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

Key Points

• George Weston Limited (TSE:WN) shares recently crossed above the 200-day moving average, indicating a potential upward trend, with the stock trading at C$86.75.
• Multiple Wall Street analysts have raised their price targets for George Weston, with a consensus target price now at C$101.00 and a general rating of "Moderate Buy."
• The company has a market capitalization of C$33.39 billion and operates primarily through its subsidiaries, Loblaw and Choice Properties.

George Weston Limited (TSE:WN - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$87.38 and traded as high as C$88.32. George Weston shares last traded at C$86.75, with a volume of 290,134 shares.

Wall Street Analysts Forecast Growth

WN has been the subject of a number of recent research reports. TD Securities boosted their price target on shares of George Weston from C$102.67 to C$104.33 and gave the stock a "buy" rating in a research note on Monday, July 28th. BMO Capital Markets boosted their price target on shares of George Weston from C$90.33 to C$94.67 in a research note on Wednesday, July 30th. Scotiabank boosted their price objective on shares of 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. Desjardins boosted their price objective on shares of George Weston from C$100.00 to C$101.67 and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, Royal Bank Of Canada boosted their price objective on shares of George Weston from C$105.33 to C$107.67 in a report 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$101.00.

George Weston Price Performance

The company has a market cap of C$33.39 billion, a price-to-earnings ratio of 33.89, a PEG ratio of 5.03 and a beta of 0.47. 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's fifty day moving average price is C$86.71 and its two-hundred day moving average price is C$87.38.

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%.

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