Acumen Capital Cuts MTY Food Group (TSE:MTY) Price Target to C$65.00

MTY Food Group (TSE:MTY) had its price objective cut by Acumen Capital from C$75.00 to C$65.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Acumen Capital’s target price points to a potential upside of 38.36% from the company’s current price.

Other analysts also recently issued reports about the stock. CIBC dropped their target price on shares of MTY Food Group from C$62.00 to C$53.00 and set an “outperform” rating on the stock in a report on Monday. TD Securities dropped their price target on shares of MTY Food Group from C$59.00 to C$49.00 and set a “hold” rating on the stock in a research note on Monday. Raymond James dropped their price target on shares of MTY Food Group from C$65.00 to C$60.00 and set a “market perform” rating on the stock in a research note on Friday, February 16th. National Bankshares dropped their price target on shares of MTY Food Group from C$59.00 to C$57.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Scotiabank dropped their price target on shares of MTY Food Group from C$55.00 to C$50.00 and set a “sector perform” rating on the stock in a research note on Monday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, MTY Food Group has a consensus rating of “Hold” and an average price target of C$54.29.

MTY Food Group Stock Up 2.5 %

Shares of TSE MTY opened at C$46.98 on Monday. MTY Food Group has a 1 year low of C$44.48 and a 1 year high of C$68.60. The firm’s 50 day moving average price is C$51.68 and its 200 day moving average price is C$53.17. The firm has a market cap of C$1.14 billion, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 0.75 and a beta of 1.98. The company has a debt-to-equity ratio of 154.98, a quick ratio of 0.57 and a current ratio of 0.61.

MTY Food Group (TSE:MTY) last announced its quarterly earnings results on Friday, April 12th. The company reported C$0.71 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.83 by C($0.12). MTY Food Group had a net margin of 8.86% and a return on equity of 13.23%. The company had revenue of C$278.64 million during the quarter, compared to analyst estimates of C$263.20 million. As a group, sell-side analysts anticipate that MTY Food Group will post 4.0429722 earnings per share for the current year.

About MTY Food Group

MTY Food Group Inc operates and franchises quick-service, fast-casual, and casual dining restaurants in Canada, the United States, and internationally. It also sells retail products under a multitude of banners. The company was formerly known as iNsu Innovations Group Inc and changed its name to MTY Food Group Inc in July 2003.