Royal Bank Of Canada Raises Loblaw Companies (TSE:L) Price Target to C$72.00

Loblaw Companies (TSE:L) had its target price raised by investment analysts at Royal Bank Of Canada from C$68.00 to C$72.00 in a report released on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 14.36% from the stock’s current price.

Several other brokerages have also recently weighed in on L. BMO Capital Markets boosted their price target on shares of Loblaw Companies from C$57.50 to C$63.00 in a research report on Thursday, November 13th. TD Securities lifted their price objective on shares of Loblaw Companies from C$63.00 to C$65.00 in a research note on Thursday, November 13th. CIBC boosted their target price on shares of Loblaw Companies from C$58.50 to C$67.00 in a report on Thursday, November 13th. Desjardins raised shares of Loblaw Companies from a “hold” rating to a “buy” rating and increased their price target for the company from C$62.00 to C$67.00 in a report on Thursday, December 4th. Finally, National Bankshares lifted their price target on Loblaw Companies from C$60.00 to C$61.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$89.13.

Loblaw Companies Stock Performance

TSE:L opened at C$62.96 on Friday. The company has a market cap of C$74.37 billion, a price-to-earnings ratio of 30.75, a PEG ratio of 3.23 and a beta of 0.26. Loblaw Companies has a 1 year low of C$43.32 and a 1 year high of C$63.43. The stock’s 50 day simple moving average is C$61.92 and its two-hundred day simple moving average is C$92.27. The company has a debt-to-equity ratio of 166.11, a current ratio of 1.29 and a quick ratio of 0.68.

Insider Activity

In other news, insider Kieran Barry Columb sold 40,800 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider owned 163,696 shares of the company’s stock, valued at C$9,739,912. The trade was a 19.95% decrease in their ownership of the stock. Insiders have sold a total of 102,044 shares of company stock valued at $6,092,002 in the last quarter. 53.77% of the stock is owned by company insiders.

Loblaw Companies Company Profile

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.