Maple Leaf Foods Inc (TSE:MFI)’s share price shot up 7.4% during mid-day trading on Tuesday . The company traded as high as C$29.14 and last traded at C$29.11. 218,138 shares traded hands during trading, an increase of 68% from the average session volume of 130,136 shares. The stock had previously closed at C$27.11.
A number of brokerages have issued reports on MFI. TD Securities upgraded shares of Maple Leaf Foods from a “buy” rating to an “action list buy” rating and set a C$39.00 target price for the company in a research report on Tuesday. CIBC cut their target price on shares of Maple Leaf Foods from C$37.00 to C$36.00 in a research report on Wednesday, November 28th. Finally, Canaccord Genuity lifted their target price on shares of Maple Leaf Foods from C$36.00 to C$38.00 in a research report on Tuesday, November 27th.
The company has a debt-to-equity ratio of 21.29, a quick ratio of 0.51 and a current ratio of 1.51. The stock has a market cap of $3.35 billion and a price-to-earnings ratio of 37.13.
In related news, insider John A. Lederer bought 25,000 shares of the stock in a transaction that occurred on Thursday, December 20th. The stock was purchased at an average cost of C$26.92 per share, for a total transaction of C$673,000.00. Following the completion of the acquisition, the insider now owns 75,000 shares in the company, valued at C$2,019,000. Also, Senior Officer Rory A. Mcalpine sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of C$27.23, for a total transaction of C$108,920.00. Following the completion of the sale, the insider now owns 26,252 shares of the company’s stock, valued at C$714,841.96.
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Maple Leaf Foods Company Profile (TSE:MFI)
Maple Leaf Foods Inc operates as a consumer protein company. It produces various food products, including offers prepared meats, ready-to-cook and ready-to-serve meals, fresh pork, poultry, turkey, and plant protein products. The company offers its products under various brands, including Maple Leaf, Maple Leaf Prime, Maple Leaf Natural Selections, Schneiders, Schneiders Country Naturals, Mina, and Lightlife.
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