Scotiabank Lowers Maple Leaf Foods (TSE:MFI) Price Target to C$32.00

Maple Leaf Foods (TSE:MFI) had its price target dropped by research analysts at Scotiabank from C$35.00 to C$32.00 in a report issued on Wednesday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price target points to a potential upside of 13.76% from the stock’s previous close.

Several other equities analysts also recently commented on MFI. Stifel Nicolaus upped their target price on Maple Leaf Foods from C$36.50 to C$40.50 and gave the company a “buy” rating in a research report on Friday, August 8th. National Bankshares upped their target price on Maple Leaf Foods from C$36.00 to C$39.00 and gave the company an “outperform” rating in a research report on Friday, September 12th. Royal Bank Of Canada decreased their target price on Maple Leaf Foods from C$38.00 to C$34.00 and set an “outperform” rating on the stock in a research report on Wednesday. BMO Capital Markets set a C$35.00 target price on Maple Leaf Foods and gave the company an “outperform” rating in a research report on Friday, October 3rd. Finally, CIBC raised their price objective on Maple Leaf Foods from C$32.00 to C$38.00 in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$36.69.

Maple Leaf Foods Price Performance

Maple Leaf Foods stock opened at C$28.13 on Wednesday. Maple Leaf Foods has a 12 month low of C$19.61 and a 12 month high of C$36.35. The stock’s 50 day moving average is C$34.03 and its 200-day moving average is C$29.36. The company has a current ratio of 1.26, a quick ratio of 0.54 and a debt-to-equity ratio of 130.19. The company has a market capitalization of C$3.51 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 18.07 and a beta of 0.70.

Insiders Place Their Bets

In related news, insider Olajumoke Fagbemi acquired 2,651 shares of the stock in a transaction on Wednesday, August 27th. The shares were purchased at an average price of C$35.71 per share, for a total transaction of C$94,665.62. Following the purchase, the insider directly owned 2,679 shares in the company, valued at approximately C$95,665.48. The trade was a 9,467.86% increase in their ownership of the stock. Also, insider Andreas Liris sold 1,000 shares of the firm’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of C$34.77, for a total value of C$34,770.00. Following the completion of the sale, the insider directly owned 14,001 shares in the company, valued at approximately C$486,814.77. This represents a 6.67% decrease in their position. 39.87% of the stock is owned by company insiders.

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.