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

Saputo (TSE:SAP) had its price objective dropped by CIBC from C$32.00 to C$29.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. CIBC’s target price would indicate a potential upside of 21.24% from the stock’s previous close.

A number of other research analysts have also commented on SAP. TD Securities dropped their price objective on shares of Saputo from C$38.00 to C$37.00 in a research note on Monday, November 11th. Royal Bank of Canada reduced their price objective on Saputo from C$38.00 to C$35.00 and set an “outperform” rating for the company in a research note on Friday. Jefferies Financial Group lowered their target price on Saputo from C$36.00 to C$32.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. BMO Capital Markets cut their price target on Saputo from C$30.00 to C$27.00 and set a “market perform” rating for the company in a research note on Friday, January 10th. Finally, Desjardins lowered their price objective on shares of Saputo from C$34.00 to C$31.00 and set a “buy” rating on the stock in a research report on Monday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Saputo has a consensus rating of “Moderate Buy” and a consensus target price of C$31.44.

Saputo Stock Up 0.5 %

Shares of SAP traded up C$0.11 during midday trading on Monday, hitting C$23.92. The company had a trading volume of 364,461 shares, compared to its average volume of 792,859. Saputo has a 1 year low of C$22.59 and a 1 year high of C$32.15. The company’s 50-day simple moving average is C$24.73 and its 200-day simple moving average is C$27.45. The company has a debt-to-equity ratio of 53.17, a quick ratio of 0.67 and a current ratio of 1.59. The firm has a market capitalization of C$10.15 billion, a P/E ratio of 37.97, a P/E/G ratio of 0.56 and a beta of 0.32.

Saputo (TSE:SAP) last announced its quarterly earnings results on Thursday, November 7th. The company reported C$0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.39 by C($0.02). Saputo had a net margin of 1.50% and a return on equity of 3.72%. During the same period last year, the company earned $0.43 earnings per share. As a group, sell-side analysts expect that Saputo will post 1.7735369 EPS for the current year.

Insider Activity at Saputo

In other news, Senior Officer Leanne Cutts bought 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was bought at an average price of C$26.25 per share, for a total transaction of C$105,000.00. 40.45% of the stock is owned by corporate insiders.

About Saputo

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.