Maple Leaf Foods (TSE:MFI) Price Target Lowered to C$34.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has lowered its price target for Maple Leaf Foods from C$38.00 to C$34.00, suggesting a potential upside of 19.01% from the previous close.
• The stock has recently experienced a 2.4% decline, trading at C$28.57, with a market capitalization of C$3.56 billion.
• Analyst ratings show a consensus of "Buy" with an average target price of C$36.69, indicating positive outlook among various research analysts.

Maple Leaf Foods (TSE:MFI - Get Free Report) had its price objective dropped by Royal Bank Of Canada from C$38.00 to C$34.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price target suggests a potential upside of 19.01% from the company's previous close.

A number of other equities research analysts also recently weighed in on MFI. BMO Capital Markets set a C$35.00 price objective on shares of Maple Leaf Foods and gave the company an "outperform" rating in a research report on Friday, October 3rd. Scotiabank boosted their price objective on shares of Maple Leaf Foods from C$30.00 to C$35.00 and gave the company a "sector perform" rating in a research report on Friday, August 8th. TD Securities lowered their price objective on shares of Maple Leaf Foods from C$47.00 to C$43.00 and set a "buy" rating for the company in a research report on Thursday, October 2nd. CIBC boosted their price objective on shares of Maple Leaf Foods from C$32.00 to C$38.00 in a research report on Wednesday, July 16th. Finally, Stifel Nicolaus boosted their price objective on shares of Maple Leaf Foods from C$36.50 to C$40.50 and gave the company a "buy" rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of C$36.69.

Maple Leaf Foods Stock Down 2.4%

Shares of Maple Leaf Foods stock traded down C$0.71 during trading on Wednesday, reaching C$28.57. The company had a trading volume of 163,180 shares, compared to its average volume of 224,114. The company has a market cap of C$3.56 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 18.07 and a beta of 0.70. The firm's fifty day moving average is C$34.07 and its 200-day moving average is C$29.34. The company has a debt-to-equity ratio of 130.19, a quick ratio of 0.54 and a current ratio of 1.26. Maple Leaf Foods has a fifty-two week low of C$19.61 and a fifty-two week high of C$36.35.

Insider Activity at Maple Leaf Foods

In related news, insider Olajumoke Fagbemi acquired 2,651 shares of the firm's stock in a transaction dated Wednesday, August 27th. The stock was acquired at an average cost of C$35.71 per share, for a total transaction of C$94,665.62. Following the completion of the acquisition, the insider directly owned 2,679 shares of the company's stock, valued at approximately C$95,665.48. The trade was a 9,467.86% increase in their position. Also, insider Andreas Liris sold 1,000 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of C$34.77, for a total transaction of C$34,770.00. Following the completion of the transaction, the insider owned 14,001 shares of the company's stock, valued at C$486,814.77. This trade represents a 6.67% decrease in their ownership of the stock. 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.

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