Canaccord Genuity Group Forecasts Strong Price Appreciation for Maple Leaf Foods (TSE:MFI) Stock

Maple Leaf Foods (TSE:MFI - Get Free Report) had its price target raised by equities researchers at Canaccord Genuity Group from C$30.00 to C$32.00 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's target price would suggest a potential upside of 47.94% from the company's previous close.

Several other analysts also recently issued reports on the company. TD Securities decreased their target price on Maple Leaf Foods from C$35.00 to C$34.00 and set a "buy" rating on the stock in a research note on Thursday, November 14th. National Bankshares reduced their price objective on shares of Maple Leaf Foods from C$28.00 to C$26.00 in a research report on Thursday, November 14th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of C$30.19.

Maple Leaf Foods Price Performance

MFI stock traded down C$0.18 during trading on Monday, reaching C$21.63. The company's stock had a trading volume of 243,012 shares, compared to its average volume of 216,596. The company has a quick ratio of 0.54, a current ratio of 1.32 and a debt-to-equity ratio of 132.03. The company's fifty day moving average is C$21.73 and its 200-day moving average is C$22.50. The company has a market capitalization of C$2.66 billion, a P/E ratio of 240.33, a price-to-earnings-growth ratio of 18.07 and a beta of 0.47. Maple Leaf Foods has a 1 year low of C$19.61 and a 1 year high of C$27.55.

Insider Activity

In other news, Director Linda Mantia purchased 4,498 shares of the business's stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average cost of C$22.23 per share, for a total transaction of C$99,990.54. Corporate insiders own 39.87% of the company's stock.

About Maple Leaf Foods

Maple Leaf Foods Inc produces food products in the United States, Canada, Japan, China, and internationally. The company operates through Meat Protein Group and Plant Protein Group segments. It produces various food products, including prepared meats, ready-to-cook and ready-to-serve meals, fresh pork and poultry, and plant protein products; bacon, hams, wieners, and meat snacks; a variety of delicatessen products; and processed chicken products, such as fully cooked chicken breasts and wings, processed turkey products, specialty sausages, cooked meats, sliced meats, cooked sausage products, lunch kits, and canned meats.