Royal Bank of Canada Cuts High Liner Foods (TSE:HLF) Price Target to C$13.00

High Liner Foods (TSE:HLF) had its price target reduced by Royal Bank of Canada from C$15.00 to C$13.00 in a research report sent to investors on Friday, BayStreet.CA reports. They currently have a sector perform rating on the stock.

Several other research analysts have also recently issued reports on HLF. Cormark cut their target price on High Liner Foods from C$21.00 to C$17.00 in a research report on Friday. BMO Capital Markets set a C$12.00 target price on High Liner Foods and gave the company a market perform rating in a research report on Monday, October 16th.

High Liner Foods Stock Up 2.3 %

Shares of TSE:HLF opened at C$10.38 on Friday. The stock has a market cap of C$346.28 million, a price-to-earnings ratio of 6.41 and a beta of 0.68. The company has a quick ratio of 0.38, a current ratio of 2.13 and a debt-to-equity ratio of 87.75. High Liner Foods has a 12-month low of C$10.11 and a 12-month high of C$15.87. The business’s 50 day moving average is C$10.99 and its 200 day moving average is C$12.86.

High Liner Foods Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.15 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.60 annualized dividend and a yield of 5.78%. This is a boost from High Liner Foods’s previous quarterly dividend of $0.13. High Liner Foods’s payout ratio is currently 32.10%.

Insiders Place Their Bets

In other High Liner Foods news, insider High Liner Foods Incorporated acquired 3,400 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were acquired at an average price of C$12.00 per share, with a total value of C$40,811.90. Over the last quarter, insiders have acquired 19,600 shares of company stock valued at $229,376. Insiders own 39.60% of the company’s stock.

High Liner Foods Company Profile

High Liner Foods is the leading North American processor and marketer of value-added frozen seafood. Their retail branded products are sold throughout the United States, Canada and Mexico under the High Liner, Fisher Boy, Sea Cuisine and C. Wirthy & Co labels, and are available in most grocery and club stores.