High Liner Foods (TSE:HLF) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• High Liner Foods' shares crossed above their 200-day moving average, reaching a high of C$17.37 during trading.
• Analysts have raised their price targets for High Liner Foods, with estimates now ranging from C$21.00 to C$22.00, indicating a positive outlook.
• The company has a market cap of C$356.93 million and a low P/E ratio of 6.04, suggesting it could be undervalued compared to its earnings.

High Liner Foods Inc (TSE:HLF - Get Free Report) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$17.06 and traded as high as C$17.37. High Liner Foods shares last traded at C$17.03, with a volume of 14,028 shares.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. BMO Capital Markets upped their price target on High Liner Foods from C$19.50 to C$21.00 in a research report on Wednesday, July 2nd. Raymond James Financial set a C$22.00 target price on shares of High Liner Foods and gave the stock an "outperform" rating in a report on Tuesday, June 17th. Royal Bank Of Canada lifted their price target on shares of High Liner Foods from C$20.00 to C$21.00 and gave the company a "sector perform" rating in a report on Monday, June 9th. Finally, Canaccord Genuity Group set a C$21.00 price objective on shares of High Liner Foods and gave the stock a "buy" rating in a research note on Thursday, May 22nd.

High Liner Foods Price Performance

The company has a market capitalization of C$356.09 million, a P/E ratio of 6.03 and a beta of 0.89. The business has a 50 day simple moving average of C$17.93 and a 200-day simple moving average of C$17.08. The company has a quick ratio of 0.38, a current ratio of 2.66 and a debt-to-equity ratio of 55.83.

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.