ATB Cormark Capital Markets cut shares of High Liner Foods (TSE:HLF – Free Report) from a speculative buy rating to a tender rating in a report published on Tuesday,BayStreet reports. The firm currently has C$27.00 price target on the stock, up from their previous price target of C$21.00.
HLF has been the subject of several other reports. RBC Dominion Securities raised their price target on High Liner Foods from C$18.00 to C$27.00 and gave the company a “sector perform” rating in a report on Tuesday. Ventum Capital set a C$16.50 price target on High Liner Foods and gave the stock a “neutral” rating in a research report on Wednesday, October 21st. Seven analysts have rated the stock with a Hold rating. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$21.69.
Get Our Latest Analysis on High Liner Foods
High Liner Foods Stock Down 0.2%
HLF stock opened at C$26.76 on Tuesday. The business has a 50 day moving average of C$15.53 and a 200 day moving average of C$15.05. The firm has a market cap of C$749.41 million, a PE ratio of 30.41 and a beta of 0.57. High Liner Foods has a twelve month low of C$13.13 and a twelve month high of C$26.83. The company has a quick ratio of 0.38, a current ratio of 2.29 and a debt-to-equity ratio of 80.12.
High Liner Foods (TSE:HLF – Get Free Report) last released its earnings results on Thursday, August 13th. The company reported C$0.63 EPS for the quarter. High Liner Foods had a return on equity of 6.30% and a net margin of 2.30%. The business had revenue of C$382.35 million for the quarter. During the same period last year, the firm posted $0.28 earnings per share. On average, research analysts forecast that High Liner Foods will post 1.99 EPS for the current fiscal year.
High Liner Foods Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 15th were paid a $0.1750 dividend. This represents a $0.70 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Tuesday, September 1st. High Liner Foods’s dividend payout ratio is currently 57.23%.
High Liner Foods News Summary
Here are the key news stories impacting High Liner Foods this week:
- Positive Sentiment: High Liner Foods agreed to be acquired by Umios for C$27 per share in cash, providing a clear valuation benchmark and supporting the recent strength in HLF shares. The transaction remains subject to customary closing conditions and creates some potential for a higher offer. High Liner Foods Agrees To Be Acquired By Umios For C$27/Share In Cash
- Positive Sentiment: Raymond James Financial raised its price target on HLF, signaling greater confidence in the company’s valuation and outlook. Raymond James Financial Raises High Liner Foods Price Target
- Positive Sentiment: Ventum also increased its price target, while an RBC Dominion Securities analyst said the stock is expected to rise. These calls reinforce the acquisition-related valuation support. Ventum Raises High Liner Foods Price Target RBC Analyst Expects High Liner Foods Stock to Rise
- Neutral Sentiment: Recent commentary has focused on High Liner’s operational evolution and its ability to adapt to changing consumer preferences, but no specific new financial guidance was reported. High Liner Foods and Changing Consumer Preferences
- Negative Sentiment: ATB Cormark downgraded HLF to “Hold,” and Canaccord Genuity cut its rating from “Strong Buy” to “Hold.” The downgrades may limit further gains, particularly because the shares are already close to Umios’s C$27 offer price. ATB Cormark Downgrades High Liner Foods to Hold Canaccord Genuity Downgrades High Liner Foods
About High Liner Foods
High Liner Foods is the leading North American processor and marketer of value-added frozen seafood. Their retail branded products are sold throughout the United States, Canada and Mexico under the High Liner, Fisher Boy, Sea Cuisine and C. Wirthy & Co labels, and are available in most grocery and club stores. They also sell branded products under the High Liner, Icelandic Seafood, and FPI labels to restaurants and institutions, and are a major supplier of private-label, value-added frozen seafood products to North American food retailers and foodservice distributors.
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