Desjardins Reiterates “C$39.00” Price Target for Maple Leaf Foods (TSE:MFI)

Maple Leaf Foods (TSE:MFI) has been assigned a C$39.00 target price by equities researchers at Desjardins in a research report issued on Wednesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ target price would indicate a potential upside of 31.62% from the company’s previous close.

A number of other brokerages have also issued reports on MFI. Ventum Capital increased their target price on shares of Maple Leaf Foods from C$37.00 to C$39.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Scotia upped their price target on shares of Maple Leaf Foods from C$32.00 to C$36.00 and gave the company a “sector outperform” rating in a report on Friday, May 8th. Canaccord Genuity Group upped their price target on shares of Maple Leaf Foods from C$37.00 to C$38.00 and gave the company a “buy” rating in a report on Friday, May 8th. Ventum Financial set a C$37.00 price target on shares of Maple Leaf Foods and gave the company a “buy” rating in a report on Wednesday, April 22nd. Finally, Royal Bank Of Canada upped their price target on shares of Maple Leaf Foods from C$33.00 to C$34.00 and gave the company an “outperform” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$36.33.

Maple Leaf Foods Price Performance

MFI traded up C$0.49 on Wednesday, reaching C$29.63. The company had a trading volume of 86,171 shares, compared to its average volume of 302,048. The company has a fifty day moving average of C$29.43 and a 200-day moving average of C$27.15. The company has a market capitalization of C$3.69 billion, a P/E ratio of 7.04, a PEG ratio of 18.07 and a beta of 0.54. The company has a current ratio of 1.34, a quick ratio of 0.54 and a debt-to-equity ratio of 91.78. Maple Leaf Foods has a one year low of C$23.35 and a one year high of C$36.35.

Maple Leaf Foods (TSE:MFI) last announced its earnings results on Thursday, May 7th. The company reported C$0.34 earnings per share (EPS) for the quarter. The firm had revenue of C$962.85 million during the quarter. Maple Leaf Foods had a net margin of 12.44% and a return on equity of 36.56%. As a group, equities research analysts anticipate that Maple Leaf Foods will post 1.4334187 earnings per share for the current year.

Insider Activity at Maple Leaf Foods

In other Maple Leaf Foods news, insider Randall Huffman sold 5,075 shares of the company’s stock in a transaction dated Monday, May 25th. The shares were sold at an average price of C$29.45, for a total transaction of C$149,458.75. Following the completion of the sale, the insider directly owned 89,044 shares of the company’s stock, valued at approximately C$2,622,345.80. This represents a 5.39% decrease in their ownership of the stock. Also, Director Curtis Eugene Frank sold 96,191 shares of the company’s stock in a transaction dated 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 sale, 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 ownership of the stock. In the last ninety days, insiders bought 12,500 shares of company stock valued at $350,102 and sold 142,699 shares valued at $4,176,580. Corporate insiders own 39.87% of the company’s stock.

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.