Saputo (SAP) Price Target Lowered to C$48.00 at Royal Bank of Canada

Saputo (TSE:SAP) had its price objective reduced by investment analysts at Royal Bank of Canada from C$49.00 to C$48.00 in a report released on Friday. Royal Bank of Canada’s price objective would suggest a potential upside of 16.08% from the company’s previous close.

Several other equities research analysts have also weighed in on SAP. Desjardins lowered Saputo from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. National Bank Financial cut their price target on Saputo from C$50.00 to C$49.00 and set a “sector perform” rating on the stock in a research report on Sunday, November 5th. TD Securities lifted their price target on Saputo from C$49.00 to C$52.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Scotiabank cut their price target on Saputo from C$58.00 to C$57.00 and set an “outperform” rating on the stock in a research report on Friday, November 3rd. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a C$47.00 price target on shares of Saputo in a research report on Friday, October 27th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of C$49.00.

Shares of Saputo (TSE SAP) traded up C$0.10 during midday trading on Friday, hitting C$41.35. The stock had a trading volume of 602,979 shares, compared to its average volume of 400,944. Saputo has a 1-year low of C$39.74 and a 1-year high of C$47.59. The firm has a market cap of $16,010.00, a price-to-earnings ratio of 18.31 and a beta of -0.03.

Saputo (TSE:SAP) last issued its earnings results on Thursday, November 2nd. The company reported C$0.47 earnings per share for the quarter, missing the consensus estimate of C$0.53 by C($0.06). Saputo had a return on equity of 17.20% and a net margin of 6.42%.

In other news, Director Paul Corney sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of C$44.00, for a total value of C$88,000.00.

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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).

Analyst Recommendations for Saputo (TSE:SAP)

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