National Bank Financial Reiterates “C$70.00” Price Target for Loblaw Companies (TSE:L)

by · The Markets Daily

Loblaw Companies (TSE:L – Get Free Report) has been given a C$70.00 target price by equities researchers at National Bank Financial in a research report issued to clients and investors on Thursday, BayStreet reports. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s target price would suggest a potential upside of 14.10% from the company’s current price.

Other analysts also recently issued research reports about the stock. BMO Capital Markets boosted their target price on shares of Loblaw Companies from C$70.00 to C$73.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Desjardins upped their target price on Loblaw Companies from C$70.00 to C$72.00 and gave the company a “buy” rating in a research report on Friday, July 31st. TD set a C$75.00 target price on Loblaw Companies and gave the stock a “buy” rating in a research note on Thursday. Scotia lifted their price target on Loblaw Companies from C$64.00 to C$67.00 and gave the stock a “sector perform” rating in a research report on Friday, July 31st. Finally, TD Securities upgraded Loblaw Companies to a “strong-buy” rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$71.44.

Read Our Latest Stock Analysis on L

Loblaw Companies Stock Down 1.7%

Shares of L stock traded down C$1.08 during trading hours on Thursday, reaching C$61.35. 821,519 shares of the company’s stock were exchanged, compared to its average volume of 1,334,106. The stock’s 50 day moving average is C$63.16 and its 200-day moving average is C$63.12. The company has a market cap of C$70.90 billion, a price-to-earnings ratio of 26.00, a P/E/G ratio of 3.23 and a beta of 0.06. The company has a current ratio of 1.06, a quick ratio of 0.68 and a debt-to-equity ratio of 151.15. Loblaw Companies has a fifty-two week low of C$52.92 and a fifty-two week high of C$69.59.

Loblaw Companies (TSE:L – Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported C$0.66 earnings per share for the quarter. The firm had revenue of C$15.05 billion for the quarter. Loblaw Companies had a return on equity of 25.25% and a net margin of 4.32%. Analysts predict that Loblaw Companies will post 9.1225541 earnings per share for the current fiscal year.

Insider Activity at Loblaw Companies

In other news, insider Per Bank sold 39,762 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of C$62.01, for a total transaction of C$2,465,641.62. Following the sale, the insider owned 203,623 shares of the company’s stock, valued at C$12,626,662.23. This trade represents a 16.34% decrease in their position. Also, insider Mark William Henry Wilson sold 24,496 shares of the firm’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of C$62.68, for a total transaction of C$1,535,409.28. In the last 90 days, insiders sold 267,881 shares of company stock worth $16,627,713. Insiders own 53.77% of the company’s stock.

Loblaw Companies Company Profile

(Get Free Report)

Loblaw is Canada’s food and pharmacy leader, and the nation’s largest retailer. Loblaw provides Canadians with grocery, pharmacy, health and beauty, apparel, general merchandise, financial services and wireless mobile products and services. With more than 2,800 corporate franchised and Associate-owned locations, Loblaw, its franchisees and Associate-owners employ more than 220,000 full- and part-time employees, making it one of Canada’s largest private sector employers. Loblaw’s purpose – Live Life Well® – puts first the needs and well-being of Canadians who make one billion transactions annually in the company’s stores.

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