CIBC Cuts MTY Food Group (TSE:MTY) Price Target to C$53.00

MTY Food Group (TSE:MTY) had its target price dropped by equities research analysts at CIBC from C$62.00 to C$53.00 in a research note issued on Monday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. CIBC’s price objective would suggest a potential upside of 16.48% from the stock’s current price.

Several other analysts also recently commented on the stock. Scotiabank reduced their price objective on shares of MTY Food Group from C$62.00 to C$55.00 and set a “sector perform” rating for the company in a research report on Friday, February 16th. National Bankshares reduced their price objective on shares of MTY Food Group from C$59.00 to C$57.00 and set an “outperform” rating for the company in a research report on Monday. Acumen Capital raised their price objective on shares of MTY Food Group from C$60.00 to C$75.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. TD Securities reduced their price objective on shares of MTY Food Group from C$59.00 to C$49.00 and set a “hold” rating for the company in a research report on Monday. Finally, Raymond James reduced their price objective on shares of MTY Food Group from C$65.00 to C$60.00 and set a “market perform” rating for the company in a research report on Friday, February 16th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, MTY Food Group currently has a consensus rating of “Hold” and an average target price of C$55.00.

MTY Food Group Trading Up 0.8 %

MTY Food Group stock traded up C$0.34 during mid-day trading on Monday, hitting C$45.50. 82,933 shares of the stock were exchanged, compared to its average volume of 50,975. The company has a quick ratio of 0.57, a current ratio of 0.61 and a debt-to-equity ratio of 154.98. MTY Food Group has a 12 month low of C$44.48 and a 12 month high of C$68.60. The firm’s fifty day simple moving average is C$51.92 and its two-hundred day simple moving average is C$53.28. The stock has a market capitalization of C$1.10 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 0.75 and a beta of 1.98.

MTY Food Group (TSE:MTY) last released its quarterly earnings results on Friday, April 12th. The company reported C$0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.83 by C($0.12). The firm had revenue of C$278.64 million for the quarter, compared to the consensus estimate of C$263.20 million. MTY Food Group had a return on equity of 13.23% and a net margin of 8.86%. Analysts forecast that MTY Food Group will post 4.0429722 EPS for the current year.

MTY Food Group Company Profile

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.