Raymond James Financial Has Lowered Expectations for MTY Food Group (TSE:MTY) Stock Price

Key Points

• Raymond James cut MTY Food Group’s price target from C$40 to C$35 while maintaining a “market perform” rating, implying 11.57% upside from the previous close.
• Analyst sentiment remains cautious: MTY has one Buy and seven Hold ratings, resulting in a consensus “Hold” rating and average price target of C$41.12.
• MTY shares rose 0.7% to C$31.37, while the company reported quarterly EPS of C$1.26 and revenue of C$277.73 million. Its stock remains below both its 50-day and 200-day moving averages.

MTY Food Group (TSE:MTY - Get Free Report) had its price target reduced by equities researchers at Raymond James Financial from C$40.00 to C$35.00 in a research note issued to investors on Tuesday, BayStreet reports. The firm presently has a "market perform" rating on the stock. Raymond James Financial's target price indicates a potential upside of 11.57% from the company's previous close.

Several other equities research analysts also recently issued reports on the company. TD set a C$38.00 price target on MTY Food Group and gave the stock a "hold" rating in a report on Thursday, October 8th. Acumen Capital dropped their price objective on MTY Food Group from C$50.00 to C$48.00 and set a "buy" rating on the stock in a research note on Monday, July 13th. Royal Bank Of Canada dropped their price objective on MTY Food Group from C$46.00 to C$41.00 and set a "sector perform" rating on the stock in a research note on Monday, July 13th. National Bank Financial cut their price objective on shares of MTY Food Group from C$40.00 to C$37.00 and set a "sector perform" rating on the stock in a report on Tuesday. Finally, TD Securities upgraded shares of MTY Food Group to a "hold" rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of C$41.12.

MTY Food Group Stock Up 0.7%

MTY stock traded up C$0.22 during mid-day trading on Tuesday, reaching C$31.37. 258,946 shares of the company traded hands, compared to its average volume of 89,649. The company has a quick ratio of 0.56, a current ratio of 0.75 and a debt-to-equity ratio of 117.99. The firm's 50 day moving average price is C$33.43 and its 200 day moving average price is C$36.35. The stock has a market cap of C$716.52 million, a price-to-earnings ratio of 6.38, a P/E/G ratio of 0.75 and a beta of 0.98. MTY Food Group has a fifty-two week low of C$28.12 and a fifty-two week high of C$45.90.

MTY Food Group (TSE:MTY - Get Free Report) last issued its quarterly earnings data on Friday, October 9th. The company reported C$1.26 EPS for the quarter. MTY Food Group had a return on equity of 12.54% and a net margin of 9.67%. The firm had revenue of C$277.73 million during the quarter. As a group, equities research analysts predict that MTY Food Group will post 4.49 EPS for the current fiscal year.

MTY Food Group Company Profile

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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