MTY Food Group (TSE:MTY) Price Target Lowered to C$40.00 at Raymond James Financial

Key Points

• Raymond James Financial cut its price target on MTY Food Group to C$40.00 from C$45.00 and kept a market perform rating, implying about 19% upside from the previous close.
• Other brokers also lowered targets this week, including Scotiabank, TD, Royal Bank of Canada, and National Bank Financial, leaving the stock with a consensus Hold rating and average target of C$42.50.
• MTY Food Group shares were down 0.5% to C$33.59, while the company reported quarterly EPS of C$0.98 on revenue of C$267.76 million in its latest earnings release.

MTY Food Group (TSE:MTY - Get Free Report) had its target price cut by investment analysts at Raymond James Financial from C$45.00 to C$40.00 in a report issued on Monday,BayStreet.CA reports. The firm presently has a "market perform" rating on the stock. Raymond James Financial's price target points to a potential upside of 19.08% from the stock's previous close.

Several other brokerages have also recently issued reports on MTY. Scotiabank cut their target price on MTY Food Group from C$46.00 to C$45.00 and set a "sector perform" rating on the stock in a research report on Monday, April 13th. TD lowered their price target on MTY Food Group from C$42.00 to C$38.00 and set a "hold" rating for the company in a research report on Monday. Scotia dropped their price objective on MTY Food Group from C$45.00 to C$40.00 and set a "sector perform" rating on the stock in a research note on Monday. Royal Bank Of Canada dropped their price objective on MTY Food Group from C$46.00 to C$41.00 and set a "sector perform" rating on the stock in a research note on Monday. Finally, National Bank Financial cut their price objective on shares of MTY Food Group from C$49.00 to C$43.00 and set an "outperform" rating on the stock in a report on Monday. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, MTY Food Group currently has an average rating of "Hold" and a consensus price target of C$42.50.

MTY Food Group Stock Down 0.5%

MTY stock traded down C$0.16 during mid-day trading on Monday, reaching C$33.59. 181,811 shares of the company traded hands, compared to its average volume of 76,176. The stock has a market cap of C$767.23 million, a price-to-earnings ratio of 4.99, a P/E/G ratio of 0.75 and a beta of 1.00. The company has a quick ratio of 0.56, a current ratio of 0.73 and a debt-to-equity ratio of 123.64. MTY Food Group has a fifty-two week low of C$31.87 and a fifty-two week high of C$45.90. The firm's 50 day moving average price is C$38.59 and its 200 day moving average price is C$39.67.

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

MTY Food Group Company Profile

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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