National Bank Financial Forecasts Strong Price Appreciation for Loblaw Companies (TSE:L) Stock

Loblaw Companies (TSE:L) had its target price increased by equities researchers at National Bank Financial from C$67.00 to C$70.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bank Financial’s price objective indicates a potential upside of 5.28% from the company’s previous close.

L has been the subject of a number of other reports. BMO Capital Markets upped their price target on Loblaw Companies from C$70.00 to C$73.00 and gave the company an “outperform” rating in a research report on Friday. Scotiabank lowered Loblaw Companies from an “outperform” rating to a “hold” rating and set a C$70.00 price target on the stock. in a research note on Thursday, April 9th. Scotia upped their price objective on shares of Loblaw Companies from C$64.00 to C$67.00 and gave the stock a “sector perform” rating in a report on Friday. Canadian Imperial Bank of Commerce cut their target price on Loblaw Companies from C$75.00 to C$69.00 in a research report on Thursday, May 7th. Finally, TD Securities upgraded Loblaw Companies to a “strong-buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$71.00.

Loblaw Companies Price Performance

TSE L traded up C$0.79 during trading hours on Friday, hitting C$66.49. 347,725 shares of the company’s stock traded hands, compared to its average volume of 1,336,291. Loblaw Companies has a 52-week low of C$52.92 and a 52-week high of C$69.59. The company has a market capitalization of C$77.39 billion, a PE ratio of 28.91, a PEG ratio of 3.23 and a beta of 0.13. The company has a debt-to-equity ratio of 153.41, a current ratio of 1.09 and a quick ratio of 0.68. The firm’s 50-day moving average is C$64.13 and its 200-day moving average is C$63.58.

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

Insider Activity

In related news, insider Melanie Singh sold 4,820 shares of Loblaw Companies stock in a transaction that occurred on Tuesday, June 9th. The shares were 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 company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of C$67.00, for a total transaction of C$670,000.00. 53.77% of the stock is currently owned by corporate 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.