Canaccord Genuity Group Raises Maple Leaf Foods (TSE:MFI) Price Target to C$38.00

Maple Leaf Foods (TSE:MFI) had its price objective increased by equities research analysts at Canaccord Genuity Group from C$37.00 to C$38.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 28.25% from the company’s previous close.

MFI has been the subject of several other reports. Ventum Capital raised their price target on Maple Leaf Foods from C$37.00 to C$39.00 and gave the company a “buy” rating in a report on Friday. National Bank Financial increased their target price on Maple Leaf Foods from C$35.00 to C$37.00 and gave the company an “outperform” rating in a research note on Friday. Scotia boosted their price target on Maple Leaf Foods from C$32.00 to C$36.00 and gave the stock a “sector outperform” rating in a research note on Friday. Royal Bank Of Canada upped their price target on Maple Leaf Foods from C$33.00 to C$34.00 and gave the company an “outperform” rating in a report on Friday. Finally, Scotiabank upgraded Maple Leaf Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the stock. According to MarketBeat, Maple Leaf Foods currently has an average rating of “Buy” and an average price target of C$36.09.

Maple Leaf Foods Stock Down 4.3%

Shares of TSE MFI traded down C$1.33 on Friday, reaching C$29.63. 238,476 shares of the company’s stock traded hands, compared to its average volume of 313,395. The business’s 50 day simple moving average is C$29.26 and its two-hundred day simple moving average is C$27.05. Maple Leaf Foods has a 12 month low of C$23.35 and a 12 month high of C$36.35. The company has a market cap of C$3.69 billion, a price-to-earnings ratio of 6.97, a price-to-earnings-growth ratio of 18.07 and a beta of 0.54. The company has a quick ratio of 0.54, a current ratio of 1.29 and a debt-to-equity ratio of 93.30.

Maple Leaf Foods (TSE:MFI) last posted its quarterly earnings results on Thursday, May 7th. The company reported C$0.34 earnings per share for the quarter. Maple Leaf Foods had a return on equity of 35.43% and a net margin of 11.76%.The company had revenue of C$962.85 million for the quarter. As a group, equities research analysts forecast that Maple Leaf Foods will post 1.4334187 EPS for the current fiscal year.

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. The key brands are Maple Leaf and Schneiders, Maple Leaf Prime Naturally, Shopsy, Mitchell’s Gourmet Food, Larse, Parm, and Hygrade.