Desjardins Has Lowered Expectations for Maple Leaf Foods (TSE:MFI) Stock Price

Maple Leaf Foods (TSE:MFI) had its target price reduced by equities research analysts at Desjardins from C$36.00 to C$33.00 in a note issued to investors on Thursday, BayStreet reports. The brokerage presently has a “buy” rating on the stock. Desjardins‘s price objective would suggest a potential upside of 22.68% from the stock’s current price.

A number of other analysts have also recently commented on MFI. Stifel Nicolaus set a C$36.00 price objective on Maple Leaf Foods and gave the company a “buy” rating in a research report on Thursday, July 9th. National Bank Financial dropped their target price on Maple Leaf Foods from C$34.00 to C$29.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 14th. Scotiabank cut their price target 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, August 13th. Canaccord Genuity Group reduced their price target on shares of Maple Leaf Foods from C$39.00 to C$37.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Finally, Ventum Capital reduced their price target on shares of Maple Leaf Foods from C$37.00 to C$35.00 and set a “buy” rating for the company in a research report on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$34.45.

Maple Leaf Foods Stock Down 0.9%

MFI stock traded down C$0.24 during midday trading on Thursday, hitting C$26.90. The company’s stock had a trading volume of 381,725 shares, compared to its average volume of 276,707. The company has a market cap of C$3.34 billion, a PE ratio of 6.61, a P/E/G ratio of 18.07 and a beta of 0.39. The company has a current ratio of 1.41, a quick ratio of 0.54 and a debt-to-equity ratio of 6.45. Maple Leaf Foods has a 12 month low of C$23.35 and a 12 month high of C$31.87. The firm’s 50-day moving average is C$26.03 and its 200-day moving average is C$28.08.

Maple Leaf Foods (TSE:MFI) last released its quarterly earnings data on Wednesday, November 4th. The company reported C$0.36 EPS for the quarter. The company had revenue of C$1.03 billion for the quarter. Maple Leaf Foods had a return on equity of 37.16% and a net margin of 12.48%. On average, equities research analysts forecast that Maple Leaf Foods will post 1.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Maple Leaf Foods

In other Maple Leaf Foods news, Director Andrew Gordon Macdonald purchased 10,000 shares of Maple Leaf Foods stock in a transaction that occurred on Friday, September 4th. The shares were bought at an average price of C$26.78 per share, for a total transaction of C$267,800.00. Following the completion of the transaction, the director owned 72,200 shares of the company’s stock, valued at approximately C$1,933,516. This trade represents a 16.08% increase in their position. Company insiders own 39.87% of the company’s stock.

Maple Leaf Foods News Roundup

Here are the key news stories impacting Maple Leaf Foods this week:

• Neutral Sentiment: TD and Stifel cut their price targets to C$35 from C$36, while keeping “buy” ratings; Desjardins lowered its target to C$33 from C$36 and also retained “buy.” RBC trimmed its target to C$33 from C$34 but maintained “outperform.” The new targets imply about 23%–30% upside, tempering the negative signal from the reductions. TD analyst rating
• Negative Sentiment: Scotiabank downgraded Maple Leaf from “sector outperform” to “hold,” despite raising its target to C$33 from C$30. The rating cut signals less conviction in near-term performance. Scotiabank analyst rating
• Negative Sentiment: Reports of rising fuel surcharges and higher feed costs point to cost pressure in poultry. Higher poultry prices may help pass those costs on, but the extent of the offset is unclear. Report on fuel surcharges and feed costs

About Maple Leaf Foods

Maple Leaf Foods (TSX: MFI) is a purpose-driven, protein-focused, brand-led consumer packaged goods company headquartered in Mississauga, Ontario. It proudly produces responsibly made, delicious food under powerhouse brands that include Maple Leaf, Maple Leaf Prime, Maple Leaf Natural Selections, Maple Leaf Mighty Protein, Musafir, Schneiders, Mina Halal, Greenfield Natural Meat Co, LightLife, Field Roast, and Yves Veggie Cuisine. Committed to Raising the Good in Food and bringing customers protein with purpose, Maple Leaf Foods delivers shared value for all its stakeholders by leading the way in safety and sustainability, building loved brands, operating with excellence, developing extraordinary talent, and broadening its impact through innovation and geographic reach.