High Liner Foods (TSE:HLF) Sets New 12-Month High – Should You Buy?

High Liner Foods Inc (TSE:HLF) shares reached a new 52-week high on Tuesday. The company traded as high as C$26.83 and last traded at C$26.80, with a volume of 34,023 shares trading hands. The stock had previously closed at C$26.78.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. RBC Dominion Securities increased their price target on High Liner Foods from C$18.00 to C$27.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 27th. Ventum boosted their price target on shares of High Liner Foods from C$16.50 to C$27.00 and gave the company a “neutral” rating in a report on Tuesday, October 27th. Canaccord Genuity Group downgraded High Liner Foods from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 26th. Ventum Capital set a C$16.50 target price on shares of High Liner Foods and gave the company a “neutral” rating in a research note on Wednesday, October 21st. Finally, ATB Cormark Capital Markets cut High Liner Foods from a “speculative buy” rating to a “tender” rating and boosted their price target for the company from C$21.00 to C$27.00 in a research note on Tuesday, October 27th. Seven investment analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$21.69.

High Liner Foods Stock Performance

The firm’s fifty day moving average price is C$15.99 and its 200-day moving average price is C$15.16. The company has a current ratio of 2.29, a quick ratio of 0.38 and a debt-to-equity ratio of 80.12. The company has a market cap of C$749.97 million, a P/E ratio of 30.43 and a beta of 0.57.

High Liner Foods (TSE:HLF) last issued its earnings results on Thursday, August 13th. The company reported C$0.63 earnings per share for the quarter. High Liner Foods had a net margin of 2.30% and a return on equity of 6.30%. The business had revenue of C$382.35 million for the quarter. During the same quarter last year, the firm posted $0.28 earnings per share. As a group, research analysts forecast that High Liner Foods Inc will post 1.99 EPS for the current fiscal year.

High Liner Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 15th were issued a dividend of $0.1750 per share. This represents a $0.70 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, September 1st. High Liner Foods’s payout ratio is currently 57.23%.

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. They also sell branded products under the High Liner, Icelandic Seafood, and FPI labels to restaurants and institutions, and are a major supplier of private-label, value-added frozen seafood products to North American food retailers and foodservice distributors.