Loblaw Companies (TSE:L) Price Target Raised to C$234.00 at Royal Bank of Canada

Loblaw Companies (TSE:L) had its price objective raised by equities researchers at Royal Bank of Canada from C$215.00 to C$234.00 in a research note issued to investors on Monday,BayStreet.CA reports. Royal Bank of Canada’s price target would suggest a potential upside of 10.99% from the company’s current price.

A number of other research analysts have also recently issued reports on L. CIBC increased their target price on shares of Loblaw Companies from C$206.00 to C$208.00 in a report on Friday, February 21st. TD Securities dropped 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. National Bankshares boosted their target price on Loblaw Companies from C$192.00 to C$207.00 in a research report on Thursday. UBS Group dropped their price target on Loblaw Companies from C$225.00 to C$210.00 in a research report on Friday, February 21st. Finally, Scotiabank upgraded shares of Loblaw Companies from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from C$190.00 to C$215.00 in a research report on Friday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$204.88.

Loblaw Companies Stock Performance

Shares of L stock traded up C$5.58 during mid-day trading on Monday, hitting C$210.83. The stock had a trading volume of 116,910 shares, compared to its average volume of 436,372. The firm has a market cap of C$63.74 billion, a PE ratio of 28.62, a PEG ratio of 3.23 and a beta of 0.17. The company’s 50-day simple moving average is C$189.34 and its 200-day simple moving average is C$185.10. The company has a debt-to-equity ratio of 166.11, a current ratio of 1.29 and a quick ratio of 0.68. Loblaw Companies has a fifty-two week low of C$146.49 and a fifty-two week high of C$212.01.

Insider Buying and Selling at Loblaw Companies

In related news, Director Willard Galen Garfield Weston sold 104,364 shares of Loblaw Companies stock in a transaction dated Tuesday, February 25th. The stock was 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 stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of C$186.55, for a total value of C$4,809,847.01. Insiders have sold a total of 141,456 shares of company stock valued at $25,966,244 in the last three months. Corporate 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.