Maple Leaf Foods (TSE:MFI) Rating Lowered to Sector Perform at Scotiabank

Key Points

• Scotiabank downgraded Maple Leaf Foods from “sector outperform” to “sector perform,” but raised its price target from C$30 to C$33, implying 22.09% upside from the current share price.
• Analyst sentiment remains broadly positive: MarketBeat reports a consensus “Buy” rating and C$34.92 target, despite several firms recently lowering their price targets.
• Shares traded at C$27.03 on Thursday. Maple Leaf Foods reported quarterly EPS of C$0.36 and revenue of C$1.03 billion.

Maple Leaf Foods (TSE:MFI - Get Free Report) was downgraded by analysts at Scotiabank from a "sector outperform" rating to a "sector perform" rating in a report issued on Thursday, BayStreet reports. They presently have a C$33.00 price target on the stock, up from their previous price target of C$30.00. Scotiabank's target price would suggest a potential upside of 22.09% from the company's current price.

Other analysts also recently issued research reports about the company. National Bank Financial dropped their price objective on Maple Leaf Foods from C$34.00 to C$29.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 14th. Desjardins dropped their price target on Maple Leaf Foods from C$36.00 to C$33.00 and set a "buy" rating on the stock in a report on Thursday. 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 research note on Monday, July 27th. Ventum Capital cut their target price on Maple Leaf Foods from C$37.00 to C$35.00 and set a "buy" rating on the stock in a research report on Wednesday, October 21st. Finally, Canaccord Genuity Group reduced 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, ten have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Maple Leaf Foods has a consensus rating of "Buy" and a consensus target price of C$34.92.

Maple Leaf Foods Price Performance

Shares of MFI stock traded down C$0.25 during midday trading on Thursday, reaching C$27.03. 250,984 shares of the company were exchanged, compared to its average volume of 275,544. Maple Leaf Foods has a 12 month low of C$23.35 and a 12 month high of C$31.87. The company has a market cap of C$3.37 billion, a P/E ratio of 6.64, a PEG ratio of 18.07 and a beta of 0.26. The company's 50 day moving average price is C$26.02 and its two-hundred day moving average price is C$28.07. The company has a debt-to-equity ratio of 97.47, a quick ratio of 0.54 and a current ratio of 1.56.

Maple Leaf Foods (TSE:MFI - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The company reported C$0.36 earnings per share (EPS) for the quarter. Maple Leaf Foods had a net margin of 13.08% and a return on equity of 36.83%. The business had revenue of C$1.03 billion during the quarter. On average, sell-side analysts expect that Maple Leaf Foods will post 1.43 earnings per share for the current year.

Insider Buying and Selling at Maple Leaf Foods

In other Maple Leaf Foods news, Director Andrew Gordon Macdonald purchased 10,000 shares of the stock in a transaction dated Friday, September 4th. The shares were acquired at an average price of C$26.78 per share, for a total transaction of C$267,800.00. Following the completion of the acquisition, the director owned 72,200 shares of the company's stock, valued at C$1,933,516. This represents a 16.08% increase in their position. Corporate insiders own 39.87% of the company's stock.

About Maple Leaf Foods

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.

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