Loblaw Companies (TSE:L) Given a C$81.00 Price Target at Canadian Imperial Bank of Commerce

Loblaw Companies (TSE:L) has been assigned a C$81.00 price objective by investment analysts at Canadian Imperial Bank of Commerce in a research note issued on Thursday, BayStreet reports. The firm currently has an “outperformer” rating on the stock. Canadian Imperial Bank of Commerce‘s price target points to a potential upside of 14.63% from the stock’s previous close.

Other analysts have also issued research reports about the company. Desjardins boosted 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. BMO Capital Markets raised their price target on 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. Scotia lifted their price objective on Loblaw Companies from C$64.00 to C$67.00 and gave the company a “sector perform” rating in a research note on Friday, July 31st. TD set a C$75.00 price objective on Loblaw Companies and gave the company a “buy” rating in a research note on Thursday, September 10th. Finally, TD Securities upgraded Loblaw Companies to a “strong-buy” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Loblaw Companies presently has a consensus rating of “Moderate Buy” and a consensus target price of C$73.00.

Loblaw Companies Trading Up 3.2%

Shares of Loblaw Companies stock traded up C$2.20 on Thursday, reaching C$70.66. The company had a trading volume of 1,233,077 shares, compared to its average volume of 1,329,602. The firm’s 50 day moving average price is C$62.82 and its two-hundred day moving average price is C$63.12. The firm has a market cap of C$81.65 billion, a PE ratio of 29.94, a PEG ratio of 3.23 and a beta of 0.02. Loblaw Companies has a 52-week low of C$54.44 and a 52-week high of C$71.06. The company has a debt-to-equity ratio of 151.15, a quick ratio of 0.68 and a current ratio of 1.06.

Loblaw Companies (TSE:L) last posted its quarterly earnings data 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 during the quarter. Loblaw Companies had a net margin of 4.32% and a return on equity of 25.25%. Sell-side analysts predict that Loblaw Companies will post 9.12 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Mark William Henry Wilson sold 24,496 shares of Loblaw Companies stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of C$62.68, for a total value of C$1,535,409.28. Also, insider David Markwell sold 56,240 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of C$62.07, for a total transaction of C$3,490,816.80. Over the last quarter, insiders sold 324,121 shares of company stock valued at $20,118,530. 53.77% of the stock is currently owned by company insiders.

Loblaw Companies Company Profile

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.