High Liner Foods (TSE:HLF) Stock Bumped Down to Hold by Canaccord Genuity Group

Canaccord Genuity Group lowered shares of High Liner Foods (TSE:HLF) from a strong-buy rating to a hold rating in a report published on Monday,Zacks reports.

Several other equities research analysts also recently weighed in on the company. Ventum Capital set a C$16.50 price target on High Liner Foods and gave the stock a “neutral” rating in a report on Wednesday, October 21st. Raymond James Financial boosted their price objective on High Liner Foods from C$16.50 to C$27.00 and gave the company a “market perform” rating in a report on Tuesday. RBC Dominion Securities boosted their price objective on High Liner Foods from C$18.00 to C$27.00 and gave the company a “sector perform” rating in a report on Tuesday. Ventum upped their price objective on High Liner Foods from C$16.50 to C$27.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, ATB Cormark Capital Markets lowered High Liner Foods from a “speculative buy” rating to a “tender” rating and increased their target price for the stock from C$21.00 to C$27.00 in a research note on Tuesday. Seven research analysts have rated the stock with a Hold rating. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$21.69.

High Liner Foods Stock Performance

High Liner Foods stock opened at C$26.75 on Monday. The company has a debt-to-equity ratio of 80.12, a current ratio of 2.29 and a quick ratio of 0.38. High Liner Foods has a 1-year low of C$13.13 and a 1-year high of C$26.83. The firm has a market capitalization of C$749.13 million, a P/E ratio of 30.40 and a beta of 0.57. The company’s 50-day moving average is C$15.08 and its 200 day moving average is C$14.93.

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

High Liner Foods Dividend Announcement

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

Key Headlines Impacting High Liner Foods

Here are the key news stories impacting High Liner Foods this week:

• Positive Sentiment: High Liner Foods agreed to be acquired by Japanese seafood company Umios for C$27.00 per share in cash, valuing the transaction at approximately C$804 million. The offer represents a substantial premium to the company’s pre-deal trading level and provides shareholders with a defined cash exit, subject to customary closing conditions and approvals. High Liner Foods Enters into Agreement to Be Acquired by Umios for C$27.00 per Share in Cash High Liner Foods to be bought by Umios in deal valued at $804M
• Neutral Sentiment: RBC Dominion Securities raised its price target from C$18.00 to C$27.00 but maintained a “sector perform” rating. Because the target is only about 0.9% above the referenced trading price, the revised valuation suggests limited additional upside beyond the acquisition consideration. RBC Dominion Securities stock recommendations
• Neutral Sentiment: Ventum and Raymond James also lifted their price targets to C$27.00 from C$16.50, while retaining “neutral” and “market perform” ratings, respectively. The moves reflect alignment with the takeover price rather than expectations for significant independent upside. Ventum stock recommendations Raymond James stock recommendations
• Negative Sentiment: ATB Cormark downgraded High Liner Foods from “speculative buy” to “tender,” despite increasing its price target to C$27.00 from C$21.00. The downgrade reflects the limited remaining upside and shifts the investment case toward tendering shares into the acquisition. ATB Cormark Capital Markets stock recommendations

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.