Saputo (TSE:SAP) Rating Increased to Strong-Buy at Scotiabank

Saputo (TSE:SAP - Get Free Report) was upgraded by equities researchers at Scotiabank to a "strong-buy" rating in a research report issued to clients and investors on Tuesday, April 1st,Zacks.com reports.

Several other equities analysts have also issued reports on SAP. Royal Bank of Canada cut their price target on Saputo from C$38.00 to C$35.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. National Bankshares decreased their price target on Saputo from C$31.00 to C$28.00 in a research note on Wednesday, January 15th. CIBC dropped their price target on Saputo from C$32.00 to C$29.00 in a research note on Monday, February 10th. TD Securities dropped their target price on Saputo from C$37.00 to C$35.00 and set a "buy" rating for the company in a report on Friday, March 28th. Finally, Jefferies Financial Group reduced their price objective on shares of Saputo from C$36.00 to C$32.00 and set a "buy" rating on the stock in a research note on Monday, December 23rd. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Saputo presently has an average rating of "Buy" and an average target price of C$31.00.

Saputo Price Performance

SAP stock traded down C$0.10 during midday trading on Tuesday, reaching C$24.08. 171,267 shares of the company's stock traded hands, compared to its average volume of 800,427. The company has a 50-day simple moving average of C$24.88 and a two-hundred day simple moving average of C$25.83. The company has a quick ratio of 0.67, a current ratio of 1.53 and a debt-to-equity ratio of 51.68. Saputo has a 1-year low of C$22.59 and a 1-year high of C$32.15. The company has a market cap of C$10.15 billion, a price-to-earnings ratio of -64.47, a PEG ratio of 0.56 and a beta of 0.32.

About Saputo

Saputo Inc produces, markets, and distributes dairy products in Canada, the United States, Argentina, Australia, and the United Kingdom. The company offers cheeses, including mozzarella and cheddar; specialty cheeses, such as ricotta, provolone, blue, parmesan, goat cheese, feta, romano, and havarti; fine cheeses comprising brie and camembert; and other cheeses that include brick, colby, farmer, munster, monterey jack, fresh curd, and processed cheeses.