Premium Brands (TSE:PBH) had its price objective lifted by equities researchers at TD Securities from C$96.00 to C$110.00 in a note issued to investors on Wednesday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ price objective would indicate a potential upside of 18.24% from the stock’s current price.
A number of other equities analysts have also weighed in on the company. Cormark increased their price target on Premium Brands from C$91.00 to C$97.00 in a research report on Wednesday, May 22nd. CIBC increased their price target on Premium Brands from C$84.00 to C$94.00 in a research report on Thursday, August 8th. National Bank Financial increased their price target on Premium Brands from C$96.00 to C$101.00 in a research report on Tuesday, June 25th. Desjardins upgraded 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 research report on Wednesday, July 10th. Finally, Royal Bank of Canada decreased their price objective on Premium Brands from C$103.00 to C$102.00 and set an “outperform” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of C$99.67.
Shares of TSE:PBH traded up C$2.11 during midday trading on Wednesday, reaching C$93.03. The company had a trading volume of 99,134 shares, compared to its average volume of 114,145. 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 has a 1-year low of C$66.99 and a 1-year high of C$103.57. The company has a market capitalization of $3.37 billion and a price-to-earnings ratio of 32.67. The company has a fifty day simple moving average of C$93.66.
Premium Brands (TSE:PBH) last released its quarterly earnings results on Monday, May 13th. The company reported C$0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$0.47 by C$0.05. The company had revenue of C$776.60 million during the quarter, compared to analyst estimates of C$801.50 million. As a group, sell-side analysts forecast that Premium Brands will post 4.6099998 earnings per share for the current fiscal year.
In other Premium Brands news, Senior Officer Douglas Owen Goss acquired 560 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was purchased at an average cost of C$85.54 per share, for a total transaction of C$47,902.40. Following 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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