CIBC Lowers Saputo (TSE:SAP) Price Target to C$29.00

Saputo (TSE:SAP) had its price target decreased by equities research analysts at CIBC from C$32.00 to C$29.00 in a research note issued to investors on Monday,BayStreet.CA reports. CIBC’s target price would indicate a potential upside of 20.73% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group lowered their price target on shares of Saputo from C$36.00 to C$32.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. TD Securities dropped their price objective on Saputo from C$38.00 to C$37.00 in a report on Monday, November 11th. Desjardins decreased their price target on Saputo from C$34.00 to C$31.00 and set a “buy” rating on the stock in a research report on Monday. National Bankshares cut their price objective on shares of Saputo from C$31.00 to C$28.00 in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada decreased their target price on shares of Saputo from C$38.00 to C$35.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Saputo presently has an average rating of “Moderate Buy” and an average target price of C$31.44.

Saputo Price Performance

TSE:SAP opened at C$24.02 on Monday. Saputo has a 12-month low of C$22.59 and a 12-month high of C$32.15. The stock’s 50 day moving average price is C$24.68 and its two-hundred day moving average price is C$27.40. The company has a quick ratio of 0.67, a current ratio of 1.59 and a debt-to-equity ratio of 53.17. The firm has a market capitalization of C$10.19 billion, a price-to-earnings ratio of 38.13, a P/E/G ratio of 0.56 and a beta of 0.32.

Insider Activity

In related news, Senior Officer Leanne Cutts bought 4,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were purchased at an average cost of C$26.25 per share, with a total value of C$105,000.00. 40.45% of the stock is owned by corporate insiders.

Saputo Company Profile

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.