Saputo Inc. (SAP) Upgraded by Royal Bank Of Canada to Outperform
Saputo Inc. (TSE:SAP) was upgraded by equities researchers at Royal Bank Of Canada from a “sector perform” rating to an “outperform” rating in a note issued to investors on Wednesday. The firm currently has a C$48.00 price target on the stock. Royal Bank Of Canada’s target price indicates a potential upside of 14.26% from the company’s current price.
A number of other equities analysts have also recently issued reports on the company. BMO Capital Markets reiterated a “market perform” rating and issued a C$48.00 target price on shares of Saputo in a report on Thursday, April 13th. Desjardins upgraded Saputo from a “hold” rating to a “buy” rating and set a C$47.00 target price on the stock in a report on Friday, June 2nd. CIBC cut their target price on Saputo from C$54.00 to C$51.00 in a report on Friday, June 2nd. Finally, TD Securities dropped their price objective on Saputo from C$49.00 to C$48.00 and set a “hold” rating on the stock in a research note on Friday, June 2nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of C$48.86.
Saputo (SAP) opened at 42.01 on Wednesday. Saputo has a one year low of $38.41 and a one year high of $48.98. The company’s 50-day moving average is $41.91 and its 200-day moving average is $44.77. The firm has a market capitalization of $16.22 billion and a P/E ratio of 22.83.
Saputo (TSE:SAP) last issued its earnings results on Thursday, June 1st. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by $0.06. Saputo had a return on equity of 15.26% and a net margin of 6.07%. The firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.92 billion. Equities analysts forecast that Saputo will post $2.03 earnings per share for the current fiscal year.
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In related news, Director Diane Nyisztor acquired 1,000 shares of the company’s stock in a transaction on Wednesday, June 14th. The shares were acquired at an average cost of C$41.93 per share, for a total transaction of C$41,930.00. Over the last 90 days, insiders have acquired 2,190 shares of company stock worth $93,037.
Saputo Inc produces, markets and distributes dairy products, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products and dairy ingredients. The Company has three geographic sectors. The Canada Sector consists of Dairy Division (Canada). The USA Sector aggregates the Cheese Division (USA) and the Dairy Foods Division (USA).
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