Loblaw Companies (TSE:L) Given New C$66.00 Price Target at National Bankshares

Loblaw Companies (TSE:L) had its target price upped by equities researchers at National Bankshares from C$62.00 to C$66.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bankshares’ price objective suggests a potential upside of 6.87% from the company’s previous close.

L has been the topic of a number of other research reports. BMO Capital Markets boosted their price objective on Loblaw Companies from C$57.50 to C$63.00 in a research note on Thursday, November 13th. Royal Bank Of Canada upped their price target on Loblaw Companies from C$68.00 to C$72.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. TD Securities increased their price objective on shares of Loblaw Companies from C$63.00 to C$65.00 in a research report on Thursday, November 13th. Desjardins raised shares of Loblaw Companies from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$62.00 to C$67.00 in a research report on Thursday, December 4th. Finally, CIBC upped their target price on shares of Loblaw Companies from C$58.50 to C$67.00 in a research note on Thursday, November 13th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$89.75.

Loblaw Companies Trading Up 0.2%

Shares of L traded up C$0.13 during mid-day trading on Wednesday, reaching C$61.76. The company had a trading volume of 362,872 shares, compared to its average volume of 1,088,872. Loblaw Companies has a fifty-two week low of C$43.32 and a fifty-two week high of C$63.44. The firm has a fifty day simple moving average of C$61.96 and a 200-day simple moving average of C$89.08. The stock has a market cap of C$72.95 billion, a price-to-earnings ratio of 30.16, a price-to-earnings-growth ratio of 3.23 and a beta of 0.26. The company has a current ratio of 1.29, a quick ratio of 0.68 and a debt-to-equity ratio of 166.11.

Insider Buying and Selling at Loblaw Companies

In related news, insider Kieran Barry Columb sold 40,800 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of C$59.50, for a total value of C$2,427,600.00. Following the completion of the transaction, the insider directly owned 163,696 shares of the company’s stock, valued at C$9,739,912. This represents a 19.95% decrease in their position. Over the last 90 days, insiders have sold 102,044 shares of company stock valued at $6,092,002. 53.77% of the stock is owned by company insiders.

About Loblaw Companies

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.