CIBC Trims MTY Food Group (TSE:MTY) Target Price to C$53.00

MTY Food Group (TSE:MTY) had its price objective decreased by analysts at CIBC from C$62.00 to C$53.00 in a report released on Monday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s price target indicates a potential upside of 12.81% from the company’s current price.

MTY has been the subject of several other reports. Scotiabank lowered their price objective on shares of MTY Food Group from C$62.00 to C$55.00 and set a “sector perform” rating for the company in a research note on Friday, February 16th. National Bankshares lowered their price objective on shares of MTY Food Group from C$59.00 to C$57.00 and set an “outperform” rating for the company in a research note on Monday. Raymond James decreased their target price on MTY Food Group from C$65.00 to C$60.00 and set a “market perform” rating for the company in a report on Friday, February 16th. Royal Bank of Canada cut their price target on shares of MTY Food Group from C$66.00 to C$48.00 and set a “sector perform” rating on the stock in a report on Friday, February 16th. Finally, TD Securities decreased their price objective on shares of MTY Food Group from C$59.00 to C$49.00 and set a “hold” rating for the company 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 stock. Based on data from MarketBeat.com, MTY Food Group currently has an average rating of “Hold” and a consensus price target of C$54.29.

MTY Food Group Stock Performance

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

MTY Food Group (TSE:MTY) last posted its quarterly earnings data 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). The firm had revenue of C$278.64 million during the quarter, compared to analyst estimates of C$263.20 million. MTY Food Group had a net margin of 8.86% and a return on equity of 13.23%. On average, equities analysts expect that MTY Food Group will post 4.0429722 EPS 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.