Maple Leaf Foods (TSE:MFI) Stock Gets Price Target Reduction from National Bank Financial

Key Points

• National Bank Financial cut Maple Leaf Foods’ price target from C$34 to C$29 while maintaining an “outperform” rating, implying 17.55% upside from the current price.
• Despite target reductions from several brokerages, analyst sentiment remains positive: the stock has an overall “Buy” consensus and an average price target of C$35.67.
• Maple Leaf Foods shares fell 1.6% to C$24.67, near their 52-week low; the company recently reported C$0.44 quarterly EPS on C$1.02 billion in revenue, while an insider purchased 10,000 shares.

Maple Leaf Foods (TSE:MFI - Get Free Report) had its target price lowered by stock analysts at National Bank Financial from C$34.00 to C$29.00 in a research note issued to investors on Wednesday, BayStreet reports. The brokerage currently has an "outperform" rating on the stock. National Bank Financial's price target would indicate a potential upside of 17.55% from the company's current price.

Several other research firms also recently commented on MFI. 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. Desjardins lowered their price objective on Maple Leaf Foods from C$39.00 to C$36.00 and set a "buy" rating for the company in a research note on Wednesday, October 7th. Stifel Nicolaus set a C$36.00 price target on Maple Leaf Foods and gave the stock a "buy" rating in a report on Thursday, July 9th. 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 report on Monday, July 27th. Finally, Scotiabank lowered 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 report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of C$35.67.

Maple Leaf Foods Stock Down 1.6%

TSE:MFI traded down C$0.39 on Wednesday, hitting C$24.67. The stock had a trading volume of 142,679 shares, compared to its average volume of 278,128. The company has a quick ratio of 0.54, a current ratio of 1.56 and a debt-to-equity ratio of 97.47. Maple Leaf Foods has a 52 week low of C$23.35 and a 52 week high of C$31.87. The business's fifty day moving average is C$26.31 and its 200 day moving average is C$28.52. The company has a market cap of C$3.08 billion, a PE ratio of 6.06, a P/E/G ratio of 18.07 and a beta of 0.26.

Maple Leaf Foods (TSE:MFI - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported C$0.44 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. On average, equities research analysts expect that Maple Leaf Foods will post 1.43 EPS for the current fiscal year.

Insider Buying and Selling

In other Maple Leaf Foods news, Director Andrew Gordon Macdonald acquired 10,000 shares of the business's stock in a transaction on Friday, September 4th. The shares were acquired at an average price 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 in the company, valued at approximately C$1,933,516. This trade represents a 16.08% increase in their ownership of the stock. Company 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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