National Bank Financial Lowers MTY Food Group (TSE:MTY) Price Target to C$43.00

Key Points

• National Bank Financial cut its price target on MTY Food Group to C$43.00 from C$49.00, while keeping an outperform rating. The new target still implies about 28% upside from the current share price.
• Other analysts have also trimmed their targets, including RBC, Raymond James, TD, and Scotiabank, and the stock’s overall consensus rating is now Hold with an average target of C$42.50.
• MTY shares were trading at C$33.59 after a small decline, near their 52-week low, and the company recently reported C$0.98 EPS on C$267.76 million in quarterly revenue.

MTY Food Group (TSE:MTY - Get Free Report) had its price objective cut by investment analysts at National Bank Financial from C$49.00 to C$43.00 in a research note issued to investors on Monday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. National Bank Financial's price target suggests a potential upside of 28.01% from the company's current price.

A number of other research firms also recently issued reports on MTY. Royal Bank Of Canada decreased their price target on shares of MTY Food Group from C$48.00 to C$46.00 and set a "sector perform" rating on the stock in a research note on Monday, April 13th. Raymond James Financial dropped their price objective on shares of MTY Food Group from C$46.00 to C$45.00 and set a "market perform" rating for the company in a research note on Monday, April 13th. TD reduced their target price on shares of MTY Food Group from C$45.00 to C$42.00 and set a "hold" rating on the stock in a report on Monday, April 13th. Finally, Scotiabank decreased their target price on shares of 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. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, MTY Food Group has a consensus rating of "Hold" and an average price target of C$42.50.

MTY Food Group Price Performance

TSE:MTY traded down C$0.16 during trading hours 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 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. The company has a 50 day moving average price of C$38.59 and a two-hundred day moving average price of C$39.67. The stock has a market capitalization of C$767.23 million, a PE ratio of 4.99, a PEG ratio of 0.75 and a beta of 1.00.

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 return on equity of 13.22% and a net margin of 9.78%.The firm had revenue of C$267.76 million during the quarter. As a group, sell-side analysts anticipate 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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