Maple Leaf Foods (TSE:MFI) Sets New 52-Week High After Analyst Upgrade

Maple Leaf Foods Inc. (TSE:MFI) shares hit a new 52-week high during trading on Wednesday after Royal Bank of Canada raised their price target on the stock from C$29.00 to C$30.00. Royal Bank of Canada currently has an outperform rating on the stock. Maple Leaf Foods traded as high as C$25.82 and last traded at C$25.55, with a volume of 571071 shares traded. The stock had previously closed at C$24.57.

Several other research analysts have also recently commented on the stock. Canaccord Genuity Group raised their target price on shares of Maple Leaf Foods from C$30.00 to C$32.00 and gave the stock a “buy” rating in a report on Monday, January 13th. National Bankshares raised their target price on shares of Maple Leaf Foods from C$26.00 to C$27.00 and gave the stock an “outperform” rating in a report on Wednesday. CIBC raised their target price on shares of Maple Leaf Foods from C$30.00 to C$32.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, TD Securities decreased their target price on shares of Maple Leaf Foods from C$35.00 to C$34.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$31.08.

Maple Leaf Foods Stock Performance

The company has a debt-to-equity ratio of 130.19, a current ratio of 1.26 and a quick ratio of 0.54. The firm has a market capitalization of C$3.24 billion, a price-to-earnings ratio of 95.43, a PEG ratio of 18.07 and a beta of 0.47. The firm’s fifty day moving average is C$21.12 and its 200 day moving average is C$21.97.

Maple Leaf Foods Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Friday, December 6th. Maple Leaf Foods’s dividend payout ratio is currently 324.76%.

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.