Maple Leaf Foods (TSE:MFI) Stock Price Target Lowered at Desjardins

Maple Leaf Foods (TSE:MFI) had its target price cut by stock analysts at Desjardins from C$36.00 to C$33.00 in a report released on Thursday, BayStreet reports. The brokerage presently has a “buy” rating on the stock. Desjardins‘s price objective indicates a potential upside of 22.09% from the stock’s previous close.

MFI has been the subject of several other reports. Ventum Financial decreased 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 report on Thursday, August 13th. Canaccord Genuity Group dropped their price target on shares of Maple Leaf Foods from C$39.00 to C$37.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Scotiabank cut their price target on Maple Leaf Foods from C$36.00 to C$33.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 13th. Canadian Imperial Bank of Commerce set a C$36.00 price objective on Maple Leaf Foods and gave the stock an “outperformer” rating in a report on Monday, July 27th. Finally, Ventum Capital lowered their price objective on Maple Leaf Foods from C$37.00 to C$35.00 and set a “buy” rating for the company in a research note on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$34.92.

Maple Leaf Foods Stock Down 0.9%

Shares of MFI traded down C$0.25 during trading hours on Thursday, hitting C$27.03. The stock had a trading volume of 250,984 shares, compared to its average volume of 275,544. Maple Leaf Foods has a 1-year low of C$23.35 and a 1-year high of C$31.87. The firm has a market capitalization of C$3.37 billion, a P/E ratio of 6.64, a price-to-earnings-growth ratio of 18.07 and a beta of 0.26. The firm has a 50 day simple moving average of C$26.02 and a 200-day simple moving average of C$28.07. The company has a debt-to-equity ratio of 97.47, a current ratio of 1.56 and a quick ratio of 0.54.

Maple Leaf Foods (TSE:MFI) last announced its quarterly earnings results on Wednesday, November 4th. The company reported C$0.36 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$1.03 billion for the quarter. Sell-side analysts predict that Maple Leaf Foods will post 1.43 EPS for the current fiscal year.

Insider Activity

In other Maple Leaf Foods news, Director Andrew Gordon Macdonald purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The stock was bought at an average cost of C$26.78 per share, with a total value of C$267,800.00. Following the completion of the transaction, the director owned 72,200 shares of the company’s stock, valued at C$1,933,516. The trade was a 16.08% increase in their position. 39.87% of the stock is currently owned by corporate insiders.

Maple Leaf Foods Company Profile

Maple Leaf Foods (TSX: MFI) is a purpose-driven, protein-focused, brand-led consumer packaged goods company headquartered in Mississauga, Ontario. It proudly produces responsibly made, delicious food under powerhouse brands that include Maple Leaf, Maple Leaf Prime, Maple Leaf Natural Selections, Maple Leaf Mighty Protein, Musafir, Schneiders, Mina Halal, Greenfield Natural Meat Co, LightLife, Field Roast, and Yves Veggie Cuisine. Committed to Raising the Good in Food and bringing customers protein with purpose, Maple Leaf Foods delivers shared value for all its stakeholders by leading the way in safety and sustainability, building loved brands, operating with excellence, developing extraordinary talent, and broadening its impact through innovation and geographic reach.