Premium Brands (TSE:PBH) had its price target increased by stock analysts at Cormark from C$97.00 to C$106.00 in a note issued to investors on Wednesday, BayStreet.CA reports. Cormark’s target price suggests a potential upside of 13.94% from the stock’s previous close.
A number of other brokerages also recently issued reports on PBH. CIBC lifted their price target on shares of Premium Brands from C$84.00 to C$94.00 in a research note on Thursday, August 8th. National Bank Financial lifted their price target on shares of Premium Brands from C$96.00 to C$101.00 in a research note on Tuesday, June 25th. Royal Bank of Canada decreased their price target on shares of Premium Brands from C$103.00 to C$102.00 and set an “outperform” rating for the company in a research note on Wednesday. TD Securities raised their price objective on shares of Premium Brands from C$96.00 to C$110.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Desjardins raised shares of Premium Brands from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$83.00 to C$103.00 in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of C$99.67.
Shares of PBH traded up C$2.11 during trading on Wednesday, reaching C$93.03. 99,134 shares of the company traded hands, compared to its average volume of 114,145. Premium Brands has a twelve month low of C$66.99 and a twelve month high of C$103.57. The firm has a market cap of $3.37 billion and a PE ratio of 32.67. The business’s 50-day moving average is C$93.66. The company has a debt-to-equity ratio of 187.13, a quick ratio of 0.73 and a current ratio of 1.70.
Premium Brands (TSE:PBH) last announced its quarterly earnings results on Monday, May 13th. The company reported C$0.52 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.47 by C$0.05. The company had revenue of C$776.60 million for the quarter, compared to analyst estimates of C$801.50 million. Sell-side analysts predict that Premium Brands will post 4.6099998 EPS for the current fiscal year.
In other Premium Brands news, Senior Officer Douglas Owen Goss bought 560 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average price of C$85.54 per share, with a total value of C$47,902.40. Following the transaction, the insider now owns 33,541 shares in the company, valued at C$2,869,097.14.
About Premium Brands
Premium Brands Holdings Corporation, through its subsidiaries, manufactures and distributes food products primarily in Canada and the United States. It operates in two segments, Specialty Foods and Premium Food Distribution. The company provides meat products and snacks, deli products, beef jerky and halal, sandwiches, pastries, specialty and gourmet products, salads and kettle products, entres, panini, wraps, subs, hamburgers, burgers, muffins, breads, and baking and sushi products.
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