CIBC Increases Saputo (TSE:SAP) Price Target to C$44.00

Saputo (TSE:SAP) had its target price boosted by investment analysts at CIBC from C$40.00 to C$44.00 in a note issued to investors on Friday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 7.58% from the company’s previous close.

SAP has been the subject of several other research reports. Desjardins raised their price objective on shares of Saputo from C$40.00 to C$45.00 and gave the company a “buy” rating in a research report on Friday, December 19th. National Bankshares lifted their price target on shares of Saputo from C$38.00 to C$45.00 and gave the company an “outperform” rating in a report on Thursday, January 22nd. BMO Capital Markets raised their price objective on shares of Saputo from C$37.00 to C$41.00 and gave the company a “market perform” rating in a research note on Friday, January 23rd. Scotiabank boosted their price objective on Saputo from C$36.00 to C$37.00 and gave the company an “outperform” rating in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group increased their target price on shares of Saputo from C$38.00 to C$40.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Six research 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 has an average rating of “Moderate Buy” and an average target price of C$42.25.

Saputo Price Performance

Shares of Saputo stock traded down C$0.54 during trading hours on Friday, reaching C$40.90. 350,408 shares of the company’s stock were exchanged, compared to its average volume of 788,814. Saputo has a 1 year low of C$23.10 and a 1 year high of C$42.30. The company has a market capitalization of C$16.77 billion, a P/E ratio of -204.50, a price-to-earnings-growth ratio of 0.56 and a beta of 0.18. The company has a quick ratio of 0.67, a current ratio of 1.53 and a debt-to-equity ratio of 51.68. The business has a fifty day moving average of C$40.57 and a two-hundred day moving average of C$35.69.

Saputo (TSE:SAP) last issued its earnings results on Thursday, November 6th. The company reported C$0.45 earnings per share for the quarter. The business had revenue of C$4.72 billion for the quarter. Saputo had a negative return on equity of 2.20% and a negative net margin of 0.84%. As a group, research analysts predict that Saputo will post 1.7735369 earnings per share for the current fiscal year.

About Saputo

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. Saputo also competes in food service (30% of revenue) and industrials (20% of revenue), which houses its ingredients business.