Premium Brands (TSE:PBH) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Premium Brands Holdings Co. (TSE:PBH) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$91.34 and traded as low as C$88.98. Premium Brands shares last traded at C$91.03, with a volume of 164,462 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PBH shares. Canadian Imperial Bank of Commerce lifted their price target on Premium Brands from C$110.00 to C$115.00 in a research note on Friday, May 8th. Stifel Nicolaus set a C$117.00 price objective on Premium Brands and gave the company a “buy” rating in a research note on Monday, July 20th. Ventum Capital raised their target price on shares of Premium Brands from C$124.00 to C$128.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Scotia raised their target price on shares of Premium Brands from C$100.00 to C$110.00 and gave the stock a “sector outperform” rating in a report on Friday, May 8th. Finally, Ventum Financial set a C$124.00 target price on shares of Premium Brands and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$118.62.

Premium Brands Trading Up 2.5%

The company has a quick ratio of 1.16, a current ratio of 1.28 and a debt-to-equity ratio of 163.05. The stock’s fifty day moving average price is C$88.17 and its two-hundred day moving average price is C$91.34. The company has a market capitalization of C$4.73 billion, a PE ratio of 101.14, a price-to-earnings-growth ratio of 1.10 and a beta of 0.90.

Premium Brands (TSE:PBH) last announced its quarterly earnings results on Thursday, May 7th. The company reported C$0.83 earnings per share (EPS) for the quarter. Premium Brands had a return on equity of 2.21% and a net margin of 0.52%.The company had revenue of C$2.05 billion for the quarter. Sell-side analysts anticipate that Premium Brands Holdings Co. will post 6.039823 earnings per share for the current year.

About Premium Brands

Premium Brands Holdings Corp is engaged in specialty food manufacturing, premium food distribution, and wholesale businesses with operations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nevada, and Washington State. The company’s business segments include Specialty Foods, Premium Food Distribution, and Corporate. The Specialty Foods segment consists of its specialty food manufacturing businesses, which contributes about two-thirds of the group revenue; the Premium Food Distribution segment consists of the company’s distribution and wholesale businesses; the Corporate segment includes the company’s head office activities along with its finance and information systems.