MTY Food Group (TSE:MTY) Price Target Cut to C$41.00 by Analysts at Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut its price target on MTY Food Group from C$46.00 to C$41.00 while keeping a sector perform rating, implying about 22% upside from the current share price.
• Other analysts also lowered targets, and the broader view remains cautious: MTY now has a consensus Hold rating with an average target price of C$42.50.
• The stock was trading at C$33.59, near its 52-week low of C$31.87, and the company recently reported C$0.98 EPS on revenue of C$267.76 million for the quarter.

MTY Food Group (TSE:MTY - Get Free Report) had its price objective lowered by equities researchers at Royal Bank Of Canada from C$46.00 to C$41.00 in a research note issued on Monday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target indicates a potential upside of 22.06% from the stock's current price.

Several other equities research analysts also recently issued reports on the company. Scotiabank reduced their price objective on MTY Food Group from C$46.00 to C$45.00 and set a "sector perform" rating for the company in a research note on Monday, April 13th. Raymond James Financial dropped their target price on MTY Food Group from C$46.00 to C$45.00 and set a "market perform" rating on the stock in a research report on Monday, April 13th. TD cut their price target on MTY Food Group from C$45.00 to C$42.00 and set a "hold" rating for the company in a research note on Monday, April 13th. Finally, National Bank Financial reduced their price target 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. Two investment 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, MTY Food Group has a consensus rating of "Hold" and a consensus target price of C$42.50.

MTY Food Group Price Performance

Shares of TSE MTY traded down C$0.16 during trading on Monday, hitting C$33.59. The company had a trading volume of 181,811 shares, compared to its average volume of 76,176. The business's 50-day moving average is C$38.59 and its 200 day moving average is C$39.67. The company has a market cap of C$767.23 million, a P/E ratio of 4.99, a PEG ratio of 0.75 and a beta of 1.00. The company has a debt-to-equity ratio of 123.64, a quick ratio of 0.56 and a current ratio of 0.73. MTY Food Group has a 52 week low of C$31.87 and a 52 week high of C$45.90.

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