Acumen Capital Cuts MTY Food Group (TSE:MTY) Price Target to C$65.00

MTY Food Group (TSE:MTY) had its price objective cut by research analysts at Acumen Capital from C$75.00 to C$65.00 in a note issued to investors on Monday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Acumen Capital’s price target points to a potential upside of 42.86% from the stock’s previous close.

A number of other research firms have also issued reports on MTY. National Bankshares lowered their price target on MTY Food Group from C$59.00 to C$57.00 and set an “outperform” rating on the stock in a report on Monday. Royal Bank of Canada lowered their price target on MTY Food Group from C$58.00 to C$51.00 and set a “sector perform” rating on the stock in a report on Monday. Raymond James lowered their price target on MTY Food Group from C$65.00 to C$60.00 and set a “market perform” rating on the stock in a report on Friday, February 16th. CIBC lowered their price target on MTY Food Group from C$62.00 to C$53.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Scotiabank lowered their price target on MTY Food Group from C$55.00 to C$50.00 and set a “sector perform” rating on the stock in a report on Monday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$55.00.

MTY Food Group Stock Performance

Shares of MTY traded up C$0.34 during midday trading on Monday, reaching C$45.50. 82,933 shares of the stock were exchanged, compared to its average volume of 50,975. The business’s 50-day moving average price is C$51.92 and its 200 day moving average price is C$53.28. The company has a debt-to-equity ratio of 154.98, a current ratio of 0.61 and a quick ratio of 0.57. MTY Food Group has a twelve month low of C$44.48 and a twelve month high of C$68.60. The company has a market capitalization of C$1.10 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 0.75 and a beta of 1.98.

MTY Food Group (TSE:MTY) last posted its earnings results on Friday, April 12th. The company reported C$0.71 EPS for the quarter, missing analysts’ consensus estimates of C$0.83 by C($0.12). MTY Food Group had a return on equity of 13.23% and a net margin of 8.86%. The firm had revenue of C$278.64 million for the quarter, compared to analyst estimates of C$263.20 million. On average, sell-side analysts expect that MTY Food Group will post 4.0429722 EPS for the current fiscal year.

About MTY Food Group

MTY Food Group Inc operates and franchises quick-service, fast-casual, and casual dining restaurants in Canada, the United States, and internationally. It also sells retail products under a multitude of banners. The company was formerly known as iNsu Innovations Group Inc and changed its name to MTY Food Group Inc in July 2003.