Desjardins Boosts Premium Brands (TSE:PBH) Price Target to C$103.00

Key Points

• Desjardins has increased its price target for Premium Brands (TSE:PBH) from C$98.00 to C$103.00, indicating a potential upside of 13.57% from the previous close.
• Multiple brokerages have also raised their price targets for the stock, with Canaccord Genuity elevating it to C$118.00 and TD Securities raising it to C$140.00, both maintaining a buy rating.
• Premium Brands shares recently traded down 1.3% to C$90.69, amid a market cap of C$4.04 billion and various financial metrics reflecting a stable company position.

Premium Brands (TSE:PBH - Get Free Report) had its price objective lifted by equities research analysts at Desjardins from C$98.00 to C$103.00 in a report released on Thursday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Desjardins' price target points to a potential upside of 13.57% from the stock's previous close.

Several other brokerages have also recently issued reports on PBH. Canaccord Genuity Group raised their price objective on Premium Brands from C$100.00 to C$118.00 in a research note on Thursday. TD Securities lifted their price target on Premium Brands from C$120.00 to C$140.00 and gave the company a "buy" rating in a report on Friday, July 18th. National Bankshares increased their target price on Premium Brands from C$99.00 to C$101.00 and gave the stock a "sector perform" rating in a research note on Thursday. CIBC raised their price target on Premium Brands from C$98.00 to C$108.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Royal Bank Of Canada raised Premium Brands from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from C$100.00 to C$108.00 in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of C$111.18.

Premium Brands Trading Down 1.3%

TSE:PBH traded down C$1.17 on Thursday, reaching C$90.69. The stock had a trading volume of 85,998 shares, compared to its average volume of 97,757. The company has a market cap of C$4.04 billion, a price-to-earnings ratio of 40.37, a P/E/G ratio of 1.10 and a beta of 0.98. The company has a debt-to-equity ratio of 163.00, a current ratio of 1.51 and a quick ratio of 1.16. The firm's fifty day moving average is C$83.59 and its two-hundred day moving average is C$80.06. Premium Brands has a 12-month low of C$72.57 and a 12-month high of C$97.10.

Insider Activity at Premium Brands

In related news, Senior Officer William Dion Kalutycz sold 8,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of C$81.57, for a total value of C$652,575.20. 2.01% of the stock is owned by insiders.

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 processed meat, deli products, meat snacks, beef jerky and halal, sandwiches, pastries, specialty and gourmet products, entrees, panini, wraps, subs, hamburgers, burgers, salads and kettle products, muffins, breads, pastas, pizza, and baking and sushi products.

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