Loblaw Companies (TSE:L) Price Target Raised to C$171.00

Loblaw Companies (TSE:L) had its target price boosted by CIBC from C$159.00 to C$171.00 in a report released on Thursday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. CIBC’s target price indicates a potential upside of 10.65% from the stock’s current price.

Several other equities research analysts have also commented on the stock. BMO Capital Markets boosted their target price on shares of Loblaw Companies from C$130.00 to C$145.00 in a research report on Friday, February 23rd. National Bankshares boosted their target price on shares of Loblaw Companies from C$156.00 to C$159.00 and gave the stock an “outperform” rating in a research report on Thursday. Royal Bank of Canada boosted their target price on shares of Loblaw Companies from C$170.00 to C$172.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. TD Securities boosted their target price on shares of Loblaw Companies from C$150.00 to C$160.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Finally, Scotiabank boosted their price objective on shares of Loblaw Companies from C$146.00 to C$148.27 and gave the stock a “sector perform” rating in a research report on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$160.71.

Loblaw Companies Stock Performance

Shares of Loblaw Companies stock traded up C$1.70 during trading on Thursday, reaching C$154.54. The company’s stock had a trading volume of 137,704 shares, compared to its average volume of 361,916. The company has a 50-day moving average price of C$149.05 and a two-hundred day moving average price of C$133.58. The firm has a market cap of C$47.79 billion, a PE ratio of 23.69, a P/E/G ratio of 2.53 and a beta of 0.12. Loblaw Companies has a fifty-two week low of C$110.52 and a fifty-two week high of C$155.01. The company has a current ratio of 1.25, a quick ratio of 0.68 and a debt-to-equity ratio of 156.41.

Loblaw Companies (TSE:L) last announced its quarterly earnings data on Thursday, February 22nd. The company reported C$2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.92 by C$0.08. The company had revenue of C$14.53 billion for the quarter, compared to analysts’ expectations of C$14.58 billion. Loblaw Companies had a net margin of 3.53% and a return on equity of 18.96%. On average, analysts forecast that Loblaw Companies will post 8.4881297 EPS for the current year.

Insider Buying and Selling

In related news, Senior Officer Robert Wayne Wiebe sold 16,583 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of C$150.00, for a total value of C$2,487,450.00. In other news, Senior Officer Frank Gambioli sold 4,603 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of C$144.00, for a total transaction of C$662,832.00. Also, Senior Officer Robert Wayne Wiebe sold 16,583 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of C$150.00, for a total transaction of C$2,487,450.00. Insiders have sold 71,495 shares of company stock worth $10,547,163 in the last three months. Corporate insiders own 52.69% of the company’s stock.

Loblaw Companies Company Profile

Loblaw Companies Limited, a food and pharmacy company, provides grocery, pharmacy and healthcare services, health and beauty products, apparels, general merchandise, financial services, and wireless mobile products and services in Canada. It operates in two segments, Retail and Financial Services. The Retail segment operates corporate and franchise-owned retail food, and associate-owned drug stores.