Desjardins Raises Loblaw Companies (TSE:L) Price Target to C$72.00

Key Points

• Desjardins raised Loblaw Companies’ price target to C$72 from C$70 and maintained a “buy” rating, implying 8.29% upside from the prior close.
• Loblaw shares rose 1.2% to C$66.49, while analyst sentiment remained positive with a consensus “Moderate Buy” rating and average price target of C$71.
• The company reported quarterly revenue of C$15.05 billion and EPS of C$0.66; insiders recently sold shares, although company insiders still own 53.77% of the stock.

Loblaw Companies (TSE:L - Get Free Report) had its target price upped by stock analysts at Desjardins from C$70.00 to C$72.00 in a report released on Friday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Desjardins' price target points to a potential upside of 8.29% from the stock's previous close.

L has been the subject of a number of other reports. Canadian Imperial Bank of Commerce lowered their price target on Loblaw Companies from C$75.00 to C$69.00 in a report on Thursday, May 7th. Scotia raised their price objective on shares of Loblaw Companies from C$64.00 to C$67.00 and gave the stock a "sector perform" rating in a report on Friday. Scotiabank cut shares of Loblaw Companies from an "outperform" rating to a "hold" rating and set a C$70.00 target price for the company. in a report on Thursday, April 9th. TD Securities raised shares of Loblaw Companies to a "strong-buy" rating in a research report on Wednesday. Finally, BMO Capital Markets upgraded shares of Loblaw Companies from a "hold" rating to an "outperform" rating and lifted their price target for the stock from C$68.00 to C$70.00 in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Loblaw Companies presently has a consensus rating of "Moderate Buy" and a consensus price target of C$71.00.

Loblaw Companies Stock Up 1.2%

TSE L traded up C$0.79 during trading on Friday, reaching C$66.49. 347,725 shares of the company's stock were exchanged, compared to its average volume of 1,336,291. The stock has a market cap of C$77.39 billion, a P/E ratio of 28.91, a price-to-earnings-growth ratio of 3.23 and a beta of 0.13. The company has a debt-to-equity ratio of 153.41, a quick ratio of 0.68 and a current ratio of 1.09. The company has a 50 day moving average price of C$64.13 and a two-hundred day moving average price of C$63.58. Loblaw Companies has a 1 year low of C$52.92 and a 1 year high of C$69.59.

Loblaw Companies (TSE:L - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported C$0.66 EPS for the quarter. Loblaw Companies had a return on equity of 24.88% and a net margin of 4.29%.The business had revenue of C$15.05 billion for the quarter. On average, equities research analysts anticipate that Loblaw Companies will post 9.1225541 EPS for the current fiscal year.

Insider Buying and Selling

In other Loblaw Companies news, Director Nicholas Henn sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of C$67.00, for a total value of C$670,000.00. Also, insider Melanie Singh sold 4,820 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of C$66.72, for a total value of C$321,590.40. Company 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. The firm carries a robust private-label assortment, with top sellers like President's Choice and No Name. In addition to its retail operations, Loblaw oversees a financial-services business, which provides credit card services and guaranteed investment certificates, and also operates its PC Optimum loyalty program.

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