Loblaw Companies (TSE:L) Rating Lowered to Sector Perform at Scotiabank

Loblaw Companies (TSE:L) was downgraded by research analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. They presently have a C$200.00 price target on the stock. Scotiabank’s price objective suggests a potential upside of 8.73% from the company’s previous close.

A number of other research analysts also recently commented on the stock. National Bankshares increased their price target on shares of Loblaw Companies from C$188.00 to C$195.00 in a report on Thursday, November 14th. TD Securities dropped their target price on 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. UBS Group set a C$225.00 price target on Loblaw Companies and gave the company a “buy” rating in a report on Friday, December 13th. Desjardins lifted their price objective on shares of Loblaw Companies from C$172.00 to C$190.00 in a research note on Thursday, November 14th. Finally, Royal Bank of Canada raised their target price on shares of Loblaw Companies from C$205.00 to C$217.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$201.88.

Loblaw Companies Price Performance

Shares of TSE L traded down C$4.58 during midday trading on Wednesday, reaching C$183.94. 160,741 shares of the stock traded hands, compared to its average volume of 262,151. The company’s 50 day moving average is C$186.10 and its 200 day moving average is C$176.26. Loblaw Companies has a one year low of C$126.15 and a one year high of C$196.49. The stock has a market capitalization of C$56.17 billion, a PE ratio of 27.87, a P/E/G ratio of 3.23 and a beta of 0.17. The company has a debt-to-equity ratio of 163.32, a current ratio of 1.36 and a quick ratio of 0.68.

Insider Transactions at Loblaw Companies

In other Loblaw Companies news, Director Christie James Beckett Clark sold 2,105 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of C$189.69, for a total transaction of C$399,297.45. Corporate insiders own 53.77% of the company’s stock.

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.