CIBC Cuts Saputo (TSE:SAP) Price Target to C$35.00

Saputo (TSE:SAP) had its price objective cut by CIBC from C$37.00 to C$35.00 in a report issued on Monday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s price target would indicate a potential upside of 20.52% from the stock’s previous close.

Several other research analysts have also recently issued reports on the company. BMO Capital Markets raised their target price on Saputo from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Monday, June 10th. Desjardins raised their price objective on shares of Saputo from C$33.00 to C$35.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Royal Bank of Canada upped their target price on shares of Saputo from C$36.00 to C$39.00 and gave the company an “outperform” rating in a report on Tuesday, June 4th. TD Securities lifted their price target on shares of Saputo from C$36.00 to C$37.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Finally, National Bankshares upped their price objective on Saputo from C$35.00 to C$36.00 in a research note on Friday, July 12th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Saputo presently has a consensus rating of “Buy” and an average price target of C$35.50.

Saputo Stock Down 5.2 %

SAP traded down C$1.60 during midday trading on Monday, reaching C$29.04. The company’s stock had a trading volume of 247,620 shares, compared to its average volume of 414,125. Saputo has a 1 year low of C$25.28 and a 1 year high of C$32.15. The stock’s 50-day moving average is C$30.58 and its 200-day moving average is C$28.31. The firm has a market capitalization of C$12.32 billion, a price-to-earnings ratio of 37.08, a PEG ratio of 0.21 and a beta of 0.32. The company has a current ratio of 1.55, a quick ratio of 0.67 and a debt-to-equity ratio of 58.27.

Saputo (TSE:SAP) last posted its quarterly earnings results on Thursday, June 6th. The company reported C$0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of C$0.37. Saputo had a return on equity of 4.76% and a net margin of 1.92%. The firm had revenue of C$4.55 billion during the quarter, compared to analyst estimates of C$4.25 billion. As a group, research analysts expect that Saputo will post 1.915804 EPS for the current year.

Insider Activity at Saputo

In related news, Senior Officer Richard Wallace purchased 4,950 shares of Saputo stock in a transaction on Wednesday, June 26th. The shares were bought at an average cost of C$30.48 per share, for a total transaction of C$150,899.76. In related news, Senior Officer Sindy Saragoca purchased 1,361 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were bought at an average price of C$29.39 per share, for a total transaction of C$39,999.79. Also, Senior Officer Richard Wallace purchased 4,950 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was bought at an average price of C$30.48 per share, with a total value of C$150,899.76. 42.11% of the stock is owned by corporate insiders.

Saputo Company Profile

Saputo Inc produces, markets, and distributes dairy products in Canada, the United States, Argentina, Australia, and the United Kingdom. The company offers cheeses, including mozzarella and cheddar; specialty cheeses, such as ricotta, provolone, blue, parmesan, goat cheese, feta, romano, and havarti; fine cheeses comprising brie and camembert; and other cheeses that include brick, colby, farmer, munster, monterey jack, fresh curd, and processed cheeses.