Goodfood Market (TSE:FOOD) Price Target Lowered to C$11.50 at Scotiabank

Goodfood Market (TSE:FOOD) had its target price decreased by stock analysts at Scotiabank from C$13.00 to C$11.50 in a note issued to investors on Thursday, BayStreet.CA reports. Scotiabank’s price target suggests a potential upside of 33.41% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. National Bank Financial upped their price objective on shares of Goodfood Market from C$12.75 to C$14.25 and gave the company an “outperform” rating in a research note on Monday, January 18th. BMO Capital Markets reaffirmed a “market perform” rating and issued a C$14.00 price objective on shares of Goodfood Market in a research note on Friday, February 26th. National Bankshares cut their price objective on shares of Goodfood Market from C$13.75 to C$13.00 and set an “outperform” rating for the company in a research note on Monday. Eight Capital cut their price objective on shares of Goodfood Market from C$17.00 to C$15.00 in a research note on Thursday. Finally, Canaccord Genuity cut their price objective on shares of Goodfood Market from C$14.00 to C$12.00 and set an “outperform” rating for the company in a research note on Thursday, April 1st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of C$12.22.

FOOD stock traded up C$0.54 during midday trading on Thursday, reaching C$8.62. The company had a trading volume of 890,326 shares, compared to its average volume of 705,196. The company has a debt-to-equity ratio of 94.25, a current ratio of 2.19 and a quick ratio of 1.98. Goodfood Market has a 1 year low of C$3.25 and a 1 year high of C$14.72. The company has a market capitalization of C$626.11 million and a P/E ratio of -331.54. The firm has a 50-day moving average price of C$9.68 and a 200-day moving average price of C$10.02.

About Goodfood Market

Goodfood Market Corp., an online grocery company, delivers fresh meals and grocery products in Canada. The company offers ready-to-eat and breakfast meals, which include ready-to-blend smoothies and other breakfast items, prepared meals, cooked meats and sides, and salads and soups; and private-label grocery items in various categories, such as bakery, dessert, meat and seafood, drinks, pantry, produce, snacks, dairy, and kitchen essentials, as well as olive oil, juice, and chocolate cookies.

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