Premium Brands (TSE:PBH) had its price target dropped by research analysts at Royal Bank of Canada from C$103.00 to C$102.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 9.64% from the stock’s previous close.
Other research analysts have also recently issued reports about the company. Desjardins raised Premium Brands from a “hold” rating to a “buy” rating and upped their price objective for the stock from C$83.00 to C$103.00 in a research report on Wednesday, July 10th. National Bank Financial upped their price objective on Premium Brands from C$96.00 to C$101.00 in a research report on Tuesday, June 25th. CIBC upped their price objective on Premium Brands from C$84.00 to C$94.00 in a research report on Thursday, August 8th. Cormark upped their price objective on Premium Brands from C$91.00 to C$97.00 in a research report on Wednesday, May 22nd. Finally, TD Securities upped their price objective on Premium Brands from C$93.00 to C$96.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of C$99.67.
Shares of Premium Brands stock traded up C$2.11 during trading hours on Wednesday, hitting C$93.03. The company’s stock had a trading volume of 99,134 shares, compared to its average volume of 114,145. Premium Brands has a 12 month low of C$66.99 and a 12 month high of C$103.57. The stock has a 50 day simple moving average of C$93.66. The company has a market capitalization of $3.37 billion and a P/E ratio of 32.67. The company has a quick ratio of 0.73, a current ratio of 1.70 and a debt-to-equity ratio of 187.13.
Premium Brands (TSE:PBH) last posted its quarterly earnings data on Monday, May 13th. The company reported C$0.52 earnings per share for the quarter, topping the consensus estimate of C$0.47 by C$0.05. The firm had revenue of C$776.60 million for the quarter, compared to analyst estimates of C$801.50 million. As a group, research analysts anticipate that Premium Brands will post 4.6099998 earnings per share for the current fiscal year.
In related news, Senior Officer Douglas Owen Goss purchased 560 shares of Premium Brands stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average cost of C$85.54 per share, with a total value of C$47,902.40. Following the completion of the transaction, the insider now owns 33,541 shares of the company’s stock, valued at approximately 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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