Loblaw Companies (TSE:L – Get Free Report) had its price target lifted by Scotia from C$64.00 to C$67.00 in a report released on Friday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotia’s price objective indicates a potential upside of 0.77% from the company’s previous close.
A number of other analysts have also commented on the company. BMO Capital Markets raised Loblaw Companies from a “hold” rating to an “outperform” rating and raised their price target for the stock from C$68.00 to C$70.00 in a research note on Monday, July 20th. Scotiabank cut shares of Loblaw Companies from an “outperform” rating to a “hold” rating and set a C$70.00 target price for the company. in a research report on Thursday, April 9th. TD Securities raised shares of Loblaw Companies to a “strong-buy” rating in a research note on Wednesday. Finally, Canadian Imperial Bank of Commerce cut their target price on shares of Loblaw Companies from C$75.00 to C$69.00 in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$71.00.
Loblaw Companies Trading Up 1.2%
Loblaw Companies (TSE:L – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported C$0.66 earnings per share for the quarter. The business had revenue of C$15.05 billion during the quarter. Loblaw Companies had a return on equity of 24.88% and a net margin of 4.29%. On average, sell-side analysts predict that Loblaw Companies will post 9.1225541 earnings per share for the current year.
Insiders Place Their Bets
In other news, Director Nicholas Henn sold 10,000 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of C$67.00, for a total transaction of C$670,000.00. Also, insider Melanie Singh sold 4,820 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of C$66.72, for a total transaction of C$321,590.40. 53.77% of the stock is currently owned by corporate insiders.
About Loblaw Companies
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. The firm carries a robust private-label assortment, with top sellers like President’s Choice and No Name. In addition to its retail operations, Loblaw oversees a financial-services business, which provides credit card services and guaranteed investment certificates, and also operates its PC Optimum loyalty program.
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