CIBC Forecasts Strong Price Appreciation for George Weston (TSE:WN) Stock

George Weston (TSE:WN) had its price objective raised by equities research analysts at CIBC from C$254.00 to C$269.00 in a research note issued on Wednesday,BayStreet.CA reports. CIBC’s price target points to a potential upside of 22.79% from the stock’s current price.

WN has been the topic of a number of other reports. TD Securities raised their target price on George Weston from C$242.00 to C$263.00 and gave the company a “buy” rating in a research report on Monday. Royal Bank of Canada raised their target price on George Weston from C$230.00 to C$253.00 in a research report on Tuesday, November 12th. Desjardins raised their target price on George Weston from C$232.00 to C$255.00 in a research report on Wednesday. Scotiabank dropped their target price on George Weston from C$222.00 to C$218.00 in a research report on Wednesday. Finally, BMO Capital Markets lifted their price objective on George Weston from C$196.00 to C$220.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$246.58.

George Weston Stock Performance

TSE WN opened at C$219.08 on Wednesday. George Weston has a fifty-two week low of C$155.49 and a fifty-two week high of C$236.30. The company has a debt-to-equity ratio of 171.94, a quick ratio of 0.73 and a current ratio of 1.35. The firm has a market capitalization of C$28.95 billion, a P/E ratio of 24.67, a PEG ratio of 5.03 and a beta of 0.42. The stock has a 50-day simple moving average of C$223.76 and a two-hundred day simple moving average of C$210.57.

Insider Buying and Selling

In other news, Director Alannah Elizabeth Weston sold 36,865 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of C$226.64, for a total transaction of C$8,355,124.15. Also, Senior Officer Rashid Wasti bought 2,000 shares of the stock in a transaction dated Monday, August 26th. The shares were bought at an average price of C$21.67 per share, for a total transaction of C$43,340.00. In the last three months, insiders have bought 6,100 shares of company stock worth $131,699 and have sold 54,115 shares worth $12,177,793. 59.41% of the stock is currently owned by insiders.

About George Weston

George Weston Limited provides food and drug retailing, and financial services in Canada. The company operates through two segments, Loblaw Companies Limited (Loblaw) and Choice Properties Real Estate Investment Trust (Choice Properties). The Loblaw segment provides grocery, pharmacy and healthcare services, health and beauty products, apparel, general merchandise, and financial services.