Loblaw Companies (TSE:L) Given New C$73.00 Price Target at BMO Capital Markets

Loblaw Companies (TSE:L) had its price objective lifted by equities researchers at BMO Capital Markets from C$70.00 to C$73.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective points to a potential upside of 9.79% from the company’s current price.

Several other research analysts have also issued reports on the stock. TD Securities raised shares of Loblaw Companies to a “strong-buy” rating in a research note on Wednesday. Scotia lifted their price target on shares of Loblaw Companies from C$64.00 to C$67.00 and gave the company a “sector perform” rating in a research note on Friday. Canadian Imperial Bank of Commerce dropped their price objective on shares of Loblaw Companies from C$75.00 to C$69.00 in a report on Thursday, May 7th. Desjardins increased their price objective on shares of Loblaw Companies from C$70.00 to C$72.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Scotiabank downgraded Loblaw Companies from an “outperform” rating to a “hold” rating and set a C$70.00 target price for the company. in a research note on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$71.00.

Loblaw Companies Trading Up 1.2%

TSE L traded up C$0.79 during trading hours on Friday, reaching C$66.49. The company’s stock had a trading volume of 347,725 shares, compared to its average volume of 1,336,291. The firm has a fifty day simple moving average of C$64.13 and a 200-day simple moving average of C$63.58. The stock has a market cap of C$77.39 billion, a P/E ratio of 28.91, a P/E/G ratio of 3.23 and a beta of 0.13. Loblaw Companies has a 52 week low of C$52.92 and a 52 week high of C$69.59. The company has a debt-to-equity ratio of 153.41, a current ratio of 1.09 and a quick ratio of 0.68.

Loblaw Companies (TSE:L) last announced its earnings results on Thursday, July 30th. The company reported C$0.66 earnings per share (EPS) for the quarter. Loblaw Companies had a return on equity of 24.88% and a net margin of 4.29%.The business had revenue of C$15.05 billion during the quarter. Equities analysts forecast that Loblaw Companies will post 9.1225541 earnings per share for the current fiscal year.

Insider Transactions at Loblaw Companies

In other Loblaw Companies news, insider Melanie Singh sold 4,820 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of C$66.72, for a total value of C$321,590.40. Also, Director Nicholas Henn sold 10,000 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of C$67.00, for a total value of C$670,000.00. 53.77% of the stock is owned by 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.