Loblaw Companies (TSE:L) Upgraded at Scotiabank

Loblaw Companies (TSE:L) was upgraded by equities research analysts at Scotiabank to a “strong-buy” rating in a research note issued on Friday,Zacks.com reports.

A number of other brokerages also recently issued reports on L. Royal Bank of Canada raised their price target on shares of Loblaw Companies from C$205.00 to C$217.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Desjardins lifted their target price on Loblaw Companies from C$172.00 to C$190.00 in a research report on Thursday, November 14th. National Bankshares upped their target price on shares of Loblaw Companies from C$188.00 to C$195.00 in a research report on Thursday, November 14th. UBS Group set a C$225.00 price objective on shares of Loblaw Companies and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, CIBC upped their price target on Loblaw Companies from C$189.00 to C$206.00 in a research note on Thursday, November 14th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Loblaw Companies has a consensus rating of “Buy” and an average price target of C$197.00.

Loblaw Companies Stock Up 0.0 %

Shares of L opened at C$191.14 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.36 and a debt-to-equity ratio of 163.32. Loblaw Companies has a 52-week low of C$125.66 and a 52-week high of C$196.49. The stock has a fifty day simple moving average of C$184.00 and a two-hundred day simple moving average of C$174.41. The company has a market capitalization of C$58.37 billion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17.

Insider Transactions at Loblaw Companies

In related news, Director Christie James Beckett Clark sold 2,105 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of C$189.69, for a total value of C$399,297.45. Corporate insiders own 53.77% of the company’s stock.

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.