Scotiabank Forecasts Strong Price Appreciation for Saputo (TSE:SAP) Stock

Saputo (TSE:SAP) had its target price increased by equities researchers at Scotiabank from C$47.00 to C$49.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Scotiabank’s target price suggests a potential upside of 15.19% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Canadian Imperial Bank of Commerce lifted their price target on Saputo from C$40.00 to C$44.00 in a research note on Friday, January 30th. Royal Bank Of Canada raised their target price on shares of Saputo from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a report on Sunday, February 8th. Desjardins boosted their price target on shares of Saputo from C$45.00 to C$47.00 and gave the company a “buy” rating in a report on Monday. National Bank Financial upped their price target on shares of Saputo from C$45.00 to C$46.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Jefferies Financial Group raised their price objective on shares of Saputo from C$38.00 to C$40.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Saputo presently has a consensus rating of “Moderate Buy” and a consensus price target of C$46.13.

Saputo Price Performance

SAP stock traded down C$1.04 on Friday, hitting C$42.54. 643,663 shares of the company’s stock traded hands, compared to its average volume of 853,207. The company has a current ratio of 1.53, a quick ratio of 0.67 and a debt-to-equity ratio of 51.68. The stock has a market cap of C$17.24 billion, a price-to-earnings ratio of 27.27, a P/E/G ratio of 0.56 and a beta of 0.04. Saputo has a 1-year low of C$23.94 and a 1-year high of C$44.00. The stock has a fifty day moving average of C$41.18 and a 200-day moving average of C$36.66.

Saputo (TSE:SAP) last released its quarterly earnings data on Thursday, February 5th. The company reported C$0.57 earnings per share for the quarter. The business had revenue of C$4.89 billion during the quarter. Saputo had a negative return on equity of 2.20% and a negative net margin of 0.84%. On average, analysts forecast that Saputo will post 1.7735369 EPS 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.