Maple Leaf Foods (TSE:MFI) Given New C$35.00 Price Target at Royal Bank Of Canada

Key Points

• The price target for Maple Leaf Foods has been raised from C$33.00 to C$35.00 by Royal Bank Of Canada, indicating a potential upside of 20.48% from the current price.
• Several analysts have given strong ratings for the stock, with Stifel Canada rating it as a "strong-buy" and CIBC increasing their target to C$38.00.
• Maple Leaf Foods' stock decreased by 0.6%, trading at C$29.05, while insiders hold 39.87% of the stock, with a significant sale by a senior officer noted.

Maple Leaf Foods (TSE:MFI - Get Free Report) had its price objective hoisted by stock analysts at Royal Bank Of Canada from C$33.00 to C$35.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 20.98% from the company's current price.

Several other brokerages have also issued reports on MFI. Stifel Canada raised Maple Leaf Foods to a "strong-buy" rating in a research report on Monday, June 2nd. CIBC lifted their price objective on Maple Leaf Foods from C$32.00 to C$38.00 in a report on Wednesday, July 16th. Finally, TD Securities lifted their price objective on Maple Leaf Foods from C$38.00 to C$41.00 and gave the stock a "buy" rating in a report on Tuesday, July 15th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of C$34.60.

Maple Leaf Foods Stock Performance

Shares of Maple Leaf Foods stock traded down C$0.31 during trading hours on Friday, hitting C$28.93. 232,679 shares of the company's stock traded hands, compared to its average volume of 205,727. Maple Leaf Foods has a 12-month low of C$19.61 and a 12-month high of C$30.70. The stock has a market capitalization of C$3.62 billion, a price-to-earnings ratio of 106.76, a PEG ratio of 18.07 and a beta of 0.47. The company has a fifty day simple moving average of C$28.62 and a 200-day simple moving average of C$25.59. The company has a debt-to-equity ratio of 130.19, a current ratio of 1.26 and a quick ratio of 0.54.

Insiders Place Their Bets

In other Maple Leaf Foods news, Senior Officer Olajumoke Fagbemi sold 3,600 shares of Maple Leaf Foods stock in a transaction dated Friday, May 16th. The stock was sold at an average price of C$26.33, for a total transaction of C$94,788.00. Following the completion of the transaction, the insider owned 28 shares of the company's stock, valued at C$737.24. The trade was a 99.23% decrease in their position. 39.87% of the stock is owned by 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.