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

Key Points

• Canadian Imperial Bank of Commerce assigned Loblaw Companies a C$81.00 price target and an “outperformer” rating, implying 14.63% upside from the reported current price.
• Analyst sentiment is broadly positive: Loblaw has a “Moderate Buy” consensus rating and a C$73.00 average price target, based on one Strong Buy, six Buys, and two Holds.
• The stock traded at C$70.66, near its 52-week high of C$71.06. Loblaw reported quarterly revenue of C$15.05 billion and earnings of C$0.66 per share, while insiders have sold shares valued at roughly C$20.1 million over the past 90 days.

Loblaw Companies (TSE:L - Get Free Report) has been given a C$81.00 target price by equities researchers at Canadian Imperial Bank of Commerce in a research report issued on Thursday, BayStreet reports. The brokerage presently has an "outperformer" rating on the stock. Canadian Imperial Bank of Commerce's price target would indicate a potential upside of 14.63% from the stock's current price.

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, July 31st. National Bank Financial lifted their price objective on Loblaw Companies from C$70.00 to C$72.00 and gave the stock an "outperform" rating in a research report on Wednesday. Desjardins boosted their price objective on Loblaw Companies from C$70.00 to C$72.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Scotia boosted their price objective on Loblaw Companies from C$64.00 to C$67.00 and gave the stock a "sector perform" rating in a research note on Friday, July 31st. Finally, TD set a C$75.00 target price on Loblaw Companies and gave the company a "buy" rating in a report on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$73.00.

Loblaw Companies Price Performance

TSE:L traded up C$2.20 during trading hours on Thursday, hitting C$70.66. 1,233,077 shares of the stock were exchanged, compared to its average volume of 1,329,602. The firm's fifty day moving average price is C$62.82 and its 200 day moving average price is C$63.12. Loblaw Companies has a 52-week low of C$54.44 and a 52-week high of C$71.06. The company has a market cap of C$81.65 billion, a P/E ratio of 29.94, a P/E/G ratio of 3.23 and a beta of 0.02. The company has a current ratio of 1.06, a quick ratio of 0.68 and a debt-to-equity ratio of 151.15.

Loblaw Companies (TSE:L - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported C$0.66 earnings per share for the quarter. Loblaw Companies had a return on equity of 25.25% and a net margin of 4.32%. The business had revenue of C$15.05 billion for the quarter. As a group, equities research analysts anticipate that Loblaw Companies will post 9.12 EPS for the current fiscal year.

Insider Activity

In related news, insider Per Bank sold 39,762 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of C$62.01, for a total value of C$2,465,641.62. Following the completion of the transaction, the insider directly owned 203,623 shares in the company, valued at approximately C$12,626,662.23. This represents a 16.34% decrease in their ownership of the stock. Also, insider Mark William Henry Wilson sold 24,496 shares of the firm's stock in a transaction on Friday, September 4th. The stock was sold at an average price of C$62.68, for a total value of C$1,535,409.28. In the last 90 days, insiders have sold 324,121 shares of company stock valued at $20,118,530. 53.77% of the stock is currently owned by company insiders.

About Loblaw Companies

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.

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