Brokerages Set Saputo Inc. (TSE:SAP) Price Target at C$34.64

Saputo Inc. (TSE:SAP) has been given an average rating of “Moderate Buy” by the seven research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is C$34.64.

SAP has been the topic of several research reports. CIBC dropped their price objective on shares of Saputo from C$37.00 to C$35.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. National Bankshares cut their price target on Saputo from C$36.00 to C$35.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. BMO Capital Markets downgraded Saputo from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from C$35.00 to C$30.00 in a report on Tuesday, October 15th. Finally, Royal Bank of Canada cut their target price on Saputo from C$39.00 to C$38.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th.

Saputo Price Performance

Saputo stock opened at C$26.77 on Friday. The stock has a market capitalization of C$11.36 billion, a price-to-earnings ratio of 42.43, a PEG ratio of 0.56 and a beta of 0.32. Saputo has a 52-week low of C$25.28 and a 52-week high of C$32.15. The company has a debt-to-equity ratio of 53.17, a quick ratio of 0.67 and a current ratio of 1.59. The stock’s 50 day moving average price is C$28.60 and its two-hundred day moving average price is C$29.02.

Saputo (TSE:SAP) last issued its earnings results on Thursday, August 8th. The company reported C$0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.37 by C$0.02. Saputo had a net margin of 1.50% and a return on equity of 3.72%. The business had revenue of C$4.61 billion for the quarter, compared to analyst estimates of C$4.44 billion. On average, equities analysts predict that Saputo will post 1.7735369 earnings per share for the current year.

Saputo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 20th were given a $0.19 dividend. This is a positive change from Saputo’s previous quarterly dividend of $0.19. This represents a $0.76 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend was Tuesday, September 10th. Saputo’s dividend payout ratio is presently 120.63%.

Insider Buying and Selling at Saputo

In other news, Senior Officer Martin Gagnon purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were bought at an average cost of C$29.73 per share, with a total value of C$59,450.00. In other Saputo news, Senior Officer Martin Gagnon bought 2,000 shares of Saputo stock in a transaction dated Tuesday, August 20th. The stock was bought at an average cost of C$29.73 per share, with a total value of C$59,450.00. Also, Senior Officer Carl Colizza purchased 6,800 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average cost of C$29.43 per share, with a total value of C$200,124.00. Company insiders own 40.45% of the company’s stock.

About Saputo

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.