Saputo Inc. (OTCMKTS:SAPIF) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 662,600 shares, a drop of 19.7% from the August 15th total of 825,500 shares. Based on an average daily trading volume, of 3,000 shares, the short-interest ratio is presently 220.9 days.
Saputo stock opened at $25.28 on Wednesday. The business has a fifty day moving average of $28.26 and a two-hundred day moving average of $30.11. Saputo has a twelve month low of $24.50 and a twelve month high of $35.00.
Several equities research analysts have issued reports on SAPIF shares. TD Securities lowered their price objective on shares of Saputo from C$44.00 to C$41.00 and set a “buy” rating for the company in a research report on Tuesday. CIBC dropped their price objective on Saputo from C$42.00 to C$41.00 and set an “outperform” rating on the stock in a research note on Tuesday. Scotiabank reduced their price objective on Saputo from C$45.00 to C$42.00 and set an “outperform” rating on the stock in a report on Tuesday. Desjardins lowered their target price on Saputo from C$45.00 to C$44.00 and set a “buy” rating for the company in a report on Monday, June 7th. Finally, BMO Capital Markets raised Saputo from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 9th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $41.57.
Saputo, Inc engages in the production, marketing, and distribution of a wide array of dairy products. Its products include cheese, fluid milk, extended shelf-life milk, and cream products, cultured products, and dairy ingredients. It operates through geographical sectors: Canada, USA, and International.
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