National Bank Financial Lowers MTY Food Group (TSE:MTY) Price Target to C$40.00

Key Points

• National Bank Financial cut MTY Food Group’s price target to C$40 from C$43 while maintaining an “outperform” rating, implying 26.62% upside from the previous close.
• Analyst sentiment is largely cautious: MTY has a consensus “Hold” rating from eight analysts, with an average price target of C$42.12.
• MTY shares fell 2.7% to C$31.59, near their 52-week low of C$31.57. The company reported quarterly EPS of C$0.67 on revenue of C$279.94 million.

MTY Food Group (TSE:MTY - Get Free Report) had its target price cut by research analysts at National Bank Financial from C$43.00 to C$40.00 in a report issued on Tuesday, BayStreet reports. The firm presently has an "outperform" rating on the stock. National Bank Financial's target price indicates a potential upside of 26.62% from the stock's previous close.

A number of other brokerages also recently issued reports on MTY. Raymond James Financial dropped their price target on shares of MTY Food Group from C$45.00 to C$40.00 and set a "market perform" rating on the stock in a report on Monday, July 13th. TD Securities upgraded shares of MTY Food Group to a "hold" rating in a report on Monday, July 13th. Scotia cut their target price on shares of MTY Food Group from C$45.00 to C$40.00 and set a "sector perform" rating for the company in a research report on Monday, July 13th. Royal Bank Of Canada reduced their price target on shares of MTY Food Group from C$46.00 to C$41.00 and set a "sector perform" rating for the company in a research report on Monday, July 13th. Finally, Acumen Capital decreased their price target on shares of MTY Food Group from C$50.00 to C$48.00 and set a "buy" rating on the stock in a research report on Monday, July 13th. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of C$42.12.

MTY Food Group Stock Down 2.7%

Shares of MTY stock traded down C$0.86 during mid-day trading on Tuesday, hitting C$31.59. The company's stock had a trading volume of 62,131 shares, compared to its average volume of 88,261. The stock has a market cap of C$721.55 million, a price-to-earnings ratio of 6.42, a PEG ratio of 0.75 and a beta of 1.03. The company has a debt-to-equity ratio of 123.64, a quick ratio of 0.56 and a current ratio of 0.73. MTY Food Group has a 52-week low of C$31.57 and a 52-week high of C$45.90. The business has a 50-day moving average price of C$34.50 and a 200 day moving average price of C$37.49.

MTY Food Group (TSE:MTY - Get Free Report) last released its quarterly earnings data on Friday, July 10th. The company reported C$0.67 EPS for the quarter. MTY Food Group had a return on equity of 13.22% and a net margin of 9.78%.The company had revenue of C$279.94 million for the quarter. Research analysts predict that MTY Food Group will post 4.4909091 EPS for the current fiscal year.

About MTY Food Group

MTY Group franchises and operates quick-service, fast casual and casual dining restaurants over 80 different banners in Canada, the US and Internationally. Based in Montreal, MTY is a family whose heart beats to the rhythm of its brands, the very soul of its multi-branded strategy. For over 45 years, it has been increasing its presence by delivering new concepts of restaurants, making acquisitions, and forging strategic alliances, which have allowed it to reach new heights year after year. By combining new trends with operational know-how, the brands forming the MTY Group now touch the lives of millions of people every year.

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