Scotiabank Upgrades Loblaw Companies (TSE:L) to “Strong-Buy”

Loblaw Companies (TSE:L) was upgraded by research analysts at Scotiabank to a “strong-buy” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

Several other analysts have also recently issued reports on the company. CIBC increased their price objective on Loblaw Companies from C$189.00 to C$206.00 in a research note on Thursday, November 14th. Desjardins lifted their price objective on Loblaw Companies from C$172.00 to C$190.00 in a research note on Thursday, November 14th. UBS Group set a C$225.00 target price on shares of Loblaw Companies and gave the stock a “buy” rating in a research note on Friday, December 13th. TD Securities decreased their price target on shares of Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Finally, National Bankshares increased their price objective on shares of Loblaw Companies from C$188.00 to C$195.00 in a research report on Thursday, November 14th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Loblaw Companies presently has a consensus rating of “Buy” and an average price target of C$197.00.

Loblaw Companies Price Performance

Shares of L opened at C$191.14 on Friday. Loblaw Companies has a 1-year low of C$125.66 and a 1-year high of C$196.49. The company has a debt-to-equity ratio of 163.32, a current ratio of 1.36 and a quick ratio of 0.68. The firm has a 50-day simple moving average of C$184.00 and a two-hundred day simple moving average of C$174.52. The stock has a market cap of C$58.37 billion, a PE ratio of 28.96, a P/E/G ratio of 3.23 and a beta of 0.17.

Insider Transactions at Loblaw Companies

In other Loblaw Companies news, Director Christie James Beckett Clark sold 2,105 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of C$189.69, for a total value of C$399,297.45. Company 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.