Desjardins Upgrades Saputo (SAP) to “Buy”
Saputo (TSE:SAP) was upgraded by stock analysts at Desjardins from a “hold” rating to a “buy” rating in a report issued on Thursday.
SAP has been the subject of a number of other reports. Scotiabank dropped their target price on shares of Saputo from C$58.00 to C$57.00 and set an “outperform” rating for the company in a research note on Friday, November 3rd. National Bank Financial reaffirmed a “sector perform” rating and issued a C$50.00 target price on shares of Saputo in a research note on Monday, October 30th. TD Securities boosted their target price on shares of Saputo from C$49.00 to C$52.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a C$47.00 target price on shares of Saputo in a research note on Friday, October 27th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Saputo presently has an average rating of “Buy” and a consensus target price of C$50.14.
Shares of Saputo (SAP) traded down C$0.29 during mid-day trading on Thursday, reaching C$45.18. 266,405 shares of the company traded hands, compared to its average volume of 298,228. Saputo has a 12-month low of C$39.74 and a 12-month high of C$48.98. The company has a market cap of $17,470.00, a P/E ratio of 23.90 and a beta of 0.02.
In other news, Director Paul Corney sold 2,000 shares of Saputo stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of C$44.00, for a total transaction of C$88,000.00.
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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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