Scotiabank Upgrades Maple Leaf Foods (TSE:MFI) to Strong-Buy

Maple Leaf Foods (TSE:MFI) was upgraded by analysts at Scotiabank from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other equities research analysts have also issued reports on MFI. National Bank Financial increased their target price on shares of Maple Leaf Foods from C$33.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Royal Bank Of Canada set a C$33.00 price target on Maple Leaf Foods and gave the stock an “outperform” rating in a report on Thursday, November 27th. Finally, Stifel Nicolaus raised their price objective on Maple Leaf Foods from C$32.00 to C$35.00 and gave the company a “buy” rating in a report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. According to MarketBeat, Maple Leaf Foods has an average rating of “Buy” and an average price target of C$34.57.

Maple Leaf Foods Trading Up 3.2%

Maple Leaf Foods stock opened at C$28.80 on Wednesday. The firm has a market cap of C$3.59 billion, a PE ratio of 17.78, a P/E/G ratio of 18.07 and a beta of 0.75. Maple Leaf Foods has a 12 month low of C$22.57 and a 12 month high of C$36.35. The stock’s 50 day simple moving average is C$26.58 and its two-hundred day simple moving average is C$28.15. The company has a current ratio of 1.29, a quick ratio of 0.54 and a debt-to-equity ratio of 93.30.

Maple Leaf Foods (TSE:MFI) last posted its earnings results on Thursday, March 5th. The company reported C$0.32 earnings per share (EPS) for the quarter. The firm had revenue of C$991.24 million during the quarter. Maple Leaf Foods had a net margin of 13.84% and a return on equity of 35.43%. Analysts anticipate that Maple Leaf Foods will post 1.4334187 earnings per share for the current year.

Maple Leaf Foods Company Profile

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.