High Liner Foods (TSE:HLF) Cut to Tender at ATB Cormark Capital Markets

Key Points

• ATB Cormark downgraded High Liner Foods from “speculative buy” to “tender,” while raising its price target from C$21.00 to C$27.00—just 0.82% above the current price.
• Analyst sentiment remains cautious: six analysts rate the stock “Hold,” with a consensus price target of C$21.69. RBC also raised its target to C$27.00, while Ventum Capital maintained a neutral view with a C$16.50 target.
• High Liner shares traded near their one-year high at C$26.78, up 0.1%, after reporting quarterly revenue of C$382.35 million and earnings of C$0.63 per share.

High Liner Foods (TSE:HLF - Get Free Report) was downgraded by investment analysts at ATB Cormark Capital Markets from a "speculative buy" rating to a "tender" rating in a research note issued on Tuesday, BayStreet reports. They presently have a C$27.00 price objective on the stock, up from their previous price objective of C$21.00. ATB Cormark Capital Markets's target price indicates a potential upside of 0.82% from the stock's current price.

Several other equities research analysts have also weighed in on HLF. Ventum Capital set a C$16.50 price target on High Liner Foods and gave the company a "neutral" rating in a research report on Wednesday, October 21st. RBC Dominion Securities increased their price objective on High Liner Foods from C$18.00 to C$27.00 and gave the stock a "sector perform" rating in a report on Tuesday. Six analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of C$21.69.

High Liner Foods Trading Up 0.1%

TSE HLF traded up C$0.02 during trading on Tuesday, hitting C$26.78. The company had a trading volume of 315,786 shares, compared to its average volume of 39,518. The company has a current ratio of 2.29, a quick ratio of 0.38 and a debt-to-equity ratio of 80.12. High Liner Foods has a one year low of C$13.13 and a one year high of C$26.83. The company has a market cap of C$749.97 million, a price-to-earnings ratio of 30.43 and a beta of 0.57. The company's fifty day moving average is C$14.86 and its 200-day moving average is C$14.87.

High Liner Foods (TSE:HLF - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported C$0.63 earnings per share (EPS) for the quarter. High Liner Foods had a net margin of 2.30% and a return on equity of 6.30%. The company had revenue of C$382.35 million during the quarter. During the same period in the previous year, the company earned $0.28 earnings per share. On average, sell-side analysts predict that High Liner Foods will post 1.99 earnings per share for the current year.

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.

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