Loblaw Companies (TSE:L) Upgraded by BMO Capital Markets to “Outperform” Rating

Loblaw Companies (TSE:L) was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued on Monday,BayStreet.CA reports. The firm presently has a C$70.00 target price on the stock, up from their prior target price of C$68.00. BMO Capital Markets’ target price indicates a potential upside of 6.54% from the stock’s previous close.

Several other research analysts also recently weighed in on L. Canadian Imperial Bank of Commerce reduced their price target on shares of Loblaw Companies from C$75.00 to C$69.00 in a research report on Thursday, May 7th. Scotiabank lowered Loblaw Companies from an “outperform” rating to a “hold” rating and set a C$70.00 price objective for the company. in a research note on Thursday, April 9th. Finally, Scotia reduced their target price on Loblaw Companies from C$70.00 to C$64.00 and set a “sector perform” rating for the company in a report on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$69.50.

Loblaw Companies Price Performance

TSE L traded up C$0.21 on Monday, hitting C$65.70. The company had a trading volume of 342,549 shares, compared to its average volume of 1,356,234. The company has a market capitalization of C$76.47 billion, a PE ratio of 28.57, a PEG ratio of 3.23 and a beta of 0.13. The company’s fifty day moving average price is C$63.34 and its 200-day moving average price is C$63.36. The company has a debt-to-equity ratio of 153.41, a current ratio of 1.09 and a quick ratio of 0.68. Loblaw Companies has a 12-month low of C$52.92 and a 12-month high of C$69.59.

Loblaw Companies (TSE:L) last posted its quarterly earnings data on Wednesday, May 6th. The company reported C$0.52 earnings per share (EPS) for the quarter. Loblaw Companies had a net margin of 4.29% and a return on equity of 24.88%. The business had revenue of C$14.48 billion for the quarter. As a group, analysts predict that Loblaw Companies will post 9.1225541 earnings per share for the current year.

Insider Transactions at Loblaw Companies

In related news, Director Nicholas Henn sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of C$67.00, for a total transaction of C$670,000.00. Also, insider Melanie Singh sold 4,820 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of C$66.72, for a total transaction of C$321,590.40. 53.77% of the stock is owned by corporate 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. 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.