Saputo Inc. (SAP) Lifted to Outperform at Royal Bank Of Canada
Saputo Inc. (TSE:SAP) was upgraded by investment analysts at Royal Bank Of Canada from a “sector perform” rating to an “outperform” rating in a note issued to investors on Wednesday. The brokerage currently has a C$48.00 price objective on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 18.75% from the company’s previous close.
A number of other equities research analysts also recently issued reports on the company. TD Securities lowered their price objective on Saputo from C$49.00 to C$48.00 and set a “hold” rating on the stock in a research report on Friday, June 2nd. CIBC lowered their price objective on Saputo from C$54.00 to C$51.00 in a research report on Friday, June 2nd. Desjardins upgraded Saputo from a “hold” rating to a “buy” rating and set a C$47.00 price objective on the stock in a research report on Friday, June 2nd. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a C$48.00 price objective on shares of Saputo in a research report on Thursday, April 13th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of C$48.86.
Shares of Saputo (SAP) traded up 4.87% during trading on Wednesday, hitting $42.39. The stock had a trading volume of 784,266 shares. The firm’s 50 day moving average is $41.97 and its 200 day moving average is $44.79. The company has a market cap of $16.36 billion and a PE ratio of 23.04. Saputo has a 1-year low of $38.41 and a 1-year high of $48.98.
Saputo (TSE:SAP) last issued its quarterly earnings data on Thursday, June 1st. The company reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by $0.06. Saputo had a return on equity of 15.26% and a net margin of 6.07%. The business had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Equities research analysts anticipate that Saputo will post $2.04 EPS for the current fiscal year.
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In other news, Director Diane Nyisztor purchased 1,000 shares of the stock in a transaction on Wednesday, June 14th. The shares were acquired at an average price of C$41.93 per share, for a total transaction of C$41,930.00. Insiders have acquired 2,190 shares of company stock worth $93,037 in the last 90 days.
Saputo Company Profile
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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