Royal Bank of Canada Lowers Saputo (SAP) Price Target to C$48.00

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Saputo (TSE:SAP) had its price objective dropped by research analysts at Royal Bank of Canada from C$49.00 to C$48.00 in a research note issued on Monday, October 15th. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 23.58% from the stock’s previous close.

Several other brokerages have also issued reports on SAP. National Bank Financial increased their price target on Saputo from C$45.00 to C$46.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 1st. CIBC dropped their target price on Saputo from C$50.00 to C$47.00 in a report on Wednesday, August 8th. Finally, Desjardins upgraded Saputo from a “hold” rating to a “buy” rating and set a C$45.00 target price on the stock in a report on Wednesday, September 12th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Saputo has a consensus rating of “Hold” and an average price target of C$45.57.

Shares of SAP stock traded up C$0.14 on Monday, hitting C$38.84. The company had a trading volume of 379,100 shares, compared to its average volume of 419,527. The company has a debt-to-equity ratio of 58.46, a current ratio of 1.65 and a quick ratio of 0.69. Saputo has a twelve month low of C$35.56 and a twelve month high of C$46.32.

Saputo (TSE:SAP) last announced its earnings results on Tuesday, August 7th. The company reported C$0.41 EPS for the quarter, missing the consensus estimate of C$0.48 by C($0.07). The company had revenue of C$3.27 billion during the quarter, compared to the consensus estimate of C$3.32 billion. Research analysts expect that Saputo will post 2.05999975514215 earnings per share for the current year.

About Saputo

Saputo Inc produces, markets, and distributes dairy products in Canada, the United States, Argentina, Australia, and internationally. It offers cheese products, including mozzarella and cheddar; specialty cheese, such as ricotta, provolone, parmesan, goat cheese, feta, and havarti; fine cheese, such as brie and camembert; other cheese, including brick, colby, farmer, munster, monterey jack, fresh curd, and processed cheese; and butter.

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Analyst Recommendations for Saputo (TSE:SAP)

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