National Bank Financial Issues Pessimistic Forecast for Maple Leaf Foods (TSE:MFI) Stock Price

Key Points

• National Bank Financial cut Maple Leaf Foods’ price target to C$34 from C$36 while maintaining an “outperform” rating, implying about 26% upside from the reported C$26.96 share price.
• Analyst sentiment remains broadly positive: Maple Leaf Foods has a consensus “Buy” rating and an average price target of C$36.33, with targets from other firms ranging as high as C$39.
• The stock declined to C$26.96, below its 50-day and 200-day moving averages. Recent results included C$0.44 quarterly EPS and C$1.02 billion in revenue, while insiders sold approximately 137,829 shares over the past 90 days.

Maple Leaf Foods (TSE:MFI - Get Free Report) had its target price cut by investment analysts at National Bank Financial from C$36.00 to C$34.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. National Bank Financial's price objective indicates a potential upside of 26.11% from the stock's current price.

A number of other research analysts have also weighed in on the stock. Ventum Capital lifted their price objective on shares of Maple Leaf Foods from C$37.00 to C$39.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Canadian Imperial Bank of Commerce set a C$36.00 target price on Maple Leaf Foods and gave the stock an "outperformer" rating in a research report on Monday, July 27th. Stifel Nicolaus set a C$36.00 price target on Maple Leaf Foods and gave the stock a "buy" rating in a report on Thursday, July 9th. Scotia lifted their price target on Maple Leaf Foods from C$32.00 to C$36.00 and gave the company a "sector outperform" rating in a research report on Friday, May 8th. Finally, Desjardins set a C$39.00 price objective on Maple Leaf Foods and gave the company a "buy" rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the stock. According to MarketBeat, Maple Leaf Foods has a consensus rating of "Buy" and a consensus price target of C$36.33.

Maple Leaf Foods Stock Performance

TSE:MFI traded down C$0.50 on Thursday, reaching C$26.96. 193,340 shares of the company's stock were exchanged, compared to its average volume of 273,229. The company has a debt-to-equity ratio of 91.78, a current ratio of 1.34 and a quick ratio of 0.54. The firm has a market cap of C$3.35 billion, a price-to-earnings ratio of 6.40, a P/E/G ratio of 18.07 and a beta of 0.32. Maple Leaf Foods has a 52 week low of C$23.35 and a 52 week high of C$36.35. The stock has a fifty day simple moving average of C$29.74 and a 200-day simple moving average of C$29.00.

Maple Leaf Foods (TSE:MFI - Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported C$0.44 earnings per share for the quarter. Maple Leaf Foods had a net margin of 12.44% and a return on equity of 36.56%. The firm had revenue of C$1.02 billion during the quarter. As a group, sell-side analysts predict that Maple Leaf Foods will post 1.4334187 earnings per share for the current year.

Insider Activity at Maple Leaf Foods

In other news, Director Curtis Eugene Frank sold 96,191 shares of the company's stock in a transaction dated Monday, May 25th. The stock was sold at an average price of C$29.25, for a total value of C$2,813,586.75. Following the completion of the transaction, the director directly owned 101,469 shares in the company, valued at approximately C$2,967,968.25. This represents a 48.66% decrease in their position. Also, insider Adam John Grogan sold 32,063 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of C$29.37, for a total value of C$941,690.31. Following the transaction, the insider owned 41,277 shares in the company, valued at C$1,212,305.49. This trade represents a 43.72% decrease in their ownership of the stock. Insiders have sold a total of 137,829 shares of company stock valued at $4,036,811 over the last 90 days. 39.87% of the stock is owned by insiders.

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. The key brands are Maple Leaf and Schneiders, Maple Leaf Prime Naturally, Shopsy, Mitchell's Gourmet Food, Larse, Parm, and Hygrade.

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