Raymond James Financial Cuts MTY Food Group (TSE:MTY) Price Target to C$45.00

Key Points

• Raymond James cut its price target on MTY Food Group from C$46.00 to C$45.00 and kept a "market perform" rating; the new target implies about a 19.05% upside from the stock's recent price.
• Analyst sentiment is mixed: the consensus rating is "Hold" with a consensus price target of C$46.00, based on two Buy and five Hold recommendations from covering analysts.
• Recent trading and fundamentals: MTY traded at C$37.80 (market cap ~C$863.4M), with a P/E of 7.3; last quarter EPS was C$0.98 on C$267.77M revenue and analysts forecast roughly 4.49 EPS for the current year.

MTY Food Group (TSE:MTY - Get Free Report) had its price objective dropped by research analysts at Raymond James Financial from C$46.00 to C$45.00 in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has a "market perform" rating on the stock. Raymond James Financial's target price suggests a potential upside of 19.05% from the stock's current price.

Other research analysts also recently issued reports about the stock. Scotiabank upped their price target on shares of MTY Food Group from C$41.00 to C$46.00 and gave the stock a "sector perform" rating in a report on Friday, February 20th. National Bank Financial set a C$49.00 price target on shares of MTY Food Group and gave the company an "outperform" rating in a research report on Monday, April 6th. TD Securities upped their price target on shares of MTY Food Group from C$37.00 to C$45.00 and gave the company a "hold" rating in a research report on Friday, February 20th. Finally, Royal Bank Of Canada upped their price target on shares of MTY Food Group from C$45.00 to C$48.00 and gave the company a "sector perform" rating in a research report on Friday, February 20th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, MTY Food Group currently has an average rating of "Hold" and a consensus price target of C$46.00.

MTY Food Group Price Performance

Shares of TSE:MTY traded down C$1.05 during trading on Monday, hitting C$37.80. 41,844 shares of the company were exchanged, compared to its average volume of 89,238. The business's 50 day moving average is C$40.55 and its 200-day moving average is C$38.56. The company has a market capitalization of C$863.39 million, a P/E ratio of 7.30, a price-to-earnings-growth ratio of 0.75 and a beta of 0.85. The company has a quick ratio of 0.57, a current ratio of 0.69 and a debt-to-equity ratio of 127.62. MTY Food Group has a 1-year low of C$32.92 and a 1-year high of C$46.36.

MTY Food Group (TSE:MTY - Get Free Report) last announced its quarterly earnings results on Friday, April 10th. The company reported C$0.98 earnings per share (EPS) for the quarter. The company had revenue of C$267.77 million during the quarter. MTY Food Group had a net margin of 13.14% and a return on equity of 18.59%. Equities analysts forecast that MTY Food Group will post 4.4909091 earnings per share for the current year.

MTY Food Group Company Profile

MTY Food Group Inc is a franchisor in the quick service and casual dining food industry. Its activities consist of franchising and operating corporate-owned locations as well as the sale of retail products under a multitude of banners. The company's operating segment is based on geographical regions namely Canada and US and International. It generates maximum revenue from Canada. The company brands include Big Smoke Burger, Cafe Depot, Country Style, Croissant Plus, Cultures, Extremepita, Fabrika, Jus Jugo Juice, Koya Japan, ManchuWok, Muffin plus, Valentine, Van Houtte, Shushiman and others.

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