Loblaw Companies Ltd (L) Receives Average Recommendation of “Buy” from Brokerages

Shares of Loblaw Companies Ltd (TSE:L) have received a consensus recommendation of “Buy” from the nine brokerages that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is C$68.22.

Several analysts recently weighed in on L shares. National Bank Financial boosted their price objective on shares of Loblaw Companies from C$72.00 to C$73.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 5th. CIBC boosted their price objective on shares of Loblaw Companies from C$81.00 to C$82.00 in a research note on Wednesday, September 5th. Royal Bank of Canada reduced their price objective on shares of Loblaw Companies from C$84.00 to C$73.00 and set an “outperform” rating on the stock in a research note on Friday, November 2nd. TD Securities reduced their price objective on shares of Loblaw Companies from C$82.00 to C$69.00 in a research note on Friday, November 2nd. Finally, BMO Capital Markets reduced their price objective on shares of Loblaw Companies from C$82.00 to C$70.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 7th.

In other Loblaw Companies news, insider Garry Senecal sold 765 shares of the company’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of C$67.60, for a total transaction of C$51,714.00. Also, Director Robert Sawyer purchased 2,000 shares of the business’s stock in a transaction on Thursday, September 6th. The shares were purchased at an average cost of C$69.29 per share, for a total transaction of C$138,580.00. In the last three months, insiders sold 117,242 shares of company stock worth $7,149,415.

Shares of TSE L traded up C$0.52 during midday trading on Monday, reaching C$61.52. 434,898 shares of the company were exchanged, compared to its average volume of 653,269. Loblaw Companies has a one year low of C$50.22 and a one year high of C$61.82. The company has a quick ratio of 0.61, a current ratio of 1.19 and a debt-to-equity ratio of 123.99.

Loblaw Companies Company Profile

Loblaw Companies Limited, a food and pharmacy company, provides grocery, pharmacy, health and beauty, apparel, general merchandise, credit card, insurance brokerage, gift card, and telecommunication services in Canada. It operates through three segments: Retail, Financial Services, and Choice Properties.

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Analyst Recommendations for Loblaw Companies (TSE:L)

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