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

Maple Leaf Foods Inc. (TSE:MFI)’s stock price reached a new 52-week high during mid-day 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.

MFI has been the subject of several other research reports. CIBC lifted their price target on Maple Leaf Foods from C$30.00 to C$32.00 and gave the stock an “outperform” rating in a research note on Wednesday. TD Securities dropped their price objective on Maple Leaf Foods from C$35.00 to C$34.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. National Bankshares lifted their price objective on Maple Leaf Foods from C$26.00 to C$27.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Canaccord Genuity Group lifted their price objective on Maple Leaf Foods from C$30.00 to C$32.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$31.08.

Maple Leaf Foods Stock Down 0.4 %

The company has a debt-to-equity ratio of 130.19, a quick ratio of 0.54 and a current ratio of 1.26. The company has a market cap of C$3.22 billion, a PE ratio of 95.07, a PEG ratio of 18.07 and a beta of 0.47. The firm has a fifty day simple moving average of C$21.22 and a 200 day simple moving average of C$21.97.

Maple Leaf Foods Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend was Friday, December 6th. Maple Leaf Foods’s payout ratio is currently 324.76%.

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.