The stock of MTY Food Group Inc (TSE:MTY) hit a new 52-week high and has $53.48 target or 7.00% above today’s $49.98 share price. The 7 months bullish chart indicates low risk for the $1.07B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $53.48 price target is reached, the company will be worth $74.90 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 493 shares traded hands. MTY Food Group Inc (TSE:MTY) has risen 44.99% since April 19, 2016 and is uptrending. It has outperformed by 39.66% the S&P500.
More notable recent MTY Food Group Inc (TSE:MTY) news were published by: Prnewswire.com which released: “Kahala Brands, Ltd. And MTY Food Group Inc. Announce Signing A Transaction …” on May 25, 2016, also Seekingalpha.com with their article: “MTY Food Group Inc. – Another Restaurant Stock For Your Portfolio” published on September 22, 2015, Ocbj.com published: “Baja Fresh, La Salsa Sold” on September 09, 2016. More interesting news about MTY Food Group Inc (TSE:MTY) were released by: Business.Financialpost.com and their article: “Food court mogul Stanley Ma bets big on US with $45M deal to buy Extreme …” published on May 28, 2013 as well as Seekingalpha.com‘s news article titled: “MTY Food Group: Worrying Signs” with publication date: February 22, 2016.
MTY Food Group Inc is a Canada-based company, which franchises and operates quick-service restaurants. The company has a market cap of $1.07 billion. The Firm operates in four divisions: Franchising, which includes revenue from royalties, supplier contributions, franchise fees, rent, and the construction and renovation of restaurants; Corporate, which includes the direct sale of prepared food to customers; Distribution, which includes distribution of raw materials to restaurants of its Valentine and Franx banners, and processing, which includes the sale of ingredients and prepared food to restaurant chains, distributors and retailers. It has a 27.19 P/E ratio.
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