Safeway Price Target Raised to $45.00 at Credit Suisse (SWY)
Equities research analysts at Credit Suisse upped their target price on shares of Safeway (NYSE:SWY) from $40.00 to $45.00 in a research note issued to investors on Friday, American Banking & Market News reports. Credit Suisse’s target price indicates a potential upside of 23.15% from the stock’s previous close.
Safeway (NYSE:SWY) traded up 1.33% during mid-day trading on Friday, hitting $36.54. The stock had a trading volume of 4,622,961 shares. Safeway has a 1-year low of $15.00 and a 1-year high of $28.88. The stock has a 50-day moving average of $25.98 and a 200-day moving average of $24.8. The company has a market cap of $8.748 billion and a price-to-earnings ratio of 19.96. Safeway also was the target of unusually large options trading activity on Wednesday. Traders acquired 42,418 call options on the company. This is an increase of 962% compared to the typical daily volume of 3,996 call options.
Safeway (NYSE:SWY) last posted its quarterly earnings results on Thursday, October 10th. The company reported $0.10 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.18 by $0.08. The company had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.53 billion. During the same quarter last year, the company posted $0.16 earnings per share. Safeway’s revenue was up 1.1% compared to the same quarter last year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Safeway in a research note to investors on Wednesday. They now have a $40.00 price target on the stock. Separately, analysts at Cantor Fitzgerald reiterated a “sell” rating on shares of Safeway in a research note to investors on Wednesday. Finally, analysts at BMO Capital Markets initiated coverage on shares of Safeway in a research note to investors on Wednesday, October 16th. They set an “outperform” rating on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. Safeway has an average rating of “Hold” and an average price target of $33.73.
In other Safeway news, EVP Diane M. Dietz unloaded 50,000 shares of Safeway stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $36.00, for a total transaction of $1,800,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Safeway Inc (NYSE:SWY) is a food and drug retailer in North America.
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