Scotiabank Downgrades Loblaw Companies (TSE:L) to Sector Perform

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

L has been the subject of several other reports. TD Securities decreased their price objective on shares of Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Desjardins boosted their price objective on shares of Loblaw Companies from C$172.00 to C$190.00 in a report on Thursday, November 14th. CIBC raised their target price on Loblaw Companies from C$189.00 to C$206.00 in a research note on Thursday, November 14th. Royal Bank of Canada boosted their price target on Loblaw Companies from C$205.00 to C$217.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, UBS Group set a C$225.00 price objective on Loblaw Companies and gave the stock a “buy” rating in a research note on Friday, December 13th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Loblaw Companies currently has an average rating of “Moderate Buy” and an average price target of C$201.88.

Loblaw Companies Stock Down 2.4 %

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

Insider Transactions at Loblaw Companies

In other Loblaw Companies 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 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.