BMO Capital Markets Lowers Saputo (TSE:SAP) to Market Perform

Saputo (TSE:SAP) was downgraded by stock analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report released on Tuesday, BayStreet.CA reports. They currently have a C$30.00 price objective on the stock, down from their prior price objective of C$35.00. BMO Capital Markets’ target price would suggest a potential upside of 7.80% from the stock’s current price.

A number of other equities research analysts also recently weighed in on SAP. National Bankshares dropped their price objective on Saputo from C$36.00 to C$35.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. CIBC dropped their price objective on Saputo from C$37.00 to C$35.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Saputo currently has a consensus rating of “Moderate Buy” and an average target price of C$34.79.

Saputo Stock Down 3.1 %

Shares of SAP traded down C$0.89 during midday trading on Tuesday, reaching C$27.83. 162,620 shares of the stock were exchanged, compared to its average volume of 445,101. Saputo has a 52 week low of C$25.28 and a 52 week high of C$32.15. The company has a current ratio of 1.59, a quick ratio of 0.67 and a debt-to-equity ratio of 53.17. The company’s 50 day moving average is C$29.66 and its two-hundred day moving average is C$28.93. The company has a market capitalization of C$11.81 billion, a P/E ratio of 44.17, a PEG ratio of 0.21 and a beta of 0.32.

Saputo (TSE:SAP) last posted its quarterly earnings results on Thursday, August 8th. The company reported C$0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.37 by C$0.02. Saputo had a return on equity of 3.72% and a net margin of 1.50%. The business had revenue of C$4.61 billion for the quarter, compared to the consensus estimate of C$4.44 billion. On average, sell-side analysts anticipate that Saputo will post 1.7806854 earnings per share for the current year.

Insider Buying and Selling at Saputo

In other news, Senior Officer Martin Gagnon acquired 2,000 shares of Saputo stock in a transaction dated Tuesday, August 20th. The stock was purchased at an average cost of C$29.73 per share, for a total transaction of C$59,450.00. In related news, Senior Officer Carl Colizza bought 6,800 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average cost of C$29.43 per share, with a total value of C$200,124.00. Also, Senior Officer Martin Gagnon bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were bought at an average cost of C$29.73 per share, for a total transaction of C$59,450.00. 42.57% of the stock is currently owned by company insiders.

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.