National Bankshares Forecasts Strong Price Appreciation for Loblaw Companies (TSE:L) Stock

Loblaw Companies (TSE:L - Get Free Report) had its price target boosted by analysts at National Bankshares from C$234.00 to C$235.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. National Bankshares' price objective would suggest a potential upside of 6.03% from the stock's current price.

Several other equities analysts also recently commented on the stock. BMO Capital Markets boosted their target price on shares of Loblaw Companies from C$200.00 to C$220.00 in a report on Thursday, May 1st. Scotiabank boosted their target price on shares of Loblaw Companies from C$215.00 to C$245.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Desjardins boosted their target price on shares of Loblaw Companies from C$185.00 to C$230.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. TD Securities boosted their target price on shares of Loblaw Companies from C$195.00 to C$245.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, UBS Group boosted their target price on shares of Loblaw Companies from C$210.00 to C$253.00 in a report on Thursday, May 1st. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$237.00.

Loblaw Companies Stock Performance

TSE L traded down C$1.60 during trading hours on Wednesday, hitting C$221.63. 289,926 shares of the company's stock traded hands, compared to its average volume of 403,497. The business's fifty day moving average price is C$223.72 and its two-hundred day moving average price is C$203.10. 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 firm has a market capitalization of C$67.01 billion, a P/E ratio of 30.08, a P/E/G ratio of 3.23 and a beta of 0.17. Loblaw Companies has a 52 week low of C$162.59 and a 52 week high of C$235.17.

Insiders Place Their Bets

In related news, Senior Officer Jeffrey Francis Leger sold 3,400 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of C$230.50, for a total value of C$783,700.00. Also, Senior Officer Kieran Barry Columb sold 500 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of C$213.87, for a total transaction of C$106,932.55. In the last ninety days, insiders sold 27,328 shares of company stock worth $6,132,567. Insiders own 53.77% of the company's stock.

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.