Maple Leaf Foods (TSE:MFI) Given New C$37.00 Price Target at Ventum Financial

Key Points

• Ventum Financial lowered Maple Leaf Foods’ price target to C$37 from C$39 but maintained a “buy” rating, implying approximately 37.24% upside from the prior close.
• Analyst sentiment remains positive, with the stock holding a consensus “Buy” rating and an average price target of C$36.33; Scotiabank also reduced its target to C$33 while maintaining a “sector outperform” rating.
• Maple Leaf Foods reported quarterly revenue of C$1.02 billion and earnings per share of C$0.44. Shares closed at C$26.96, while insiders have sold 137,829 shares worth roughly C$4.04 million over the past 90 days.

Maple Leaf Foods (TSE:MFI - Get Free Report) had its target price reduced by research analysts at Ventum Financial from C$39.00 to C$37.00 in a research report issued on Thursday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Ventum Financial's price target points to a potential upside of 37.24% from the stock's previous close.

Other analysts have also recently issued research reports about the company. Scotiabank decreased their target price on Maple Leaf Foods from C$36.00 to C$33.00 and set a "sector outperform" rating on the stock in a report on Thursday. Royal Bank Of Canada upped their price target on shares of Maple Leaf Foods from C$33.00 to C$34.00 and gave the stock an "outperform" rating in a research report on Friday, May 8th. Ventum Capital increased their price objective on shares of Maple Leaf Foods from C$37.00 to C$39.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Scotia increased their price objective on shares of Maple Leaf Foods from C$32.00 to C$36.00 and gave the stock a "sector outperform" rating in a report on Friday, May 8th. Finally, Canadian Imperial Bank of Commerce set a C$36.00 price objective on shares of Maple Leaf Foods and gave the company an "outperformer" rating in a research report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of C$36.33.

Maple Leaf Foods Price Performance

TSE MFI traded down C$0.50 during trading hours on Thursday, reaching C$26.96. 193,340 shares of the company's stock were exchanged, compared to its average volume of 273,229. The stock has a market cap of C$3.35 billion, a PE ratio of 6.40, a price-to-earnings-growth ratio of 18.07 and a beta of 0.32. Maple Leaf Foods has a one year low of C$23.35 and a one year high of C$36.35. The firm has a fifty day moving average of C$29.74 and a 200-day moving average of C$29.00. The company has a current ratio of 1.34, a quick ratio of 0.54 and a debt-to-equity ratio of 91.78.

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

Insider Activity at Maple Leaf Foods

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

Maple Leaf Foods Company Profile

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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