Saputo (TSE:SAP) Price Target Raised to C$37.00 at Royal Bank Of Canada

Key Points

• The Royal Bank of Canada has increased its price target for Saputo stock from C$35.00 to C$37.00, suggesting a potential upside of 17.05% from the current price.
• Despite mixed ratings from other analysts, the consensus rating for Saputo stock is a "Moderate Buy" with an average target price of C$31.13.
• Saputo's shares have seen trading activity with a recent increase to C$31.61, marking a significant rise from a twelve-month low of C$22.59.

Saputo (TSE:SAP - Get Free Report) had its price target raised by equities research analysts at Royal Bank Of Canada from C$35.00 to C$37.00 in a report released on Friday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's target price suggests a potential upside of 14.69% from the stock's current price.

Several other equities research analysts also recently issued reports on the stock. Scotiabank lowered their price objective on shares of Saputo from C$30.00 to C$29.00 and set an "outperform" rating on the stock in a research note on Monday, June 9th. National Bankshares raised their price objective on shares of Saputo from C$28.00 to C$29.00 and gave the stock an "outperform" rating in a research note on Monday, June 9th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of C$34.63.

Saputo Stock Performance

SAP stock traded up C$0.19 during midday trading on Friday, hitting C$32.26. 109,708 shares of the company traded hands, compared to its average volume of 681,736. Saputo has a twelve month low of C$22.59 and a twelve month high of C$32.91. The company has a quick ratio of 0.67, a current ratio of 1.53 and a debt-to-equity ratio of 51.68. The business has a 50 day simple moving average of C$27.87 and a 200-day simple moving average of C$26.23. The stock has a market capitalization of C$13.60 billion, a price-to-earnings ratio of -86.37, a price-to-earnings-growth ratio of 0.56 and a beta of 0.32.

About Saputo

Saputo is a global dairy processor domiciled in Canada (28% of fiscal 2022 sales) with operations in the United States (43%), the U.K. (6%), and other international markets (23%). It sells cheese, cream, fluid milk, and other dairy products. In the retail segment (50% of revenue), its mix of brands include Saputo, Armstrong, Cheer, Cathedral City, and Frylight.