TD Securities Issues Pessimistic Forecast for Loblaw Companies (TSE:L) Stock Price

Loblaw Companies (TSE:L) had its price objective reduced by equities research analysts at TD Securities from C$202.00 to C$195.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. TD Securities’ target price would indicate a potential upside of 12.06% from the stock’s current price.

Several other brokerages have also recently weighed in on L. CIBC increased their price objective on shares of Loblaw Companies from C$189.00 to C$206.00 in a research note on Thursday, November 14th. Royal Bank of Canada increased their price objective on shares of Loblaw Companies from C$205.00 to C$217.00 and gave the company an “outperform” rating in a report on Monday, December 9th. UBS Group set a C$225.00 price objective on shares of Loblaw Companies and gave the company a “buy” rating in a report on Friday, December 13th. National Bankshares increased their price objective on shares of Loblaw Companies from C$188.00 to C$195.00 in a report on Thursday, November 14th. Finally, Scotiabank lowered shares of Loblaw Companies from an “outperform” rating to a “sector perform” rating and set a C$200.00 target price for the company. in a report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Loblaw Companies presently has a consensus rating of “Moderate Buy” and an average target price of C$199.38.

Loblaw Companies Stock Performance

Shares of TSE:L traded down C$0.73 during trading on Friday, hitting C$174.02. The company’s stock had a trading volume of 206,312 shares, compared to its average volume of 344,366. The company has a 50-day moving average of C$184.52 and a 200-day moving average of C$179.87. Loblaw Companies has a 12 month low of C$138.13 and a 12 month high of C$196.49. The company has a debt-to-equity ratio of 166.11, a current ratio of 1.29 and a quick ratio of 0.68. The firm has a market cap of C$52.61 billion, a price-to-earnings ratio of 23.62, a P/E/G ratio of 3.23 and a beta of 0.17.

Insider Activity at Loblaw Companies

In other Loblaw Companies news, Director Christie James Beckett Clark sold 2,105 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was 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 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.