Canaccord Genuity Group Cuts Maple Leaf Foods (TSE:MFI) Price Target to C$37.00

Maple Leaf Foods (TSE:MFI) had its price target lowered by research analysts at Canaccord Genuity Group from C$39.00 to C$37.00 in a research report issued on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 37.24% from the company’s current price.

Other research analysts have also recently issued reports about the company. Stifel Nicolaus set a C$36.00 price objective on Maple Leaf Foods and gave the stock a “buy” rating in a research report on Thursday, July 9th. Ventum Financial cut their target price on Maple Leaf Foods from C$39.00 to C$37.00 and set a “buy” rating on the stock in a research report on Thursday. Scotiabank decreased their target price on 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 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, May 8th. Finally, Desjardins set a C$39.00 price target on shares of Maple Leaf Foods and gave the company a “buy” rating in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the stock. Based on data from MarketBeat, Maple Leaf Foods presently has an average rating of “Buy” and an average target price of C$36.33.

Maple Leaf Foods Stock Down 1.8%

Shares of Maple Leaf Foods stock traded down C$0.50 during trading on Thursday, hitting C$26.96. 193,340 shares of the stock were exchanged, compared to its average volume of 273,229. The stock 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 firm’s 50-day moving average price is C$29.74 and its 200 day moving average price is C$29.00. 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 debt-to-equity ratio of 91.78, a current ratio of 1.34 and a quick ratio of 0.54.

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

Insider Transactions at Maple Leaf Foods

In other news, Director Curtis Eugene Frank sold 96,191 shares of the company’s stock in a transaction on Monday, May 25th. The shares were sold at an average price of C$29.25, for a total transaction of C$2,813,586.75. Following the transaction, the director directly owned 101,469 shares of the company’s stock, valued at C$2,967,968.25. This represents a 48.66% decrease in their position. Also, insider Randall Huffman sold 5,075 shares of the company’s stock in a transaction dated Monday, May 25th. The stock was sold at an average price of C$29.45, for a total transaction of C$149,458.75. Following the transaction, the insider owned 89,044 shares in the company, valued at C$2,622,345.80. The trade was a 5.39% decrease in their ownership of the stock. In the last three months, insiders sold 137,829 shares of company stock valued at $4,036,811. Corporate insiders own 39.87% of the company’s stock.

Maple Leaf Foods Company Profile

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.