High Liner Foods (TSE:HLF) Reaches New 52-Week High – Here’s What Happened

High Liner Foods Inc (TSE:HLF)’s share price reached a new 52-week high during mid-day trading on Monday. The stock traded as high as C$26.90 and last traded at C$26.84, with a volume of 9,338 shares changing hands. The stock had previously closed at C$26.82.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on HLF shares. Ventum Capital set a C$16.50 price target on shares of High Liner Foods and gave the stock a “neutral” rating in a research note on Wednesday, October 21st. Canaccord Genuity Group downgraded shares of High Liner Foods from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 26th. Ventum increased their target price on shares of High Liner Foods from C$16.50 to C$27.00 and gave the stock a “neutral” rating in a report on Tuesday, October 27th. RBC Dominion Securities lifted their price target on shares of High Liner Foods from C$18.00 to C$27.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 27th. Finally, Raymond James Financial boosted their price target on shares of High Liner Foods from C$16.50 to C$27.00 and gave the company a “market perform” rating in a report on Tuesday, October 27th. Seven research analysts have rated the stock with a Hold rating. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$22.29.

High Liner Foods Price Performance

The company has a current ratio of 2.29, a quick ratio of 0.38 and a debt-to-equity ratio of 80.12. The firm has a market cap of C$751.65 million, a P/E ratio of 30.50 and a beta of 0.84. The company has a fifty day moving average price of C$17.39 and a two-hundred day moving average price of C$15.51.

High Liner Foods (TSE:HLF) last posted its earnings results on Thursday, August 13th. The company reported C$0.63 earnings per share (EPS) for the quarter. High Liner Foods had a return on equity of 6.30% and a net margin of 2.30%. The business had revenue of C$382.35 million during the quarter. During the same period in the previous year, the company posted $0.28 earnings per share. Equities analysts anticipate that High Liner Foods Inc will post 1.99 earnings per share for the current year.

High Liner Foods Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 15th were paid a $0.1750 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.70 dividend on an annualized basis and a yield of 2.6%. High Liner Foods’s dividend payout ratio is presently 57.23%.

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. They also sell branded products under the High Liner, Icelandic Seafood, and FPI labels to restaurants and institutions, and are a major supplier of private-label, value-added frozen seafood products to North American food retailers and foodservice distributors.