Maple Leaf Foods (TSE:MFI) Stock Price Up 9.6% - Time to Buy?

On Tuesday, shares of Maple Leaf Foods Inc. (TSE:MFI) experienced a notable increase, rising by 9.6% during mid-day trading. The stock reached a high of C$24.73 before closing at C$24.35. In total, around 291,774 shares were exchanged, marking a 56% increase from the usual daily volume of 186,559 shares. Previously, the stock had closed at C$22.22.

Wall Street Analysts Forecast Growth

Several analysts have recently shared their insights regarding MFI. Canaccord Genuity Group raised their price target for Maple Leaf Foods from C$30.00 to C$32.00 and issued a "buy" rating in their report dated January 13th. Royal Bank of Canada also increased their target price from C$29.00 to C$30.00, rating the stock as "outperform" in their report on Wednesday. Furthermore, National Bankshares boosted their target price from C$26.00 to C$27.00, giving the company an "outperform" rating in a recent research note. On November 14th, TD Securities adjusted their price objective from C$35.00 to C$34.00 while maintaining a "buy" rating. Additionally, CIBC raised their target price from C$30.00 to C$32.00 and rated the stock as "outperform". Overall, six analysts have recommended the stock as a buy. According to data from MarketBeat.com, the consensus rating stands at "Buy" with an average target price of C$31.08.

Maple Leaf Foods Stock Performance

The market capitalization of Maple Leaf Foods is C$3.22 billion. The stock has a price-to-earnings ratio of 95.07 and a price-to-earnings-growth ratio of 18.07, with a beta of 0.47. Over the past 50 days, the simple moving average has been C$21.22, and the 200-day simple moving average is C$21.97. Other indicators show a quick ratio of 0.54, a current ratio of 1.26, and a debt-to-equity ratio of 130.19.

Maple Leaf Foods Dividend Announcement

Recently, the company declared a quarterly dividend which was paid on December 31st. Shareholders recorded on that date received a dividend of $0.22, translating to an annualized dividend of $0.88 and a yield of 3.42%. The ex-dividend date was December 6th, and it's worth noting that Maple Leaf Foods' payout ratio currently stands at 324.76%.

About Maple Leaf Foods

Maple Leaf Foods Inc. is involved in the consumer-packaged meats sector, specializing in prepared meats and meals, fresh pork, poultry, and turkey products. The company also conducts agribusiness operations, providing livestock to its meat products divisions. Its primary markets include Canada, the United States, Japan, and China.

Should You Invest $1,000 in Maple Leaf Foods Right Now?

Before making any investment decisions regarding Maple Leaf Foods, it is important to consider broader market trends. While analysts currently give the stock a Buy rating, there are five other stocks that top-rated analysts suggest might be better opportunities at this time.

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