High Liner Foods (TSE:HLF) Hits New 12-Month High – Still a Buy?

High Liner Foods Inc (TSE:HLF)’s share price reached a new 52-week high on Monday. The stock traded as high as C$26.90 and last traded at C$26.84, with a volume of 9,338 shares changing hands. The stock had previously closed at C$26.82.

Wall Street Analyst Weigh In

HLF has been the subject of a number of research analyst reports. Ventum Capital set a C$16.50 price target on High Liner Foods and gave the company a “neutral” rating in a research report on Wednesday, October 21st. Ventum boosted their price objective on shares of High Liner Foods from C$16.50 to C$27.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 27th. RBC Dominion Securities boosted their price objective on shares of High Liner Foods from C$18.00 to C$27.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 27th. ATB Cormark Capital Markets cut shares of High Liner Foods from a “speculative buy” rating to a “tender” rating and increased their price objective for the company from C$21.00 to C$27.00 in a research note on Tuesday, October 27th. Finally, Raymond James Financial raised their target price on shares of High Liner Foods from C$16.50 to C$27.00 and gave the company a “market perform” rating in a report on Tuesday, October 27th. Seven equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of C$21.69.

High Liner Foods Stock Up 0.1%

The firm has a fifty day moving average price of C$16.92 and a 200-day moving average price of C$15.40. 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 has a market cap of C$751.65 million, a price-to-earnings ratio of 30.50 and a beta of 0.84.

High Liner Foods (TSE:HLF) 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 firm had revenue of C$382.35 million during the quarter. During the same quarter in the previous year, the company posted $0.28 earnings per share. As a group, sell-side analysts forecast that High Liner Foods Inc will post 1.99 EPS for the current year.

High Liner Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 15th were issued a $0.1750 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $0.70 annualized dividend and a yield of 2.6%. High Liner Foods’s payout ratio is 57.23%.

High Liner Foods Company Profile

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.