Royal Bank of Canada Issues Pessimistic Forecast for George Weston (TSE:WN) Stock Price

George Weston (TSE:WN) had its target price cut by equities researchers at Royal Bank of Canada from C$266.00 to C$264.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 14.78% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Desjardins increased their target price on shares of George Weston from C$232.00 to C$255.00 in a report on Wednesday, November 20th. BMO Capital Markets increased their price objective on shares of George Weston from C$220.00 to C$221.50 in a research note on Wednesday, November 20th. Scotiabank cut shares of George Weston from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from C$240.00 to C$241.00 in a research note on Thursday. TD Securities increased their price target on George Weston from C$242.00 to C$263.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Finally, CIBC cut their price objective on George Weston from C$269.00 to C$268.00 and set an “outperform” rating on the stock in a report on Thursday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, George Weston presently has a consensus rating of “Moderate Buy” and a consensus price target of C$251.42.

George Weston Price Performance

TSE WN traded down C$4.47 on Thursday, hitting C$230.00. 92,209 shares of the company’s stock were exchanged, compared to its average volume of 120,434. George Weston has a 52 week low of C$174.30 and a 52 week high of C$239.79. The stock has a 50-day moving average of C$223.34 and a 200-day moving average of C$223.17. The company has a current ratio of 1.32, a quick ratio of 0.73 and a debt-to-equity ratio of 372.50. The stock has a market cap of C$29.86 billion, a price-to-earnings ratio of 46.04, a P/E/G ratio of 5.03 and a beta of 0.42.

Insider Buying and Selling

In other news, Senior Officer Richard Dufresne sold 10,000 shares of the firm’s stock in a transaction that occurred on 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. Also, Senior Officer Rashid Wasti sold 150 shares of George Weston stock in a transaction on Thursday, December 5th. The shares were sold at an average price of C$235.45, for a total transaction of C$35,317.50. 59.41% of the stock is owned by insiders.

George Weston Company Profile

George Weston is a holding company that operates through two subsidiaries encompassing retail and real estate. The first is Loblaw, the largest grocer in Canada, in which it has a 53% controlling stake. The second is Choice Properties, an open-ended real estate investment trust, where George Weston’s ownership sits close to 62%.