblaw Companies from C$63.00 to C$65.00 in a research note on Thursday, November 13th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$89.75.

Loblaw Companies Price Performance

Loblaw Companies stock opened at C$61.94 on Wednesday. The company’s 50 day simple moving average is C$61.95 and its 200-day simple moving average is C$88.69. The company has a debt-to-equity ratio of 166.11, a quick ratio of 0.68 and a current ratio of 1.29. Loblaw Companies has a 1 year low of C$43.32 and a 1 year high of C$63.44. The company has a market capitalization of C$73.16 billion, a price-to-earnings ratio of 30.25, a price-to-earnings-growth ratio of 3.23 and a beta of 0.26.

Insider Activity

In related news, insider Kieran Barry Columb sold 40,800 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of C$59.50, for a total transaction of C$2,427,600.00. Following the sale, the insider owned 163,696 shares in the company, valued at approximately C$9,739,912. This trade represents a 19.95% decrease in their ownership of the stock. Insiders have sold a total of 102,044 shares of company stock worth $6,092,002 over the last quarter. Corporate 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. The firm carries a robust private-label assortment, with top sellers like President’s Choice and No Name. In addition to its retail operations, Loblaw oversees a financial-services business, which provides credit card services and guaranteed investment certificates, and also operates its PC Optimum loyalty program.