Royal Bank Of Canada Has Lowered Expectations for Maple Leaf Foods (TSE:MFI) Stock Price

Maple Leaf Foods (TSE:MFI) had its target price reduced by stock analysts at Royal Bank Of Canada from C$34.00 to C$33.00 in a research report issued on Thursday, BayStreet reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price target would indicate a potential upside of 22.09% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus set a C$36.00 price objective on shares of Maple Leaf Foods and gave the stock a “buy” rating in a report on Thursday, July 9th. Ventum Financial reduced their target price on shares of Maple Leaf Foods from C$39.00 to C$37.00 and set a “buy” rating for the company in a report on Thursday, August 13th. Desjardins reduced their target price on shares of Maple Leaf Foods from C$36.00 to C$33.00 and set a “buy” rating for the company in a report on Thursday. Scotiabank cut shares of Maple Leaf Foods from a “sector outperform” rating to a “sector perform” rating and lifted their price target for the stock from C$30.00 to C$33.00 in a research note on Thursday. Finally, Ventum Capital dropped their price target on shares of Maple Leaf Foods from C$37.00 to C$35.00 and set a “buy” rating on the stock in a research note on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$34.92.

Maple Leaf Foods Stock Performance

Maple Leaf Foods stock traded down C$0.25 during mid-day trading on Thursday, reaching C$27.03. 250,984 shares of the stock traded hands, compared to its average volume of 275,544. Maple Leaf Foods has a 12-month low of C$23.35 and a 12-month high of C$31.87. The business’s 50-day moving average is C$26.02 and its 200-day moving average is C$28.07. The company has a debt-to-equity ratio of 97.47, a current ratio of 1.56 and a quick ratio of 0.54. The stock has a market capitalization of C$3.37 billion, a PE ratio of 6.64, a price-to-earnings-growth ratio of 18.07 and a beta of 0.26.

Maple Leaf Foods (TSE:MFI) last announced its earnings results on Wednesday, November 4th. The company reported C$0.36 earnings per share (EPS) for the quarter. Maple Leaf Foods had a return on equity of 36.83% and a net margin of 13.08%. The business had revenue of C$1.03 billion for the quarter. As a group, sell-side analysts predict that Maple Leaf Foods will post 1.43 EPS for the current fiscal year.

Insider Buying and Selling at Maple Leaf Foods

In related news, Director Andrew Gordon Macdonald acquired 10,000 shares of the stock in a transaction dated Friday, September 4th. The shares were purchased at an average cost of C$26.78 per share, with a total value of C$267,800.00. Following the transaction, the director directly owned 72,200 shares in the company, valued at approximately C$1,933,516. This represents a 16.08% increase in their ownership of the stock. 39.87% of the stock is currently owned by insiders.

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.