Desjardins Has Lowered Expectations for Maple Leaf Foods (TSE:MFI) Stock Price

Key Points

• Desjardins lowered Maple Leaf Foods’ price target to C$36 from C$39 while maintaining a “buy” rating, implying approximately 47% upside from the C$24.49 share price.
• Analyst sentiment remains positive, with a consensus “Buy” rating and average price target of C$36.08, despite several brokerages recently reducing their targets.
• Maple Leaf Foods reported quarterly EPS of C$0.44 on C$1.02 billion in revenue, while director Andrew Gordon Macdonald purchased 10,000 shares valued at approximately C$267,800.

Maple Leaf Foods (TSE:MFI - Get Free Report) had its target price decreased by analysts at Desjardins from C$39.00 to C$36.00 in a note issued to investors on Wednesday, BayStreet reports. The brokerage presently has a "buy" rating on the stock. Desjardins' price target would suggest a potential upside of 47.00% from the company's current price.

Other equities analysts have also issued reports about the stock. Scotiabank reduced their target price 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 research report on Thursday, August 13th. Canadian Imperial Bank of Commerce set a C$36.00 price target on Maple Leaf Foods and gave the company an "outperformer" rating in a report on Monday, July 27th. Canaccord Genuity Group reduced their price objective on Maple Leaf Foods from C$39.00 to C$37.00 and set a "buy" rating on the stock in a report on Thursday, August 13th. National Bank Financial decreased their target price on Maple Leaf Foods from C$36.00 to C$34.00 and set an "outperform" rating for the company in a research report on Thursday, August 13th. Finally, Ventum Financial lowered their target price on Maple Leaf Foods from C$39.00 to C$37.00 and set a "buy" rating for the company in a report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of C$36.08.

Maple Leaf Foods Trading Down 0.0%

Shares of MFI traded down C$0.01 during mid-day trading on Wednesday, reaching C$24.49. 165,471 shares of the company's stock traded hands, compared to its average volume of 278,355. The company has a debt-to-equity ratio of 97.47, a current ratio of 1.56 and a quick ratio of 0.54. The stock's 50-day moving average is C$26.72 and its two-hundred day moving average is C$28.68. Maple Leaf Foods has a 12 month low of C$23.35 and a 12 month high of C$31.87. The stock has a market cap of C$3.05 billion, a P/E ratio of 6.02, a P/E/G ratio of 18.07 and a beta of 0.26.

Maple Leaf Foods (TSE:MFI - Get Free Report) 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 firm had revenue of C$1.02 billion during the quarter. Research analysts forecast that Maple Leaf Foods will post 1.4334187 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Andrew Gordon Macdonald purchased 10,000 shares of Maple Leaf Foods stock in a transaction dated Friday, September 4th. The stock was purchased at an average cost of C$26.78 per share, with a total value of C$267,800.00. Following the transaction, the director owned 72,200 shares in the company, valued at approximately C$1,933,516. The trade was a 16.08% increase in their position. Corporate insiders own 39.87% of the company's stock.

About Maple Leaf Foods

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.

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