High Liner Foods (TSE:HLF) Rating Lowered to “Hold” at Canaccord Genuity Group

High Liner Foods (TSE:HLF) was downgraded by equities research analysts at Canaccord Genuity Group from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday, Zacks reports.

Several other brokerages have also recently weighed in on HLF. Ventum lifted their price target on High Liner Foods from C$16.50 to C$27.00 and gave the company a “neutral” rating in a research report on Tuesday. RBC Dominion Securities upped their price objective on shares of High Liner Foods from C$18.00 to C$27.00 and gave the company a “sector perform” rating in a research note on Tuesday. Ventum Capital set a C$16.50 price target on shares of High Liner Foods and gave the company a “neutral” rating in a research report on Wednesday, October 21st. Raymond James Financial lifted their price objective on High Liner Foods from C$16.50 to C$27.00 and gave the company a “market perform” rating in a research note on Tuesday. Finally, ATB Cormark Capital Markets cut shares of High Liner Foods from a “speculative buy” rating to a “tender” rating and raised their price target for the company from C$21.00 to C$27.00 in a research report on Tuesday. Seven research analysts have rated the stock with a Hold rating. According to MarketBeat.com, High Liner Foods currently has an average rating of “Hold” and an average target price of C$21.69.

High Liner Foods Stock Performance

HLF opened at C$26.75 on Monday. The company has a market cap of C$749.13 million, a P/E ratio of 30.40 and a beta of 0.57. The company has a quick ratio of 0.38, a current ratio of 2.29 and a debt-to-equity ratio of 80.12. The firm’s 50-day moving average price is C$15.08 and its 200-day moving average price is C$14.93. High Liner Foods has a 52-week low of C$13.13 and a 52-week high of C$26.83.

High Liner Foods (TSE:HLF) last issued its earnings results on Thursday, August 13th. The company reported C$0.63 earnings per share (EPS) for the quarter. High Liner Foods had a return on equity of 6.30% and a net margin of 2.30%. The company had revenue of C$382.35 million during the quarter. During the same quarter last year, the business earned $0.28 EPS. As a group, equities analysts anticipate that High Liner Foods will post 1.99 EPS for the current fiscal year.

Key Headlines Impacting High Liner Foods

Here are the key news stories impacting High Liner Foods this week:

• Positive Sentiment: High Liner Foods agreed to be acquired by Japanese seafood company Umios for C$27.00 per share in cash, valuing the transaction at approximately C$804 million. The offer represents a substantial premium to the company’s pre-deal trading level and provides shareholders with a defined cash exit, subject to customary closing conditions and approvals. High Liner Foods Enters into Agreement to Be Acquired by Umios for C$27.00 per Share in Cash High Liner Foods to be bought by Umios in deal valued at $804M
• Neutral Sentiment: RBC Dominion Securities raised its price target from C$18.00 to C$27.00 but maintained a “sector perform” rating. Because the target is only about 0.9% above the referenced trading price, the revised valuation suggests limited additional upside beyond the acquisition consideration. RBC Dominion Securities stock recommendations
• Neutral Sentiment: Ventum and Raymond James also lifted their price targets to C$27.00 from C$16.50, while retaining “neutral” and “market perform” ratings, respectively. The moves reflect alignment with the takeover price rather than expectations for significant independent upside. Ventum stock recommendations Raymond James stock recommendations
• Negative Sentiment: ATB Cormark downgraded High Liner Foods from “speculative buy” to “tender,” despite increasing its price target to C$27.00 from C$21.00. The downgrade reflects the limited remaining upside and shifts the investment case toward tendering shares into the acquisition. ATB Cormark Capital Markets stock recommendations

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.