Loblaw Companies (TSE:L) Stock Rating Lowered by Scotiabank

Loblaw Companies (TSE:L) was downgraded by equities researchers at Scotiabank from an “outperform” rating to a “sector perform” rating in a report issued on Wednesday, MarketBeat Ratings reports. They presently have a C$200.00 target price on the stock. Scotiabank’s target price would suggest a potential upside of 8.36% from the stock’s current price.

Several other analysts also recently commented on the stock. National Bankshares raised their target price on shares of Loblaw Companies from C$188.00 to C$195.00 in a report on Thursday, November 14th. UBS Group set a C$225.00 price objective on shares of Loblaw Companies and gave the stock a “buy” rating in a research report on Friday, December 13th. TD Securities decreased their target price on shares of Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Royal Bank of Canada lifted their price target on shares of Loblaw Companies from C$205.00 to C$217.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Desjardins increased their price objective on shares of Loblaw Companies from C$172.00 to C$190.00 in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$201.88.

Loblaw Companies Stock Up 0.3 %

Shares of Loblaw Companies stock opened at C$184.57 on Wednesday. The company has a market capitalization of C$56.37 billion, a P/E ratio of 27.97, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17. 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 business has a 50-day moving average of C$186.36 and a two-hundred day moving average of C$176.53. Loblaw Companies has a 1 year low of C$126.15 and a 1 year high of C$196.49.

Insider Activity at Loblaw Companies

In related news, Director Christie James Beckett Clark sold 2,105 shares of Loblaw Companies stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of C$189.69, for a total transaction of C$399,297.45. 53.77% of the stock is currently owned by company 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.