TD Securities Issues Pessimistic Forecast for Saputo (TSE:SAP) Stock Price

Saputo (TSE:SAP) had its price objective cut by analysts at TD Securities from C$37.00 to C$35.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ price objective indicates a potential upside of 43.68% from the stock’s current price.

Several other brokerages have also commented on SAP. National Bankshares cut their price objective on Saputo from C$31.00 to C$28.00 in a report on Wednesday, January 15th. Royal Bank of Canada decreased their price target on shares of Saputo from C$38.00 to C$35.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. BMO Capital Markets cut their target price on shares of Saputo from C$30.00 to C$27.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. CIBC reduced their target price on Saputo from C$32.00 to C$29.00 in a research note on Monday, February 10th. Finally, Jefferies Financial Group dropped their price target on Saputo from C$36.00 to C$32.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$31.00.

Saputo Price Performance

TSE:SAP traded down C$0.74 during trading hours on Friday, hitting C$24.36. The stock had a trading volume of 281,429 shares, compared to its average volume of 791,121. The company has a 50 day simple moving average of C$24.64 and a two-hundred day simple moving average of C$26.19. The firm has a market capitalization of C$10.27 billion, a price-to-earnings ratio of -65.22, a P/E/G ratio of 0.56 and a beta of 0.32. The company has a debt-to-equity ratio of 51.68, a current ratio of 1.53 and a quick ratio of 0.67. Saputo has a one year low of C$22.59 and a one year high of C$32.15.

About Saputo

Saputo Inc produces, markets, and distributes dairy products in Canada, the United States, Argentina, Australia, and the United Kingdom. The company offers cheeses, including mozzarella and cheddar; specialty cheeses, such as ricotta, provolone, blue, parmesan, goat cheese, feta, romano, and havarti; fine cheeses comprising brie and camembert; and other cheeses that include brick, colby, farmer, munster, monterey jack, fresh curd, and processed cheeses.