Saputo Inc. (OTCMKTS:SAPIF – Get 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 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.
- Get a free copy of the StockNews.com research report on Saputo (SAPIF)
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