Premium Brands (TSE:PBH) was downgraded by equities researchers at Desjardins from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
A number of other analysts have also issued reports on PBH. Canaccord Genuity upgraded shares of Premium Brands from a “hold” rating to a “buy” rating and set a C$110.00 price objective on the stock in a research note on Tuesday, November 6th. Royal Bank of Canada dropped their price objective on shares of Premium Brands from C$133.00 to C$126.00 and set an “outperform” rating on the stock in a research note on Monday, November 12th. National Bank Financial dropped their price objective on shares of Premium Brands from C$130.00 to C$95.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 14th. TD Securities lowered shares of Premium Brands from an “action list buy” rating to a “buy” rating and dropped their price objective for the company from C$145.00 to C$95.00 in a research note on Wednesday, November 14th. Finally, BMO Capital Markets dropped their price objective on shares of Premium Brands from C$137.00 to C$92.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 14th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of C$100.50.
TSE PBH traded down C$0.39 during mid-day trading on Tuesday, hitting C$77.61. The company’s stock had a trading volume of 68,679 shares, compared to its average volume of 129,370. Premium Brands has a 52-week low of C$66.99 and a 52-week high of C$122.77. The company has a debt-to-equity ratio of 136.58, a quick ratio of 0.95 and a current ratio of 1.92. The firm has a market capitalization of $2.63 billion and a price-to-earnings ratio of 25.24.
Premium Brands (TSE:PBH) last posted its quarterly earnings data on Tuesday, November 13th. The company reported C$0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.14 by C($0.20). The firm had revenue of C$835.50 million for the quarter, compared to the consensus estimate of C$835.17 million. Sell-side analysts forecast that Premium Brands will post 4.46999991485714 EPS for the current fiscal year.
In related news, insider Douglas Owen Goss purchased 1,000 shares of the firm’s stock in a transaction dated Friday, November 16th. The stock was acquired at an average price of C$69.23 per share, with a total value of C$69,230.00.
About Premium Brands
Premium Brands Holdings Corporation, through its subsidiaries, manufactures and distributes food products primarily in Canada and the United States. It operates through two segments, Specialty Foods and Premium Food Distribution. The company provides premium and natural processed meat products, specialty deli products, meat snacks, beef jerky and halal, sandwiches, pastries, specialty and gourmet products, salads and kettle, entres, panini, wraps, subs, hamburgers, burgers, muffins, breads, specialty pastas, and sushi products.
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