BMO Capital Markets Forecasts Strong Price Appreciation for Saputo (TSE:SAP) Stock

Saputo (TSE:SAP) had its price objective raised by analysts at BMO Capital Markets from C$37.00 to C$41.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price target would suggest a potential downside of 1.91% from the stock’s previous close.

Several other research firms have also weighed in on SAP. Desjardins increased their price target on shares of Saputo from C$40.00 to C$45.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Scotiabank raised their target price on Saputo from C$36.00 to C$37.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. National Bankshares lifted their price objective on Saputo from C$38.00 to C$45.00 and gave the stock an “outperform” rating in a report on Thursday. Jefferies Financial Group lifted their target price on shares of Saputo from C$38.00 to C$40.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Finally, TD Securities lifted their price objective on shares of Saputo from C$44.00 to C$49.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Saputo currently has an average rating of “Moderate Buy” and an average price target of C$41.75.

Saputo Stock Up 1.6%

Shares of Saputo stock traded up C$0.66 on Friday, hitting C$41.80. The company had a trading volume of 159,327 shares, compared to its average volume of 782,672. The stock has a market capitalization of C$17.14 billion, a price-to-earnings ratio of -209.00, a P/E/G ratio of 0.56 and a beta of 0.18. The company has a debt-to-equity ratio of 51.68, a quick ratio of 0.67 and a current ratio of 1.53. Saputo has a 1 year low of C$23.10 and a 1 year high of C$42.30. The stock has a 50 day moving average of C$40.24 and a 200-day moving average of C$35.21.

Saputo (TSE:SAP) last issued its quarterly earnings data on Thursday, November 6th. The company reported C$0.45 earnings per share for the quarter. Saputo had a negative return on equity of 2.20% and a negative net margin of 0.84%.The business had revenue of C$4.72 billion for the quarter. As a group, sell-side analysts forecast that Saputo will post 1.7735369 earnings per share for the current year.

Saputo Company Profile

Saputo is a global dairy processor domiciled in Canada (28% of fiscal 2022 sales) with operations in the United States (43%), the U.K. (6%), and other international markets (23%). It sells cheese, cream, fluid milk, and other dairy products. In the retail segment (50% of revenue), its mix of brands include Saputo, Armstrong, Cheer, Cathedral City, and Frylight. Saputo also competes in food service (30% of revenue) and industrials (20% of revenue), which houses its ingredients business.