In a report released today, Mark Petrie from CIBC reiterated a Buy rating on Loblaw Companies (LBLCF), with a price target of C$78.00. The company’s shares closed last Wednesday at $56.70.
According to TipRanks.com, Petrie is a 5-star analyst with an average return of 15.3% and a 65.3% success rate. Petrie covers the Consumer Goods sector, focusing on stocks such as Gildan Activewear, Canadian Tire, and Canadian Tire.
Loblaw Companies has an analyst consensus of Moderate Buy, with a price target consensus of $62.30, a 10.9% upside from current levels. In a report issued on April 26, National Bank also maintained a Buy rating on the stock with a C$76.00 price target.
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Loblaw Companies’ market cap is currently $19.23B and has a P/E ratio of 23.30. The company has a Price to Book ratio of -464.85.
Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LBLCF in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Loblaw Cos. Ltd. is a food retailer, which engages in the provision of drugstore, general merchandise, and financial products and services. It operates through the following business segments: Retail and Financial Services. The Retail segment consists of retail food and Aasociate-owned drug stores, and also includes in-store pharmacies and other health and beauty products, gas bars and apparel and other general merchandise. The Financial Services segment offers credit card services, loyalty programs, insurance brokerage services, personal banking services provided by a major Canadian chartered bank, deposit taking services and telecommunication services. The company was founded in 1919 and is headquartered in Brampton, Canada.
