Scotiabank Forecasts Strong Price Appreciation for Maple Leaf Foods (TSE:MFI) Stock

Maple Leaf Foods (TSE:MFI) had its price objective boosted by analysts at Scotiabank from C$27.00 to C$30.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 4.28% from the stock’s current price.

A number of other analysts have also issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Maple Leaf Foods from C$32.00 to C$35.00 and gave the company a “buy” rating in a research note on Friday. Canadian Imperial Bank of Commerce decreased their price objective on shares of Maple Leaf Foods from C$36.00 to C$35.00 in a research report on Thursday, November 6th. TD Securities dropped their target price on Maple Leaf Foods from C$43.00 to C$42.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. National Bank Financial boosted their price target on Maple Leaf Foods from C$33.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, BMO Capital Markets lowered their price objective on Maple Leaf Foods from C$35.00 to C$33.00 in a research note on Thursday, November 6th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$34.57.

Maple Leaf Foods Trading Up 1.6%

Shares of Maple Leaf Foods stock traded up C$0.46 during trading hours on Friday, hitting C$28.77. The company’s stock had a trading volume of 201,491 shares, compared to its average volume of 295,262. The business has a fifty day moving average of C$26.29 and a 200 day moving average of C$28.39. Maple Leaf Foods has a 1-year low of C$22.57 and a 1-year high of C$36.35. The company has a quick ratio of 0.54, a current ratio of 1.47 and a debt-to-equity ratio of 100.37. The company has a market capitalization of C$3.59 billion, a PE ratio of 17.76, a P/E/G ratio of 18.07 and a beta of 0.75.

Maple Leaf Foods (TSE:MFI) last announced its quarterly earnings results on Thursday, March 5th. The company reported C$0.32 earnings per share for the quarter. Maple Leaf Foods had a net margin of 4.22% and a return on equity of 12.88%. The firm had revenue of C$991.24 million during the quarter. As a group, equities analysts forecast that Maple Leaf Foods will post 1.4334187 EPS for the current year.

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.