Loblaw Companies (TSE:L) Given New C$68.00 Price Target at BMO Capital Markets

Loblaw Companies (TSE:L) had its price objective upped by equities research analysts at BMO Capital Markets from C$63.00 to C$68.00 in a note issued to investors on Monday,BayStreet.CA reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential downside of 1.18% from the company’s current price.

A number of other research firms have also recently commented on L. Royal Bank Of Canada increased their target price on shares of Loblaw Companies from C$68.00 to C$72.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. TD Securities upped their price objective on shares of Loblaw Companies from C$63.00 to C$65.00 in a research report on Thursday, November 13th. National Bank Financial raised their target price on shares of Loblaw Companies from C$62.00 to C$66.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. Desjardins raised shares of Loblaw Companies from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$62.00 to C$67.00 in a research note on Thursday, December 4th. Finally, Canadian Imperial Bank of Commerce increased their price target on Loblaw Companies from C$58.50 to C$67.00 in a research note on Thursday, November 13th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Loblaw Companies presently has a consensus rating of “Moderate Buy” and a consensus target price of C$91.63.

Loblaw Companies Price Performance

Shares of L stock traded up C$1.55 during trading hours on Monday, reaching C$68.81. The company’s stock had a trading volume of 543,326 shares, compared to its average volume of 1,224,283. Loblaw Companies has a fifty-two week low of C$43.78 and a fifty-two week high of C$69.04. The firm’s 50 day simple moving average is C$63.44 and its 200-day simple moving average is C$69.27. The company has a quick ratio of 0.68, a current ratio of 1.29 and a debt-to-equity ratio of 166.11. The company has a market capitalization of C$81.28 billion, a price-to-earnings ratio of 33.61, a PEG ratio of 3.23 and a beta of 0.30.

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. The firm carries a robust private-label assortment, with top sellers like President’s Choice and No Name. In addition to its retail operations, Loblaw oversees a financial-services business, which provides credit card services and guaranteed investment certificates, and also operates its PC Optimum loyalty program.