Saputo (TSE:SAP) Given New C$37.00 Price Target at Scotiabank

Key Points

• Scotiabank has increased its price target for Saputo from C$36.00 to C$37.00, indicating a potential upside of 10.28% from the current price.
• A total of six analysts have given Saputo a "Buy" rating, with the stock receiving a consensus rating of "Moderate Buy" and an average target price set at C$34.75.
• Insider Leanne Cutts purchased 4,000 shares at an average cost of C$32.93, increasing her position in the company by 20.51%.

Saputo (TSE:SAP - Get Free Report) had its price target boosted by analysts at Scotiabank from C$36.00 to C$37.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Scotiabank's target price points to a potential upside of 10.28% from the stock's current price.

A number of other research firms have also recently commented on SAP. TD Securities upped their price objective on shares of Saputo from C$35.00 to C$38.00 and gave the company a "buy" rating in a research report on Monday, August 11th. BMO Capital Markets upped their price objective on shares of Saputo from C$27.00 to C$34.00 in a research report on Monday, August 11th. Desjardins upped their price objective on shares of Saputo from C$31.00 to C$36.00 and gave the company a "buy" rating in a research report on Monday, August 11th. National Bankshares upped their price objective on shares of Saputo from C$29.00 to C$35.00 and gave the company an "outperform" rating in a research report on Monday, August 11th. Finally, Royal Bank Of Canada upped their price objective on shares of Saputo from C$35.00 to C$37.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of C$34.75.

Saputo Price Performance

TSE SAP traded down C$0.04 during trading on Wednesday, reaching C$33.55. 423,871 shares of the company traded hands, compared to its average volume of 704,605. The company has a market cap of C$13.83 billion, a price-to-earnings ratio of -98.68, a P/E/G ratio of 0.56 and a beta of 0.07. The company has a debt-to-equity ratio of 51.68, a quick ratio of 0.67 and a current ratio of 1.53. Saputo has a 1-year low of C$22.59 and a 1-year high of C$34.75. The stock's 50 day moving average price is C$32.98 and its two-hundred day moving average price is C$28.77.

Insider Transactions at Saputo

In related news, insider Leanne Cutts acquired 4,000 shares of the business's stock in a transaction on Friday, August 15th. The stock was purchased at an average cost of C$32.93 per share, for a total transaction of C$131,720.00. Following the completion of the transaction, the insider directly owned 23,500 shares of the company's stock, valued at approximately C$773,855. The trade was a 20.51% increase in their position. 40.45% of the stock is owned by company insiders.

Saputo Company Profile

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.

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