Scotiabank Issues Positive Forecast for Maple Leaf Foods (TSE:MFI) Stock Price

Maple Leaf Foods (TSE:MFI) had its target price increased by equities research analysts at Scotiabank from C$27.00 to C$30.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 4.28% from the stock’s previous close.

Several other brokerages also recently issued reports on MFI. Royal Bank Of Canada set a C$33.00 price target on shares of Maple Leaf Foods and gave the company an “outperform” rating in a report on Thursday, November 27th. National Bank Financial raised their price target on Maple Leaf Foods from C$33.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Friday. Canadian Imperial Bank of Commerce reduced their price objective on Maple Leaf Foods from C$36.00 to C$35.00 in a research report on Thursday, November 6th. BMO Capital Markets dropped their price objective on Maple Leaf Foods from C$35.00 to C$33.00 in a research report on Thursday, November 6th. Finally, Stifel Nicolaus boosted their target price on shares of Maple Leaf Foods from C$32.00 to C$35.00 and gave the company a “buy” rating in a research note on Friday. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$34.57.

Maple Leaf Foods Price Performance

Shares of MFI stock traded up C$0.46 during midday trading on Friday, reaching C$28.77. 201,491 shares of the company traded hands, compared to its average volume of 295,262. The firm has a market cap of C$3.59 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 18.07 and a beta of 0.75. The company has a debt-to-equity ratio of 100.37, a current ratio of 1.47 and a quick ratio of 0.54. The firm’s 50 day simple moving average is C$26.29 and its two-hundred day simple moving average is C$28.39. Maple Leaf Foods has a 1-year low of C$22.57 and a 1-year high of C$36.35.

Maple Leaf Foods (TSE:MFI) last posted its earnings results on Thursday, March 5th. The company reported C$0.32 earnings per share for the quarter. Maple Leaf Foods had a return on equity of 12.88% and a net margin of 4.22%.The company had revenue of C$991.24 million for the quarter. On average, equities research analysts expect 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.