Royal Bank of Canada Issues Pessimistic Forecast for Leon’s Furniture (TSE:LNF) Stock Price

Leon’s Furniture (TSE:LNF) had its price objective lowered by equities researchers at Royal Bank of Canada from C$32.00 to C$31.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 26.07% from the company’s current price.

LNF has been the subject of several other reports. National Bank Financial upgraded shares of Leon’s Furniture to a “strong-buy” rating in a report on Thursday, January 30th. Stifel Nicolaus cut their target price on shares of Leon’s Furniture from C$30.00 to C$27.00 and set a “hold” rating on the stock in a research note on Wednesday. Finally, CIBC set a C$29.00 price target on Leon’s Furniture and gave the company a “neutral” rating in a report on Tuesday, December 17th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$29.00.

Leon’s Furniture Stock Performance

LNF opened at C$24.59 on Thursday. The company has a quick ratio of 0.53, a current ratio of 1.38 and a debt-to-equity ratio of 38.14. The firm has a market cap of C$1.69 billion, a PE ratio of 12.82 and a beta of 0.82. The business has a fifty day simple moving average of C$25.40 and a 200-day simple moving average of C$27.15. Leon’s Furniture has a fifty-two week low of C$20.27 and a fifty-two week high of C$30.64.

Insider Buying and Selling

In other Leon’s Furniture news, Senior Officer John Andrew Cooney sold 7,000 shares of Leon’s Furniture stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of C$26.15, for a total value of C$183,043.70. 69.49% of the stock is owned by corporate insiders.

About Leon’s Furniture

Leon’s Furniture Ltd is a Canada-based retailer which is involved in the sale of home furnishing, mattresses, appliances, and electronics. The firm is also the country’s commercial retailer of appliances to builders, developers, hotels, and property management companies. It generates maximum revenue from sales of goods by corporate stores.