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

Maple Leaf Foods (TSE:MFI) had its price target reduced by Scotiabank from C$33.50 to C$31.50 in a research report issued on Friday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 32.74% from the company’s current price.

A number of other equities analysts have also recently issued reports on the stock. Royal Bank of Canada lowered their price objective 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 report on Friday, February 23rd. TD Securities cut shares of Maple Leaf Foods from an “action list buy” rating to a “buy” rating and lowered their price objective for the stock from C$40.00 to C$31.00 in a research report on Friday, February 23rd. BMO Capital Markets lowered their price objective on shares of Maple Leaf Foods from C$31.00 to C$29.00 in a research report on Friday, February 23rd. Canaccord Genuity Group lowered their price objective 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. Finally, National Bankshares set a C$29.00 price objective on shares of Maple Leaf Foods and gave the stock an “outperform” rating in a research report on Monday, April 22nd. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$30.07.

Maple Leaf Foods Price Performance

Shares of Maple Leaf Foods stock traded up C$0.34 on Friday, reaching C$23.73. 168,225 shares of the stock were exchanged, compared to its average volume of 174,546. The firm’s 50 day moving average is C$23.27 and its 200-day moving average is C$24.73. Maple Leaf Foods has a one year low of C$21.52 and a one year high of C$31.63. The company has a debt-to-equity ratio of 140.69, a quick ratio of 0.54 and a current ratio of 1.17. The firm has a market cap of C$2.91 billion, a PE ratio of -23.04, a P/E/G ratio of 18.07 and a beta of 0.48.

Maple Leaf Foods (TSE:MFI) last issued its quarterly 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 company had revenue of C$1.19 billion during the quarter. As a group, analysts anticipate that Maple Leaf Foods will post 0.994288 EPS for the current fiscal year.

About Maple Leaf Foods

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.