Saputo (TSE:SAP) Stock Price Expected to Rise, Scotiabank Analyst Says

Saputo (TSE:SAP) had its price objective hoisted by investment analysts at Scotiabank from C$36.00 to C$37.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Scotiabank’s target price indicates a potential upside of 10.35% from the company’s current price.

Several other analysts have also weighed in on the stock. Royal Bank Of Canada raised their price objective on shares of Saputo from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. TD Securities raised their price target on shares of Saputo from C$35.00 to C$38.00 and gave the company a “buy” rating in a report on Monday, August 11th. National Bankshares raised their price target on shares of Saputo from C$29.00 to C$35.00 and gave the company an “outperform” rating in a report on Monday, August 11th. BMO Capital Markets raised their price target on shares of Saputo from C$27.00 to C$34.00 in a report on Monday, August 11th. Finally, Desjardins raised their price target on shares of Saputo from C$31.00 to C$36.00 and gave the company a “buy” rating in a report on Monday, August 11th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$34.75.

Saputo Stock Performance

TSE SAP opened at C$33.53 on Wednesday. The firm has a market cap of C$13.82 billion, a price-to-earnings ratio of -98.62, a PEG ratio of 0.56 and a beta of 0.07. The company has a 50 day moving average of C$33.16 and a 200-day moving average of C$28.86. The company has a current ratio of 1.53, a quick ratio of 0.67 and a debt-to-equity ratio of 51.68. Saputo has a 1-year low of C$22.59 and a 1-year high of C$34.75.

Insider Buying and Selling

In other Saputo news, insider Leanne Cutts bought 4,000 shares of the stock in a transaction on Friday, August 15th. The stock was purchased at an average price of C$32.93 per share, with a total value of C$131,720.00. Following the acquisition, the insider owned 23,500 shares of the company’s stock, valued at approximately C$773,855. The trade was a 20.51% increase in their ownership of the stock. Corporate insiders own 40.45% of the company’s stock.

Saputo Company Profile

Saputo is a global dairy processor domiciled in Canada (28% of fiscal 2022 sales) with operations in the United States (43%), the U.K. (6%), and other international markets (23%). It sells cheese, cream, fluid milk, and other dairy products. In the retail segment (50% of revenue), its mix of brands include Saputo, Armstrong, Cheer, Cathedral City, and Frylight.