ATB Cormark Capital Markets Issues Pessimistic Forecast for High Liner Foods (TSE:HLF) Stock Price

Key Points

• ATB Cormark cut its price target for High Liner Foods from C$24.00 to C$19.50 and kept a "speculative buy" rating, with the new target implying roughly a 39.8% upside from the current share price.
• Shares traded at C$13.95 and sit below the 50- and 200-day moving averages; the company has a market cap of C$394.8M, a P/E of 11.4, high debt-to-equity (73.59) and a weak quick ratio (0.38), while recent quarterly EPS was C$0.36 with a net margin of 3.56%.

High Liner Foods (TSE:HLF - Get Free Report) had its price target reduced by stock analysts at ATB Cormark Capital Markets from C$24.00 to C$19.50 in a research note issued on Monday,BayStreet.CA reports. The firm presently has a "speculative buy" rating on the stock. ATB Cormark Capital Markets' price objective points to a potential upside of 39.78% from the stock's current price.

High Liner Foods Stock Performance

Shares of TSE:HLF traded down C$0.40 on Monday, hitting C$13.95. 27,729 shares of the company were exchanged, compared to its average volume of 30,795. The company's 50 day moving average price is C$15.70 and its two-hundred day moving average price is C$15.35. The firm has a market capitalization of C$394.76 million, a price-to-earnings ratio of 11.43 and a beta of 0.64. The company has a debt-to-equity ratio of 73.59, a quick ratio of 0.38 and a current ratio of 2.18. High Liner Foods has a one year low of C$13.13 and a one year high of C$19.07.

High Liner Foods (TSE:HLF - Get Free Report) last released its earnings results on Wednesday, February 25th. The company reported C$0.36 earnings per share for the quarter. High Liner Foods had a net margin of 3.56% and a return on equity of 8.89%. The business had revenue of C$355.65 million during the quarter. Research analysts expect that High Liner Foods will post 1.9858934 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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