Prestige Brand Holdings, Inc. (PBH) Upgraded to “Buy” at Zacks Investment Research
Prestige Brand Holdings, Inc. (NYSE:PBH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $57.00 target price on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 12.94% from the stock’s current price.
According to Zacks, “Prestige Brands Holdings is a marketer and distributor of brand name over- the-counter drug, personal care and household cleaning products sold throughout the United States and Canada. Key brands include Compound W wart remover, Chloraseptic sore-throat relief products, New-Skin liquid bandage, Clear eyes and Murine eye and ear care products, Little Remedies pediatric over-the-counter healthcare products, Cutex nail polish remover, Comet and Spic & Span household cleaner and several other well-recognized brands. “
Several other equities analysts have also recently weighed in on PBH. Jefferies Group LLC reiterated a “hold” rating and set a $55.00 price objective (up from $54.00) on shares of Prestige Brand Holdings in a research report on Monday. BidaskClub raised shares of Prestige Brand Holdings from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Finally, KeyCorp restated a “buy” rating and issued a $61.00 target price on shares of Prestige Brand Holdings in a report on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $64.14.
Shares of Prestige Brand Holdings (NYSE:PBH) opened at 50.47 on Wednesday. Prestige Brand Holdings has a 12 month low of $44.64 and a 12 month high of $59.63. The company’s 50-day moving average is $50.35 and its 200-day moving average is $52.59. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 24.92 and a beta of 1.19.
Prestige Brand Holdings (NYSE:PBH) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.03. The business had revenue of $256.57 million for the quarter, compared to analyst estimates of $255.64 million. Prestige Brand Holdings had a net margin of 11.70% and a return on equity of 16.06%. The firm’s revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 earnings per share. On average, equities research analysts forecast that Prestige Brand Holdings will post $2.64 earnings per share for the current fiscal year.
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In other Prestige Brand Holdings news, SVP Jean A. Boyko sold 12,876 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $52.12, for a total value of $671,097.12. Following the completion of the sale, the senior vice president now owns 26,566 shares in the company, valued at approximately $1,384,619.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.98% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Eagle Boston Investment Management Inc. increased its position in Prestige Brand Holdings by 1.6% in the 2nd quarter. Eagle Boston Investment Management Inc. now owns 160,662 shares of the company’s stock worth $8,484,000 after purchasing an additional 2,504 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Prestige Brand Holdings by 3.2% during the 2nd quarter. Principal Financial Group Inc. now owns 787,926 shares of the company’s stock valued at $41,611,000 after buying an additional 24,343 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Prestige Brand Holdings by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 642,408 shares of the company’s stock valued at $33,924,000 after buying an additional 4,110 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Prestige Brand Holdings by 3.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 13,800 shares of the company’s stock valued at $729,000 after buying an additional 400 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its holdings in shares of Prestige Brand Holdings by 2.8% during the 2nd quarter. Eagle Asset Management Inc. now owns 1,378,846 shares of the company’s stock valued at $72,816,000 after buying an additional 37,849 shares during the last quarter. Hedge funds and other institutional investors own 98.56% of the company’s stock.
Prestige Brand Holdings Company Profile
Prestige Brands Holdings, Inc is engaged in the marketing, sales and distribution of over-the-counter healthcare and household cleaning products. The Company operates through three segments: North American Over-the-Counter (OTC) Healthcare; International Over-the-Counter Healthcare, and Household Cleaning.
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