BMO Capital Markets Raises Loblaw Companies (TSE:L) Price Target to C$230.00

Key Points

• BMO Capital Markets raised its price target for Loblaw Companies from C$220.00 to C$230.00, indicating a potential upside of 3.61% from the previous close.
• Other analysts have also increased their price targets, with TD Securities setting it at C$250.00 and UBS Group at C$253.00, both giving Loblaw a "buy" rating.
• The company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$244.50, reflecting positive market sentiment.
• Insider selling has been notable, with senior officers selling over 27,000 shares valued at approximately C$6.13 million in the last 90 days.

Loblaw Companies (TSE:L - Get Free Report) had its price target boosted by investment analysts at BMO Capital Markets from C$220.00 to C$230.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has a "market perform" rating on the stock. BMO Capital Markets' price objective points to a potential upside of 3.61% from the company's previous close.

Several other analysts also recently weighed in on L. TD Securities boosted their price objective on Loblaw Companies from C$245.00 to C$250.00 and gave the company a "buy" rating in a research report on Friday. UBS Group boosted their price objective on Loblaw Companies from C$210.00 to C$253.00 in a research report on Thursday, May 1st. Scotiabank boosted their price objective on Loblaw Companies from C$215.00 to C$245.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Desjardins upped their target price on Loblaw Companies from C$230.00 to C$235.00 and gave the company a "hold" rating in a report on Friday. Finally, National Bankshares upped their target price on Loblaw Companies from C$234.00 to C$235.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$244.50.

Loblaw Companies Price Performance

TSE:L traded down C$0.36 during mid-day trading on Friday, reaching C$221.98. The stock had a trading volume of 147,795 shares, compared to its average volume of 399,201. The firm has a 50 day moving average price of C$223.75 and a two-hundred day moving average price of C$204.97. The stock has a market capitalization of C$67.12 billion, a P/E ratio of 30.13, a P/E/G ratio of 3.23 and a beta of 0.17. Loblaw Companies has a one year low of C$162.59 and a one year high of C$235.17. The company has a debt-to-equity ratio of 166.11, a quick ratio of 0.68 and a current ratio of 1.29.

Insider Transactions at Loblaw Companies

In other news, Senior Officer Kieran Barry Columb sold 500 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of C$213.87, for a total value of C$106,932.55. Also, Senior Officer Jeffrey Francis Leger sold 3,400 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of C$230.50, for a total value of C$783,700.00. In the last 90 days, insiders sold 27,328 shares of company stock valued at $6,132,567. 53.77% of the stock is currently owned by corporate insiders.

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.

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