Maple Leaf Foods (TSE:MFI) Stock Price Up 9.6% – Still a Buy?

Maple Leaf Foods Inc. (TSE:MFI) shares rose 9.6% on Tuesday . The stock traded as high as C$24.73 and last traded at C$24.35. Approximately 291,774 shares changed hands during mid-day trading, an increase of 56% from the average daily volume of 186,559 shares. The stock had previously closed at C$22.22.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. 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. Canaccord Genuity Group increased their price target on Maple Leaf Foods from C$30.00 to C$32.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, 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 report on Thursday, November 14th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$30.70.

Maple Leaf Foods Price Performance

The firm has a market capitalization of C$3.07 billion, a P/E ratio of 90.49, a P/E/G ratio of 18.07 and a beta of 0.47. The stock’s 50 day simple moving average is C$21.06 and its 200 day simple moving average is C$21.95. The company has a debt-to-equity ratio of 130.19, a quick ratio of 0.54 and a current ratio of 1.26.

Maple Leaf Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.22 per share. The ex-dividend date was Friday, December 6th. This represents a $0.88 annualized dividend and a yield of 3.59%. Maple Leaf Foods’s payout ratio is currently 324.76%.

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.