Scotiabank Cuts Maple Leaf Foods (TSE:MFI) Price Target to C$31.50

Maple Leaf Foods (TSE:MFI - Get Free Report) had its price objective lowered by Scotiabank from C$33.50 to C$31.50 in a research note issued to investors on Friday, BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Scotiabank's target price suggests a potential upside of 32.74% from the stock's current price.

Several other research firms have also recently weighed in on MFI. Royal Bank of Canada reduced their target price on shares of Maple Leaf Foods from C$32.00 to C$29.00 and set an "outperform" rating for the company in a research note on Friday, February 23rd. BMO Capital Markets dropped their price target on shares of Maple Leaf Foods from C$31.00 to C$29.00 in a research report on Friday, February 23rd. National Bankshares set a C$29.00 price target on shares of Maple Leaf Foods and gave the stock an "outperform" rating in a research report on Monday, April 22nd. CIBC dropped their price target on shares of Maple Leaf Foods from C$32.00 to C$31.00 and set an "outperform" rating for the company in a research report on Friday. Finally, Canaccord Genuity Group dropped their price target on shares of Maple Leaf Foods from C$35.00 to C$30.00 and set a "buy" rating for the company in a research report on Friday, February 23rd. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of C$30.07.

Maple Leaf Foods Stock Performance

Shares of TSE MFI traded up C$0.34 during mid-day trading on Friday, hitting C$23.73. The company had a trading volume of 168,225 shares, compared to its average volume of 174,546. The company has a debt-to-equity ratio of 140.69, a current ratio of 1.17 and a quick ratio of 0.54. The business's 50-day simple moving average is C$23.27 and its 200-day simple moving average is C$24.73. Maple Leaf Foods has a 12 month low of C$21.52 and a 12 month high of C$31.63. The firm has a market cap of C$2.91 billion, a P/E ratio of -23.04, a PEG ratio of 18.07 and a beta of 0.48.

Maple Leaf Foods (TSE:MFI - Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported C$0.08 earnings per share for the quarter. Maple Leaf Foods had a negative net margin of 2.57% and a negative return on equity of 7.86%. The business had revenue of C$1.19 billion during the quarter. As a group, analysts predict that Maple Leaf Foods will post 0.994288 earnings per share for the current fiscal year.

Maple Leaf Foods Company Profile

Maple Leaf Foods Inc produces food products in the United States, Canada, Japan, China, and internationally. The company operates through Meat Protein Group and Plant Protein Group segments. It produces various food products, including prepared meats, ready-to-cook and ready-to-serve meals, fresh pork and poultry, and plant protein products; bacon, hams, wieners, and meat snacks; a variety of delicatessen products; and processed chicken products, such as fully cooked chicken breasts and wings, processed turkey products, specialty sausages, cooked meats, sliced meats, cooked sausage products, lunch kits, and canned meats.

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