Royal Bank of Canada Forecasts Strong Price Appreciation for Loblaw Companies (TSE:L) Stock

Loblaw Companies (TSE:L) had its price target hoisted by research analysts at Royal Bank of Canada from C$215.00 to C$234.00 in a research note issued on Monday,BayStreet.CA reports. Royal Bank of Canada’s price objective would suggest a potential upside of 11.10% from the company’s previous close.

A number of other brokerages also recently weighed in on L. National Bankshares boosted their target price on shares of Loblaw Companies from C$192.00 to C$207.00 in a research note on Thursday, April 10th. TD Securities reduced their price objective on Loblaw Companies from C$202.00 to C$195.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Scotiabank raised Loblaw Companies from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from C$190.00 to C$215.00 in a research note on Friday, April 11th. CIBC upped their price target on Loblaw Companies from C$206.00 to C$208.00 in a research note on Friday, February 21st. Finally, UBS Group lowered their price objective on Loblaw Companies from C$225.00 to C$210.00 in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$204.88.

Loblaw Companies Price Performance

Shares of L stock opened at C$210.62 on Monday. Loblaw Companies has a 52 week low of C$146.49 and a 52 week high of C$212.01. The stock has a market capitalization of C$63.68 billion, a PE ratio of 28.59, a PEG ratio of 3.23 and a beta of 0.17. The company has a debt-to-equity ratio of 166.11, a quick ratio of 0.68 and a current ratio of 1.29. The stock’s fifty day moving average is C$190.57 and its 200-day moving average is C$185.50.

Insider Buying and Selling at Loblaw Companies

In other Loblaw Companies news, Senior Officer Kieran Barry Columb sold 11,309 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of C$186.55, for a total value of C$2,109,706.39. Also, Director Richard Dufresne sold 25,783 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of C$186.55, for a total transaction of C$4,809,847.01. Over the last quarter, insiders have sold 141,456 shares of company stock valued at $25,966,244. 53.77% of the stock is currently owned by company 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.