High Liner Foods (TSE:HLF) Given New C$27.00 Price Target at Ventum

Key Points

• Ventum raised High Liner Foods’ price target to C$27.00 from C$16.50 while maintaining a “neutral” rating, implying about 0.82% upside from the prior close.
• Analyst sentiment remains cautious: six analysts rate the stock “Hold,” with an average target price of C$21.69. RBC also set a C$27.00 target, while ATB Cormark downgraded the stock to “tender.”
• High Liner shares traded near their 52-week high at C$26.78, with significantly higher-than-average volume. The company reported quarterly EPS of C$0.63 on revenue of C$382.35 million.

High Liner Foods (TSE:HLF - Get Free Report) had its price target raised by Ventum from C$16.50 to C$27.00 in a note issued to investors on Tuesday, BayStreet reports. The brokerage currently has a "neutral" rating on the stock. Ventum's price target would suggest a potential upside of 0.82% from the company's previous close.

HLF has been the topic of a number of other reports. RBC Dominion Securities raised their price target on shares of High Liner Foods from C$18.00 to C$27.00 and gave the stock a "sector perform" rating in a research report on Tuesday. Ventum Capital set a C$16.50 price objective on shares of High Liner Foods and gave the company a "neutral" rating in a research report on Wednesday, October 21st. Finally, ATB Cormark Capital Markets lowered shares of High Liner Foods from a "speculative buy" rating to a "tender" rating and increased their price objective for the stock from C$21.00 to C$27.00 in a research note on Tuesday. Six investment analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of C$21.69.

High Liner Foods Stock Performance

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

High Liner Foods (TSE:HLF - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported C$0.63 earnings per share (EPS) for the quarter. The business had revenue of C$382.35 million for the quarter. High Liner Foods had a return on equity of 6.30% and a net margin of 2.30%. During the same period in the prior year, the company posted $0.28 earnings per share. On average, equities analysts expect 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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