Maple Leaf Foods (TSE:MFI) Given New C$33.00 Price Target at Scotiabank

Key Points

• Scotiabank lowered Maple Leaf Foods’ price target from C$36.00 to C$33.00 while maintaining a “sector outperform” rating, implying 22.4% upside from the prior close.
• Analyst sentiment remains positive, with the stock carrying a consensus “Buy” rating and an average price target of C$36.33 from MarketBeat.
• Maple Leaf Foods shares fell 1.8% to C$26.96. The company recently reported quarterly EPS of C$0.44 and revenue of C$1.02 billion, while insiders sold approximately C$4.04 million worth of shares over the past three months.

Maple Leaf Foods (TSE:MFI - Get Free Report) had its price target dropped by equities research analysts at Scotiabank from C$36.00 to C$33.00 in a report issued on Thursday,BayStreet.CA reports. The firm currently has a "sector outperform" rating on the stock. Scotiabank's target price would suggest a potential upside of 22.40% from the company's previous close.

Several other research analysts have also recently issued reports on MFI. Ventum Financial set a C$37.00 target price on shares of Maple Leaf Foods and gave the stock a "buy" rating in a report on Wednesday, April 22nd. Desjardins set a C$39.00 price objective on shares of Maple Leaf Foods and gave the stock a "buy" rating in a report on Thursday, June 4th. Canadian Imperial Bank of Commerce set a C$36.00 target price on Maple Leaf Foods and gave the company an "outperformer" rating in a research note on Monday, July 27th. Canaccord Genuity Group boosted their price target on Maple Leaf Foods from C$37.00 to C$38.00 and gave the stock a "buy" rating in a research note on Friday, May 8th. Finally, Royal Bank Of Canada increased their price objective on Maple Leaf Foods from C$33.00 to C$34.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of C$36.33.

Maple Leaf Foods Stock Down 1.8%

Shares of TSE:MFI traded down C$0.50 during midday trading on Thursday, reaching C$26.96. The company's stock had a trading volume of 193,340 shares, compared to its average volume of 273,229. The company has a quick ratio of 0.54, a current ratio of 1.34 and a debt-to-equity ratio of 91.78. The firm has a 50 day moving average of C$29.74 and a 200-day moving average of C$29.00. The firm has a market capitalization of C$3.35 billion, a P/E ratio of 6.40, a PEG ratio of 18.07 and a beta of 0.32. Maple Leaf Foods has a 12-month low of C$23.35 and a 12-month high of C$36.35.

Maple Leaf Foods (TSE:MFI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported C$0.44 EPS for the quarter. The business had revenue of C$1.02 billion for the quarter. Maple Leaf Foods had a net margin of 12.44% and a return on equity of 36.56%. On average, research analysts anticipate that Maple Leaf Foods will post 1.4334187 earnings per share for the current year.

Insiders Place Their Bets

In other Maple Leaf Foods news, insider Randall Huffman sold 5,075 shares of the company's stock in a transaction that occurred on Monday, May 25th. The stock was sold at an average price of C$29.45, for a total value of C$149,458.75. Following the completion of the transaction, the insider directly owned 89,044 shares in the company, valued at C$2,622,345.80. This represents a 5.39% decrease in their position. Also, Director Curtis Eugene Frank sold 96,191 shares of the company's stock in a transaction on Monday, May 25th. The stock was sold at an average price of C$29.25, for a total transaction of C$2,813,586.75. Following the transaction, the director owned 101,469 shares of the company's stock, valued at approximately C$2,967,968.25. This represents a 48.66% decrease in their position. Insiders sold a total of 137,829 shares of company stock worth $4,036,811 over the last three months. 39.87% of the stock is currently owned by company insiders.

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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