George Weston (TSE:WN) Stock Crosses Above 200 Day Moving Average - Here's Why

Key Points

• George Weston Limited's share price crossed above its 200-day moving average, trading as high as C$87.92 before settling at C$87.50.
• Analysts have upgraded their price targets for George Weston, with estimates ranging from C$94.67 to C$107.67, reflecting strong confidence in the stock's performance.
• The company operates through two main subsidiaries, Loblaw, Canada's largest grocer, and Choice Properties, a real estate investment trust, indicating a diversified business model.

George Weston Limited (TSE:WN - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$86.25 and traded as high as C$87.92. George Weston shares last traded at C$87.50, with a volume of 288,095 shares traded.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WN. TD Securities lifted their price objective on George Weston from C$102.67 to C$104.33 and gave the company a "buy" rating in a report on Monday, July 28th. BMO Capital Markets raised their target price on shares of George Weston from C$90.33 to C$94.67 in a research report on Wednesday, July 30th. Desjardins boosted their price target on George Weston from C$100.00 to C$101.67 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Scotiabank increased their price objective on George Weston from C$95.00 to C$99.00 and gave the company a "sector perform" rating in a report on Thursday, August 21st. Finally, Royal Bank Of Canada upped their price objective on shares of George Weston from C$105.33 to C$107.67 in a research note on Wednesday, July 30th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, George Weston presently has an average rating of "Moderate Buy" and an average target price of C$101.00.

George Weston Stock Performance

The company has a quick ratio of 0.73, a current ratio of 1.32 and a debt-to-equity ratio of 372.50. The company has a fifty day moving average price of C$88.17 and a 200 day moving average price of C$86.48. The stock has a market cap of C$32.36 billion, a PE ratio of 32.84, a P/E/G ratio of 5.03 and a beta of 0.56.

George Weston Company Profile

George Weston is a holding company that operates through two subsidiaries encompassing retail and real estate. The first is Loblaw, the largest grocer in Canada, in which it has a 53% controlling stake. The second is Choice Properties, an open-ended real estate investment trust, where George Weston's ownership sits close to 62%.