Maple Leaf Foods (TSE:MFI) Price Target Cut to C$36.00 by Analysts at Desjardins

Maple Leaf Foods (TSE:MFI) had its target price reduced by research analysts at Desjardins from C$39.00 to C$36.00 in a note issued to investors on Wednesday, BayStreet reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price objective would indicate a potential upside of 47.00% from the stock’s previous close.

Several other research analysts also recently weighed in on MFI. TD Securities upgraded Maple Leaf Foods to a “strong-buy” rating in a research note on Monday, June 22nd. National Bank Financial lowered their price target on Maple Leaf Foods from C$36.00 to C$34.00 and set an “outperform” rating for the company in a report on Thursday, August 13th. Canadian Imperial Bank of Commerce set a C$36.00 price target on Maple Leaf Foods and gave the stock an “outperformer” rating in a research note on Monday, July 27th. Scotiabank cut their price objective on shares of Maple Leaf Foods from C$36.00 to C$33.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 13th. Finally, Canaccord Genuity Group lowered their target price on shares of Maple Leaf Foods from C$39.00 to C$37.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company’s stock. Based on data from MarketBeat, Maple Leaf Foods currently has a consensus rating of “Buy” and a consensus price target of C$36.08.

Maple Leaf Foods Stock Down 0.0%

MFI traded down C$0.01 during trading on Wednesday, hitting C$24.49. The stock had a trading volume of 165,471 shares, compared to its average volume of 278,355. The company has a market capitalization of C$3.05 billion, a PE ratio of 6.02, a PEG ratio of 18.07 and a beta of 0.26. Maple Leaf Foods has a twelve month low of C$23.35 and a twelve month high of C$31.87. The company has a debt-to-equity ratio of 97.47, a quick ratio of 0.54 and a current ratio of 1.56. The stock has a 50 day simple moving average of C$26.72 and a two-hundred day simple moving average of C$28.68.

Maple Leaf Foods (TSE:MFI) last issued its quarterly earnings results on Wednesday, August 12th. The company reported C$0.44 earnings per share (EPS) for the quarter. Maple Leaf Foods had a return on equity of 36.83% and a net margin of 13.08%.The business had revenue of C$1.02 billion for the quarter. On average, research analysts predict that Maple Leaf Foods will post 1.4334187 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Andrew Gordon Macdonald acquired 10,000 shares of the business’s stock in a transaction dated Friday, September 4th. The shares were acquired at an average cost of C$26.78 per share, with a total value of C$267,800.00. Following the completion of the acquisition, the director owned 72,200 shares of the company’s stock, valued at approximately C$1,933,516. This trade represents a 16.08% increase in their ownership of the stock. Insiders own 39.87% of the company’s stock.

Maple Leaf Foods Company Profile

Maple Leaf Foods Inc is a consumer-packaged meats company. It produces prepared meats and meals, fresh pork, and poultry and turkey products. The company also has agribusiness operations. These operations supply livestock to the meat products business operations. Its main markets are Canada, the United States, Japan, and China. The key brands are Maple Leaf and Schneiders, Maple Leaf Prime Naturally, Shopsy, Mitchell’s Gourmet Food, Larse, Parm, and Hygrade.