Loblaw Companies (TSE:L) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Loblaw Companies (TSE:L - Get Free Report) had its price objective increased by equities researchers at Royal Bank of Canada from C$215.00 to C$234.00 in a report released on Monday,BayStreet.CA reports. Royal Bank of Canada's price target indicates a potential upside of 9.51% from the stock's current price.

Several other research analysts also recently commented on L. CIBC boosted their price objective on shares of Loblaw Companies from C$206.00 to C$208.00 in a research report on Friday, February 21st. UBS Group lowered their price target on Loblaw Companies from C$225.00 to C$210.00 in a research report on Friday, February 21st. TD Securities reduced their price objective on Loblaw Companies from C$202.00 to C$195.00 and set a "buy" rating for the company in a research note on Friday, February 21st. Scotiabank raised shares of Loblaw Companies from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from C$190.00 to C$215.00 in a research report on Friday, April 11th. Finally, National Bankshares lifted their price target on Loblaw Companies from C$192.00 to C$207.00 in a research report on Thursday, April 10th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of C$204.88.

Loblaw Companies Trading Up 0.2 %

L stock traded up C$0.34 during midday trading on Monday, reaching C$213.68. The company's stock had a trading volume of 234,736 shares, compared to its average volume of 438,424. The business's 50-day simple moving average is C$191.97 and its 200-day simple moving average is C$185.92. Loblaw Companies has a 52 week low of C$146.49 and a 52 week high of C$214.75. The stock has a market cap of C$64.61 billion, a PE ratio of 29.00, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17. The company has a quick ratio of 0.68, a current ratio of 1.29 and a debt-to-equity ratio of 166.11.

Insider Buying and Selling

In related news, Director Willard Galen Garfield Weston sold 104,364 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of C$182.50, for a total value of C$19,046,690.91. Also, Director Richard Dufresne sold 25,783 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of C$186.55, for a total transaction of C$4,809,847.01. In the last quarter, insiders sold 141,456 shares of company stock worth $25,966,244. 53.77% of the stock is owned by corporate 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.