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

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

L has been the subject of a number of other reports. Desjardins lifted their target price 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 price target on Loblaw Companies and gave the company a “buy” rating in a research report on Friday, December 13th. TD Securities cut 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 report on Thursday, November 14th. National Bankshares increased their price objective on Loblaw Companies from C$188.00 to C$195.00 in a research report on Thursday, November 14th. Finally, Royal Bank of Canada boosted their target price on Loblaw Companies from C$205.00 to C$217.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Loblaw Companies has a consensus rating of “Buy” and a consensus price target of C$197.00.

Loblaw Companies Trading Up 0.0 %

Shares of TSE L opened at C$191.14 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.36 and a debt-to-equity ratio of 163.32. The stock’s 50 day moving average price is C$184.00 and its two-hundred day moving average price is C$174.52. Loblaw Companies has a 52-week low of C$125.66 and a 52-week high of C$196.49. The stock has a market capitalization of C$58.37 billion, a P/E ratio of 28.96, a PEG ratio of 3.23 and a beta of 0.17.

Insider Activity

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