CIBC Issues Positive Forecast for Loblaw Companies (TSE:L) Stock Price

Loblaw Companies (TSE:L) had its price target hoisted by equities research analysts at CIBC from C$206.00 to C$208.00 in a research report issued on Friday,BayStreet.CA reports. CIBC’s target price indicates a potential upside of 19.53% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. TD Securities decreased their price target on shares of Loblaw Companies from C$202.00 to C$195.00 in a research report on Friday. National Bankshares boosted their price objective on shares of Loblaw Companies from C$188.00 to C$195.00 in a research report on Thursday, November 14th. Royal Bank of Canada upped their target price on shares of Loblaw Companies from C$205.00 to C$217.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. UBS Group set a C$225.00 target price on shares of Loblaw Companies and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Scotiabank lowered shares of Loblaw Companies from an “outperform” rating to a “sector perform” rating and set a C$200.00 price objective for the company. in a research report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$199.38.

Loblaw Companies Price Performance

Shares of L stock traded down C$0.73 during mid-day trading on Friday, hitting C$174.02. 206,312 shares of the stock were exchanged, compared to its average volume of 344,366. The company has a market cap of C$52.61 billion, a PE ratio of 23.62, 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. Loblaw Companies has a 52-week low of C$138.13 and a 52-week high of C$196.49. The firm has a fifty day moving average of C$184.52 and a 200 day moving average of C$179.87.

Insider Buying and Selling

In other news, Director Christie James Beckett Clark sold 2,105 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of C$189.69, for a total transaction of C$399,297.45. Company insiders own 53.77% of the company’s stock.

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.