Saputo Inc. (OTCMKTS:SAPIF) Short Interest Up 22.5% in June

Saputo Inc. (OTCMKTS:SAPIFGet Rating) saw a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 2,678,400 shares, an increase of 22.5% from the May 31st total of 2,186,600 shares. Based on an average trading volume of 9,500 shares, the days-to-cover ratio is presently 281.9 days.

Shares of Saputo stock opened at $21.80 on Tuesday. The business’s 50 day simple moving average is $20.80 and its 200-day simple moving average is $22.51. Saputo has a twelve month low of $19.29 and a twelve month high of $30.25.

A number of brokerages have recently commented on SAPIF. Royal Bank of Canada lowered their price objective on Saputo from C$37.00 to C$35.00 in a research report on Thursday, April 28th. Scotiabank lowered their price target on Saputo from C$37.00 to C$36.00 in a research report on Friday, June 10th. National Bank Financial lowered their price target on Saputo from C$31.00 to C$30.00 in a research report on Friday, June 10th. Finally, Desjardins lowered their price target on Saputo from C$37.00 to C$35.00 in a research report on Wednesday, March 30th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Saputo Company Profile (Get Rating)

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.

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