Saputo (TSE:SAP) Upgraded by Scotiabank to Strong-Buy Rating

Scotiabank upgraded shares of Saputo (TSE:SAP) to a strong-buy rating in a research note released on Tuesday,Zacks.com reports.

SAP has been the subject of several other reports. CIBC lowered their target price on Saputo from C$32.00 to C$29.00 in a research report on Monday, February 10th. Royal Bank of Canada lowered their price objective on Saputo from C$38.00 to C$35.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. National Bankshares reduced their target price on Saputo from C$31.00 to C$28.00 in a report on Wednesday, January 15th. Jefferies Financial Group lowered their price target on shares of Saputo from C$36.00 to C$32.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Finally, Desjardins dropped their price target on shares of Saputo from C$34.00 to C$31.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$31.00.

Saputo Trading Up 0.8 %

TSE SAP opened at C$25.63 on Tuesday. The business’s fifty day moving average is C$24.83 and its 200 day moving average is C$26.03. The company has a market cap of C$10.80 billion, a price-to-earnings ratio of -68.62, a price-to-earnings-growth ratio of 0.56 and a beta of 0.32. Saputo has a twelve month low of C$22.59 and a twelve month high of C$32.15. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, March 14th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date was Tuesday, March 4th. Saputo’s payout ratio is -203.48%.

Saputo Company Profile

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.