Scotiabank Issues Pessimistic Forecast for Maple Leaf Foods (TSE:MFI) Stock Price

Key Points

• Scotiabank has reduced its price target for Maple Leaf Foods from C$35.00 to C$32.00, indicating a potential upside of 12.01% from the last closing price.
• Other research firms have also adjusted their price targets, with TD Securities setting a target of C$43.00 and Royal Bank of Canada lowering its target to C$34.00, suggesting mixed analyst sentiments on the stock.
• Maple Leaf Foods currently has a consensus target price of C$36.69 based on ratings, with one analyst labeling it a Strong Buy and seven others giving it a Buy rating.

Maple Leaf Foods (TSE:MFI - Get Free Report) had its price target decreased by Scotiabank from C$35.00 to C$32.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. Scotiabank's target price would indicate a potential upside of 12.01% from the company's previous close.

A number of other research firms have also weighed in on MFI. TD Securities dropped their price objective on Maple Leaf Foods from C$47.00 to C$43.00 and set a "buy" rating for the company in a research note on Thursday, October 2nd. Royal Bank Of Canada decreased their price objective on Maple Leaf Foods from C$38.00 to C$34.00 and set an "outperform" rating for the company in a report on Wednesday. National Bankshares increased their price objective on Maple Leaf Foods from C$36.00 to C$39.00 and gave the stock an "outperform" rating in a report on Friday, September 12th. BMO Capital Markets set a C$35.00 price objective on Maple Leaf Foods and gave the stock an "outperform" rating in a report on Friday, October 3rd. Finally, CIBC raised their price target on Maple Leaf Foods from C$32.00 to C$38.00 in a report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Maple Leaf Foods has an average rating of "Buy" and a consensus target price of C$36.69.

Maple Leaf Foods Price Performance

Shares of MFI traded down C$0.71 during midday trading on Wednesday, hitting C$28.57. 163,180 shares of the company traded hands, compared to its average volume of 224,114. The company has a debt-to-equity ratio of 130.19, a current ratio of 1.26 and a quick ratio of 0.54. The stock has a 50-day moving average of C$34.07 and a 200-day moving average of C$29.34. The firm has a market cap of C$3.56 billion, a P/E ratio of 19.84, a PEG ratio of 18.07 and a beta of 0.70. Maple Leaf Foods has a one year low of C$19.61 and a one year high of C$36.35.

Insider Activity at Maple Leaf Foods

In other Maple Leaf Foods news, insider Andreas Liris sold 1,000 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of C$34.77, for a total value of C$34,770.00. Following the completion of the transaction, the insider directly owned 14,001 shares in the company, valued at C$486,814.77. This represents a 6.67% decrease in their position. Also, insider Olajumoke Fagbemi acquired 2,651 shares of the firm's stock in a transaction dated Wednesday, August 27th. The shares were purchased at an average cost of C$35.71 per share, for a total transaction of C$94,665.62. Following the completion of the acquisition, the insider directly owned 2,679 shares in the company, valued at approximately C$95,665.48. This represents a 9,467.86% increase in their ownership of the stock. Corporate insiders own 39.87% of the company's stock.

About Maple Leaf Foods

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.