MTY Food Group (TSE:MTY) Given New C$48.00 Price Target at Acumen Capital

Key Points

• Acumen Capital lowered its price target on MTY Food Group to C$48.00 from C$50.00, but still kept a buy rating. The new target implies about 42.9% upside from the previous close.
• Other analysts were also more cautious, with several cutting their targets and the overall consensus now sitting at Hold. The average price target across analysts is C$42.50.
• MTY Food Group shares fell 0.5% to C$33.59 as the company’s latest results showed C$0.98 EPS on C$267.76 million in revenue. The stock has traded between C$31.87 and C$45.90 over the past year.

MTY Food Group (TSE:MTY - Get Free Report) had its price objective dropped by analysts at Acumen Capital from C$50.00 to C$48.00 in a report released on Monday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Acumen Capital's target price would suggest a potential upside of 42.90% from the company's previous close.

Several other equities analysts have also issued reports on MTY. Raymond James Financial cut their price target on shares of MTY Food Group from C$45.00 to C$40.00 and set a "market perform" rating on the stock in a report on Monday. National Bank Financial decreased their price objective on MTY Food Group from C$49.00 to C$43.00 and set an "outperform" rating for the company in a report on Monday. TD dropped their target price on MTY Food Group from C$42.00 to C$38.00 and set a "hold" rating on the stock in a research note on Monday. Royal Bank Of Canada reduced their target price on MTY Food Group from C$46.00 to C$41.00 and set a "sector perform" rating on the stock in a research report on Monday. Finally, Scotia decreased their price target on MTY Food Group from C$45.00 to C$40.00 and set a "sector perform" rating for the company in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of C$42.50.

MTY Food Group Stock Down 0.5%

Shares of MTY Food Group stock traded down C$0.16 on Monday, reaching C$33.59. The stock had a trading volume of 181,811 shares, compared to its average volume of 76,176. The company has a quick ratio of 0.56, a current ratio of 0.73 and a debt-to-equity ratio of 123.64. The stock has a market capitalization of C$767.23 million, a P/E ratio of 4.99, a P/E/G ratio of 0.75 and a beta of 1.00. The company has a 50 day moving average price of C$38.59 and a 200 day moving average price of C$39.67. MTY Food Group has a 1 year low of C$31.87 and a 1 year high of C$45.90.

MTY Food Group (TSE:MTY - Get Free Report) last posted its earnings results on Friday, April 10th. The company reported C$0.98 EPS for the quarter. MTY Food Group had a net margin of 9.78% and a return on equity of 13.22%. The company had revenue of C$267.76 million during the quarter. As a group, equities research analysts forecast that MTY Food Group will post 4.4909091 EPS for the current year.

About MTY Food Group

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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