Loblaw Companies (TSE:L) Stock Rating Lowered by Scotiabank

Loblaw Companies (TSE:L) was downgraded by stock analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a note issued to investors on Wednesday, MarketBeat Ratings reports. They presently have a C$200.00 price objective on the stock. Scotiabank’s price objective points to a potential upside of 8.36% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. CIBC lifted their price target on shares of Loblaw Companies from C$189.00 to C$206.00 in a research report on Thursday, November 14th. Royal Bank of Canada lifted their price objective on Loblaw Companies from C$205.00 to C$217.00 and gave the company an “outperform” rating in a report on Monday, December 9th. National Bankshares increased their target price on Loblaw Companies from C$188.00 to C$195.00 in a report on Thursday, November 14th. TD Securities dropped their price target on Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Finally, UBS Group set a C$225.00 price objective on shares of Loblaw Companies and gave the stock a “buy” rating in a research note on Friday, December 13th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Loblaw Companies currently has an average rating of “Moderate Buy” and an average target price of C$201.88.

Loblaw Companies Trading Up 0.3 %

L stock opened at C$184.57 on Wednesday. The company has a debt-to-equity ratio of 163.32, a quick ratio of 0.68 and a current ratio of 1.36. The company has a market capitalization of C$56.37 billion, a PE ratio of 27.97, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17. Loblaw Companies has a 52 week low of C$126.15 and a 52 week high of C$196.49. The company’s 50-day simple moving average is C$186.36 and its 200 day simple moving average is C$176.53.

Insiders Place Their Bets

In other Loblaw Companies news, Director Christie James Beckett Clark sold 2,105 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of C$189.69, for a total value of C$399,297.45. 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.