Raymond James Financial Issues Pessimistic Forecast for MTY Food Group (TSE:MTY) Stock Price

MTY Food Group (TSE:MTY) had its price objective reduced by investment analysts at Raymond James Financial from C$50.00 to C$44.00 in a note issued to investors on Wednesday,BayStreet.CA reports. Raymond James Financial’s target price indicates a potential upside of 26.98% from the company’s current price.

A number of other research analysts have also recently issued reports on the stock. National Bankshares dropped their target price on shares of MTY Food Group from C$51.00 to C$43.00 and set an “outperform” rating for the company in a report on Tuesday, October 14th. Scotiabank raised their price target on MTY Food Group from C$39.00 to C$41.00 in a research report on Tuesday. Royal Bank Of Canada decreased their price objective on shares of MTY Food Group from C$48.00 to C$45.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 14th. Finally, TD Securities cut their target price on shares of MTY Food Group from C$42.00 to C$37.00 and set a “hold” rating for the company in a research report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$43.33.

MTY Food Group Stock Performance

MTY traded down C$0.73 during trading on Wednesday, hitting C$34.65. 83,108 shares of the stock were exchanged, compared to its average volume of 69,431. The stock has a fifty day moving average price of C$36.16 and a two-hundred day moving average price of C$39.26. MTY Food Group has a 1-year low of C$32.92 and a 1-year high of C$53.16. The firm has a market capitalization of C$791.44 million, a P/E ratio of 23.41, a PEG ratio of 0.75 and a beta of 1.27. The company has a quick ratio of 0.57, a current ratio of 0.61 and a debt-to-equity ratio of 142.67.

MTY Food Group (TSE:MTY) last released its earnings results on Friday, October 10th. The company reported C$1.22 earnings per share (EPS) for the quarter. MTY Food Group had a return on equity of 11.66% and a net margin of 8.30%.The company had revenue of C$296.99 million for the quarter. As a group, sell-side analysts predict that MTY Food Group will post 4.4909091 earnings per share for the current year.

About MTY Food Group

MTY Food Group Inc is a franchisor in the quick service and casual dining food industry. Its activities consist of franchising and operating corporate-owned locations as well as the sale of retail products under a multitude of banners. The company’s operating segment is based on geographical regions namely Canada and US and International.