Loblaw Companies (TSE:L) Stock Rating Upgraded by Scotiabank

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

L has been the topic of several other reports. Royal Bank of Canada upped 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 research report on Monday, December 9th. TD Securities decreased their price target on Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Desjardins raised their price objective on Loblaw Companies from C$172.00 to C$190.00 in a research note on Thursday, November 14th. National Bankshares boosted their target price on Loblaw Companies from C$188.00 to C$195.00 in a research report on Thursday, November 14th. Finally, 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. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Loblaw Companies has a consensus rating of “Buy” and a consensus price target of C$197.00.

Loblaw Companies Price Performance

Shares of TSE:L opened at C$191.14 on Friday. Loblaw Companies has a 52 week low of C$125.66 and a 52 week high of C$196.49. The company has a 50-day moving average price of C$184.00 and a 200 day moving average price of C$174.41. The company has a market cap of C$58.37 billion, a P/E ratio of 28.96, a PEG ratio of 3.23 and a beta of 0.17. The company has a quick ratio of 0.68, a current ratio of 1.36 and a debt-to-equity ratio of 163.32.

Insiders Place Their Bets

In other news, Director Christie James Beckett Clark sold 2,105 shares of the stock in a transaction dated 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 currently 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.