Saputo (TSE:SAP) Upgraded to “Strong-Buy” at Scotiabank

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

A number of other equities research analysts also recently weighed in on SAP. National Bankshares reduced their price target on shares of Saputo from C$31.00 to C$28.00 in a research note on Wednesday, January 15th. Desjardins cut their price objective on Saputo from C$34.00 to C$31.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Royal Bank of Canada reduced their price objective on Saputo from C$38.00 to C$35.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. 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 research report on Friday, March 28th. Finally, CIBC cut their price target on Saputo from C$32.00 to C$29.00 in a research note on Monday, February 10th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Saputo has a consensus rating of “Buy” and an average target price of C$31.00.

Saputo Price Performance

Saputo stock opened at C$25.63 on Tuesday. The company has a debt-to-equity ratio of 51.68, a quick ratio of 0.67 and a current ratio of 1.53. Saputo has a 52 week low of C$22.59 and a 52 week high of C$32.15. The stock has a market capitalization of C$10.80 billion, a P/E ratio of -68.62, a price-to-earnings-growth ratio of 0.56 and a beta of 0.32. The stock has a fifty day moving average of C$24.83 and a 200-day moving average of C$26.03.

Saputo Announces Dividend

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