George Weston (TSE:WN) Shares Cross Above 200 Day Moving Average – Here’s Why

George Weston Limited (TSE:WN)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$217.47 and traded as high as C$224.98. George Weston shares last traded at C$223.54, with a volume of 51,476 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on WN shares. Royal Bank of Canada boosted their target price on shares of George Weston from C$253.00 to C$266.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. BMO Capital Markets upped their price objective on shares of George Weston from C$220.00 to C$221.50 in a report on Wednesday, November 20th. CIBC raised their target price on George Weston from C$254.00 to C$269.00 in a research note on Wednesday, November 20th. TD Securities upped their price target on George Weston from C$242.00 to C$263.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Finally, Desjardins increased their price target on George Weston from C$232.00 to C$255.00 in a report on Wednesday, November 20th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$248.75.

George Weston Trading Up 0.1 %

The company has a quick ratio of 0.73, a current ratio of 1.35 and a debt-to-equity ratio of 171.94. The company has a market capitalization of C$29.57 billion, a P/E ratio of 25.20, a P/E/G ratio of 5.03 and a beta of 0.42. The firm’s 50-day moving average price is C$226.58 and its 200 day moving average price is C$217.68.

Insiders Place Their Bets

In other news, Senior Officer Rashid Wasti sold 150 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of C$235.45, for a total value of C$35,317.50. Also, Senior Officer Richard Dufresne sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of C$224.95, for a total transaction of C$2,249,513.00. In the last ninety days, insiders purchased 3,000 shares of company stock valued at $65,080 and sold 15,150 shares valued at $3,393,420. Corporate insiders own 59.41% of the company’s stock.

About George Weston

George Weston Limited provides food and drug retailing, and financial services in Canada. The company operates through two segments, Loblaw Companies Limited (Loblaw) and Choice Properties Real Estate Investment Trust (Choice Properties). The Loblaw segment provides grocery, pharmacy and healthcare services, health and beauty products, apparel, general merchandise, and financial services.