Loblaw Companies (TSE:L – Get Free Report) has been given a C$70.00 target price by National Bank Financial in a research note issued on Thursday, BayStreet reports. The brokerage currently has an “outperform” rating on the stock. National Bank Financial’s price objective indicates a potential upside of 14.10% from the company’s previous close.
A number of other brokerages have also recently commented on L. BMO Capital Markets boosted their target price on shares of Loblaw Companies from C$70.00 to C$73.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Desjardins lifted their price target on shares of Loblaw Companies from C$70.00 to C$72.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Scotia boosted their price objective on shares of Loblaw Companies from C$64.00 to C$67.00 and gave the stock a “sector perform” rating in a research note on Friday, July 31st. TD set a C$75.00 target price on shares of Loblaw Companies and gave the company a “buy” rating in a research note on Thursday. Finally, TD Securities raised Loblaw Companies to a “strong-buy” rating in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$71.44.
Read Our Latest Stock Report on Loblaw Companies
Loblaw Companies Stock Down 1.7%
Loblaw Companies (TSE:L – Get Free Report) last released its earnings results on Thursday, July 30th. The company reported C$0.66 EPS for the quarter. The company had revenue of C$15.05 billion during the quarter. Loblaw Companies had a return on equity of 25.25% and a net margin of 4.32%. On average, equities research analysts predict that Loblaw Companies will post 9.1225541 EPS for the current year.
Insider Transactions at Loblaw Companies
In other Loblaw Companies news, insider Per Bank sold 39,762 shares of Loblaw Companies stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of C$62.01, for a total transaction of C$2,465,641.62. Following the transaction, the insider owned 203,623 shares of the company’s stock, valued at C$12,626,662.23. The trade was a 16.34% decrease in their ownership of the stock. Also, insider Mark William Henry Wilson sold 24,496 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of C$62.68, for a total transaction of C$1,535,409.28. In the last 90 days, insiders sold 267,881 shares of company stock valued at $16,627,713. Company insiders own 53.77% of the company’s stock.
Loblaw Companies Company Profile
Loblaw is Canada’s food and pharmacy leader, and the nation’s largest retailer. Loblaw provides Canadians with grocery, pharmacy, health and beauty, apparel, general merchandise, financial services and wireless mobile products and services. With more than 2,800 corporate franchised and Associate-owned locations, Loblaw, its franchisees and Associate-owners employ more than 220,000 full- and part-time employees, making it one of Canada’s largest private sector employers. Loblaw’s purpose – Live Life Well® – puts first the needs and well-being of Canadians who make one billion transactions annually in the company’s stores.
Featured Stories
- Five stocks we like better than Loblaw Companies
- AeroVironment’s Record Backlog and Earnings Beat Fuel Recovery Case
- Corning Just Locked In a Massive Verizon Fiber Deal as AI Infrastructure Expands
- 3 Under-$20 Stocks Tied to the Future of U.S. Energy and Materials
- Uncle Sam’s Quantum Leap: Feds Fund a $300M Quantum Supercycle
Receive News & Ratings for Loblaw Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Loblaw Companies and related companies with MarketBeat.com's FREE daily email newsletter.
