Maple Leaf Foods (TSE:MFI) Given New C$37.00 Price Target at Canaccord Genuity Group

Maple Leaf Foods (TSE:MFI) had its price target dropped by Canaccord Genuity Group from C$39.00 to C$37.00 in a report released on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 37.24% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Scotiabank lowered their target price on shares of Maple Leaf Foods from C$36.00 to C$33.00 and set a “sector outperform” rating for the company in a research note on Thursday. Ventum Capital upped their price objective on shares of Maple Leaf Foods from C$37.00 to C$39.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Stifel Nicolaus set a C$36.00 price objective on shares of Maple Leaf Foods and gave the stock a “buy” rating in a report on Thursday, July 9th. Canadian Imperial Bank of Commerce set a C$36.00 price objective on shares of Maple Leaf Foods and gave the stock an “outperformer” rating in a research report on Monday, July 27th. Finally, Desjardins set a C$39.00 target price on shares of Maple Leaf Foods and gave the company a “buy” rating in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$36.33.

Maple Leaf Foods Trading Down 1.8%

TSE:MFI traded down C$0.50 on Thursday, reaching C$26.96. The company’s stock had a trading volume of 193,340 shares, compared to its average volume of 273,229. Maple Leaf Foods has a 12-month low of C$23.35 and a 12-month high of C$36.35. The stock has a 50 day moving average price of C$29.74 and a 200 day moving average price of C$29.00. The firm has a market cap of C$3.35 billion, a price-to-earnings ratio of 6.40, a price-to-earnings-growth ratio of 18.07 and a beta of 0.32. The company has a quick ratio of 0.54, a current ratio of 1.34 and a debt-to-equity ratio of 91.78.

Maple Leaf Foods (TSE:MFI) last released its quarterly earnings results on Wednesday, August 12th. The company reported C$0.44 earnings per share for the quarter. The business had revenue of C$1.02 billion during the quarter. Maple Leaf Foods had a return on equity of 36.56% and a net margin of 12.44%. On average, equities analysts anticipate that Maple Leaf Foods will post 1.4334187 EPS for the current fiscal year.

Insider Buying and Selling

In other Maple Leaf Foods news, insider Adam John Grogan sold 32,063 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of C$29.37, for a total value of C$941,690.31. Following the sale, the insider owned 41,277 shares of the company’s stock, valued at C$1,212,305.49. This trade represents a 43.72% decrease in their position. Also, Director Curtis Eugene Frank sold 96,191 shares of Maple Leaf Foods stock in a transaction dated Monday, May 25th. The shares were sold at an average price of C$29.25, for a total value of C$2,813,586.75. Following the completion of the transaction, the director owned 101,469 shares of the company’s stock, valued at C$2,967,968.25. The trade was a 48.66% decrease in their position. Insiders sold 137,829 shares of company stock valued at $4,036,811 in the last three months. 39.87% of the stock is owned by corporate insiders.

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.