Loblaw Companies (TSE:L – Get Free Report) had its target price increased by analysts at CIBC from C$159.00 to C$171.00 in a research note issued to investors on Thursday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. CIBC’s price objective suggests a potential upside of 11.09% from the company’s previous close.
A number of other analysts also recently weighed in on L. Royal Bank of Canada increased their target price on shares of Loblaw Companies from C$170.00 to C$172.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Desjardins raised their price objective on shares of Loblaw Companies from C$148.00 to C$157.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Scotiabank raised 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. National Bankshares raised their price objective 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. Finally, BMO Capital Markets raised their price objective on shares of Loblaw Companies from C$130.00 to C$145.00 in a research report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Loblaw Companies has an average rating of “Moderate Buy” and an average target price of C$162.43.
Read Our Latest Stock Analysis on Loblaw Companies
Loblaw Companies Stock Performance
Loblaw Companies (TSE:L – Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported C$2.00 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.92 by C$0.08. The business had revenue of C$14.53 billion during the quarter, compared to the consensus estimate of C$14.58 billion. Loblaw Companies had a net margin of 3.53% and a return on equity of 18.96%. Research analysts anticipate that Loblaw Companies will post 8.4881297 earnings per share for the current year.
Insider Activity at Loblaw Companies
In related news, Director Willard Galen Garfield Weston sold 13,354 shares of Loblaw Companies stock in a transaction on Monday, March 4th. The shares were sold at an average price of C$145.84, for a total value of C$1,947,558.04. In related news, Director Willard Galen Garfield Weston sold 13,354 shares of Loblaw Companies stock in a transaction on Monday, March 4th. The shares were sold at an average price of C$145.84, for a total value of C$1,947,558.04. Also, Senior Officer Frank Gambioli sold 4,603 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$144.00, for a total value of C$662,832.00. In the last 90 days, insiders sold 71,495 shares of company stock valued at $10,547,163. 52.69% of the stock is owned by company insiders.
About Loblaw Companies
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.
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