Scotiabank Lowers MTY Food Group (TSE:MTY) Price Target to C$42.00

Key Points

• Scotiabank has lowered its price target for MTY Food Group from C$45.00 to C$42.00, maintaining a "sector perform" rating, indicating a potential upside of 11.85% from the stock's previous close.
• Other analysts, including Acumen Capital and Royal Bank of Canada, have also reduced their targets, with MTY Food Group's current consensus rating being "Hold" and an average target price of C$47.50.
• MTY Food Group's stock price is currently down by 1.2%, trading at C$37.55, with a market capitalization of C$857.68 million and a 12-month trading range between C$36.79 and C$53.16.

MTY Food Group (TSE:MTY - Get Free Report) had its price objective dropped by investment analysts at Scotiabank from C$45.00 to C$42.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. Scotiabank's target price would suggest a potential upside of 11.85% from the stock's previous close.

Several other analysts also recently weighed in on MTY. Acumen Capital reduced their target price on MTY Food Group from C$60.00 to C$50.00 and set a "buy" rating for the company in a report on Monday, July 14th. Royal Bank Of Canada dropped their price target on MTY Food Group from C$51.00 to C$48.00 in a research report on Monday, July 14th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of C$47.50.

MTY Food Group Stock Down 1.2%

TSE:MTY traded down C$0.47 during midday trading on Wednesday, reaching C$37.55. The company had a trading volume of 108,384 shares, compared to its average volume of 61,040. The firm has a market capitalization of C$857.68 million, a price-to-earnings ratio of 21.83, a PEG ratio of 0.75 and a beta of 1.18. The stock's fifty day simple moving average is C$38.52 and its 200-day simple moving average is C$40.57. MTY Food Group has a 12-month low of C$36.79 and a 12-month high of C$53.16. The company has a current ratio of 0.61, a quick ratio of 0.57 and a debt-to-equity ratio of 142.67.

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.

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