High Liner Foods (TSE:HLF) Stock Price Target Raised at Raymond James Financial

Key Points

• Raymond James raised High Liner Foods’ price target from C$16.50 to C$27.00 while maintaining a “market perform” rating, implying roughly 0.82% upside from the prior close.
• Other analysts also set or increased targets to C$27.00, but the overall consensus remains “Hold”, with six analysts issuing Hold ratings and a consensus target of C$21.69.
• High Liner Foods shares rose 0.1% to C$26.78, near their 12-month high of C$26.83. The company reported C$0.63 quarterly EPS on C$382.35 million in revenue, while analysts forecast C$1.99 EPS for the full year.

High Liner Foods (TSE:HLF - Get Free Report) had its price target increased by equities researchers at Raymond James Financial from C$16.50 to C$27.00 in a note issued to investors on Tuesday, BayStreet reports. The brokerage currently has a "market perform" rating on the stock. Raymond James Financial's target price suggests a potential upside of 0.82% from the stock's previous close.

Several other research firms have also recently weighed in on HLF. Ventum Capital set a C$16.50 target price on shares of High Liner Foods and gave the company a "neutral" rating in a research note on Wednesday, October 21st. RBC Dominion Securities boosted their price objective 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 note on Tuesday. Ventum upped their target price on shares of High Liner Foods from C$16.50 to C$27.00 and gave the company a "neutral" rating in a report on Tuesday. Finally, ATB Cormark Capital Markets downgraded shares of High Liner Foods from a "speculative buy" rating to a "tender" rating and raised their target price for the company 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 MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of C$21.69.

High Liner Foods Stock Up 0.1%

High Liner Foods stock traded up C$0.02 during mid-day trading on Tuesday, reaching C$26.78. The company's stock had a trading volume of 315,786 shares, compared to its average volume of 39,518. The company has a debt-to-equity ratio of 80.12, a quick ratio of 0.38 and a current ratio of 2.29. High Liner Foods has a 12 month low of C$13.13 and a 12 month high of C$26.83. The business's 50 day simple moving average is C$14.86 and its 200 day simple moving average is C$14.87. The company has a market capitalization of C$749.97 million, a price-to-earnings ratio of 30.43 and a beta of 0.57.

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

About High Liner Foods

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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