Loblaw Companies (TSE:L) Price Target Raised to C$250.00 at TD Securities

Key Points

• TD Securities has raised Loblaw Companies' target price from C$245.00 to C$250.00, indicating a potential upside of 12.62%.
• Multiple research firms have also increased their price targets for Loblaw, with Royal Bank of Canada raising theirs to C$267.00 and UBS Group to C$253.00.
• Insider transactions show significant selling, with executives selling 27,328 shares worth over $6 million in the last three months.
• Loblaw Companies operates major grocery banners like No Frills and Maxi, and has a market cap of C$67.12 billion.

Loblaw Companies (TSE:L - Get Free Report) had its target price boosted by equities researchers at TD Securities from C$245.00 to C$250.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. TD Securities' target price suggests a potential upside of 12.62% from the stock's current price.

Several other research firms have also recently weighed in on L. CIBC upped their price objective on shares of Loblaw Companies from C$208.00 to C$234.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. BMO Capital Markets upped their target price on Loblaw Companies from C$200.00 to C$220.00 in a report on Thursday, May 1st. Scotiabank increased their price target on Loblaw Companies from C$215.00 to C$245.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. UBS Group increased their target price on Loblaw Companies from C$210.00 to C$253.00 in a report on Thursday, May 1st. Finally, Royal Bank Of Canada raised their price objective on Loblaw Companies from C$234.00 to C$267.00 in a research note on Monday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of C$244.50.

Loblaw Companies Price Performance

L stock traded down C$0.36 on Friday, hitting C$221.98. 147,795 shares of the company's stock traded hands, compared to its average volume of 399,201. The company has a current ratio of 1.29, a quick ratio of 0.68 and a debt-to-equity ratio of 166.11. The stock has a market cap of C$67.12 billion, a price-to-earnings ratio of 30.13, a P/E/G ratio of 3.23 and a beta of 0.17. Loblaw Companies has a 1-year low of C$162.59 and a 1-year high of C$235.17. The stock has a fifty day moving average of C$223.75 and a 200-day moving average of C$204.97.

Insider Transactions at Loblaw Companies

In other Loblaw Companies news, Senior Officer Per Bank sold 13,924 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of C$223.00, for a total transaction of C$3,105,054.78. Also, Senior Officer Frank Gambioli sold 1,304 shares of the company's 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$278,880.09. Insiders have sold a total of 27,328 shares of company stock worth $6,132,567 over the last three months. 53.77% of the stock is currently owned by company insiders.

Loblaw Companies Company Profile

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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