Saputo (TSE:SAP) PT Raised to C$40.00 at Scotiabank

Saputo (TSE:SAPGet Rating) had its price objective raised by equities researchers at Scotiabank from C$36.00 to C$40.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. Scotiabank’s target price suggests a potential upside of 19.94% from the stock’s previous close.

Several other research analysts have also recently commented on the company. National Bankshares boosted their price target on Saputo from C$35.00 to C$39.00 and gave the stock an “outperform” rating in a research note on Friday, August 5th. BMO Capital Markets boosted their price target on Saputo from C$39.00 to C$41.00 in a research note on Friday, August 5th. TD Securities upped their price objective on Saputo from C$39.00 to C$42.00 and gave the company a “buy” rating in a research note on Friday, August 5th. CIBC upped their price objective on Saputo from C$35.00 to C$39.00 and gave the company an “outperform” rating in a research note on Friday, August 5th. Finally, Royal Bank of Canada upped their price objective on Saputo from C$35.00 to C$40.00 and gave the company an “outperform” rating in a research note on Friday, August 5th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Saputo presently has a consensus rating of “Buy” and an average target price of C$39.11.

Saputo Price Performance

Shares of TSE SAP opened at C$33.35 on Tuesday. Saputo has a 1-year low of C$24.61 and a 1-year high of C$35.85. The business has a 50-day moving average of C$31.53 and a 200-day moving average of C$29.68. The company has a debt-to-equity ratio of 64.58, a current ratio of 1.56 and a quick ratio of 0.64. The company has a market capitalization of C$13.93 billion and a price-to-earnings ratio of 38.78.

Saputo (TSE:SAPGet Rating) last issued its earnings results on Thursday, August 4th. The company reported C$0.39 earnings per share for the quarter, topping the consensus estimate of C$0.30 by C$0.09. The company had revenue of C$4.33 billion during the quarter, compared to analysts’ expectations of C$4.20 billion. On average, equities analysts anticipate that Saputo will post 1.9700001 EPS for the current fiscal year.

Insider Activity

In other news, Senior Officer Patrick Turcotte sold 8,138 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of C$34.01, for a total transaction of C$276,810.00. Following the completion of the transaction, the insider now directly owns 7,320 shares of the company’s stock, valued at C$248,986.14. In other Saputo news, Director Haig Poutchigian acquired 3,329 shares of the firm’s stock in a transaction that occurred on Tuesday, June 14th. The stock was acquired at an average cost of C$27.03 per share, with a total value of C$89,982.87. Following the acquisition, the director now directly owns 8,741 shares of the company’s stock, valued at approximately C$236,269.23. Also, Senior Officer Patrick Turcotte sold 8,138 shares of the stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of C$34.01, for a total value of C$276,810.00. Following the completion of the transaction, the insider now directly owns 7,320 shares of the company’s stock, valued at C$248,986.14. Over the last ninety days, insiders sold 50,012 shares of company stock valued at $1,509,426.

Saputo Company Profile

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Saputo Inc produces, markets, and distributes dairy products in Canada, the United States, Argentina, Australia, and the United Kingdom. The company offers cheeses, including mozzarella and cheddar; specialty cheeses, such as ricotta, provolone, blue, parmesan, goat cheese, feta, romano, and havarti; fine cheeses comprising brie and camembert; and other cheeses that include brick, colby, farmer, munster, monterey jack, fresh curd, and processed cheeses.

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