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

Key Points

• National Bankshares raised its price target for Loblaw Companies from C$235.00 to C$242.00, indicating a potential upside of 9.02% from the stock's previous close.
• Multiple analysts, including UBS and TD Securities, have upgraded their price targets, with the consensus target price now set at C$244.50.
• Loblaw Companies' stock was trading slightly down at C$221.98, with a market capitalization of C$67.12 billion.
• Insider sales included 27,328 shares sold over the last ninety days, totaling approximately C$6.13 million, while corporate insiders own 53.77% of the stock.

Loblaw Companies (TSE:L - Get Free Report) had its price objective lifted by analysts at National Bankshares from C$235.00 to C$242.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. National Bankshares' price target indicates a potential upside of 9.02% from the stock's previous close.

Other equities analysts have also issued reports about the company. UBS Group increased their price objective on Loblaw Companies from C$210.00 to C$253.00 in a report on Thursday, May 1st. TD Securities increased their target price on Loblaw Companies from C$245.00 to C$250.00 and gave the company a "buy" rating in a report on Friday. CIBC increased their target price on Loblaw Companies from C$208.00 to C$234.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Desjardins upped their price target on shares of Loblaw Companies from C$230.00 to C$235.00 and gave the stock a "hold" rating in a research note on Friday. Finally, Royal Bank Of Canada increased their target price 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of C$244.50.

Loblaw Companies Stock Down 0.2%

TSE L traded down C$0.36 on Friday, hitting C$221.98. 147,795 shares of the stock traded hands, compared to its average volume of 399,201. The stock has a 50-day moving average of C$223.75 and a 200 day moving average of C$204.97. Loblaw Companies has a twelve month low of C$162.59 and a twelve month high of C$235.17. The company has a market capitalization of C$67.12 billion, a P/E ratio of 30.13, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17. The company has a current ratio of 1.29, a quick ratio of 0.68 and a debt-to-equity ratio of 166.11.

Insider Activity

In other news, Senior Officer Nicholas Henn sold 4,000 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of C$227.00, for a total transaction of C$908,000.00. Also, Senior Officer Frank Gambioli sold 1,304 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of C$213.87, for a total value of C$278,880.09. Over the last ninety days, insiders sold 27,328 shares of company stock valued at $6,132,567. Corporate 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.

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