High Liner Foods (TSE:HLF) Stock Gets Downgrade from Canaccord Genuity Group

High Liner Foods (TSE:HLF) was downgraded by research analysts at Canaccord Genuity Group from a “strong-buy” rating to a “hold” rating in a report issued on Monday, Zacks reports.

A number of other research firms also recently issued reports on HLF. Raymond James Financial lifted their price objective on High Liner Foods from C$16.50 to C$27.00 and gave the stock a “market perform” rating in a research note on Tuesday. Ventum Capital set a C$16.50 target price on High Liner Foods and gave the company a “neutral” rating in a research report on Wednesday, October 21st. ATB Cormark Capital Markets lowered shares of High Liner Foods from a “speculative buy” rating to a “tender” rating and raised their target price for the company from C$21.00 to C$27.00 in a report on Tuesday. RBC Dominion Securities raised their target price on shares of High Liner Foods from C$18.00 to C$27.00 and gave the company a “sector perform” rating in a report on Tuesday. Finally, Ventum boosted their price target on shares of High Liner Foods from C$16.50 to C$27.00 and gave the stock a “neutral” rating in a research report on Tuesday. Seven analysts have rated the stock with a Hold rating. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$21.69.

High Liner Foods Price Performance

TSE HLF opened at C$26.75 on Monday. The company has a 50-day moving average price of C$15.08 and a 200-day moving average price of C$14.93. High Liner Foods has a 52 week low of C$13.13 and a 52 week high of C$26.83. The company has a quick ratio of 0.38, a current ratio of 2.29 and a debt-to-equity ratio of 80.12. The firm has a market capitalization of C$749.13 million, a P/E ratio of 30.40 and a beta of 0.57.

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

High Liner Foods News Summary

Here are the key news stories impacting High Liner Foods this week:

• Positive Sentiment: High Liner Foods agreed to be acquired by Japanese seafood company Umios for C$27.00 per share in cash, valuing the transaction at approximately C$804 million. The offer represents a substantial premium to the company’s pre-deal trading level and provides shareholders with a defined cash exit, subject to customary closing conditions and approvals. High Liner Foods Enters into Agreement to Be Acquired by Umios for C$27.00 per Share in Cash High Liner Foods to be bought by Umios in deal valued at $804M
• Neutral Sentiment: RBC Dominion Securities raised its price target from C$18.00 to C$27.00 but maintained a “sector perform” rating. Because the target is only about 0.9% above the referenced trading price, the revised valuation suggests limited additional upside beyond the acquisition consideration. RBC Dominion Securities stock recommendations
• Neutral Sentiment: Ventum and Raymond James also lifted their price targets to C$27.00 from C$16.50, while retaining “neutral” and “market perform” ratings, respectively. The moves reflect alignment with the takeover price rather than expectations for significant independent upside. Ventum stock recommendations Raymond James stock recommendations
• Negative Sentiment: ATB Cormark downgraded High Liner Foods from “speculative buy” to “tender,” despite increasing its price target to C$27.00 from C$21.00. The downgrade reflects the limited remaining upside and shifts the investment case toward tendering shares into the acquisition. ATB Cormark Capital Markets stock recommendations

About High Liner Foods

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.