Desjardins Has Lowered Expectations for Premium Brands (TSE:PBH) Stock Price

Key Points

• Desjardins lowered Premium Brands’ price target from C$120 to C$110 while maintaining a “buy” rating, implying 31.05% upside from the previous close.
• Several other firms also reduced their targets, but analyst sentiment remains positive: 12 analysts rate the stock a Buy and one rates it Hold, producing a consensus “Moderate Buy” rating and C$116.25 target.
• Premium Brands shares rose 3.3% to C$83.94, despite trading below their 50-day and 200-day moving averages. The company reported C$1.53 in quarterly EPS and C$2.38 billion in revenue.

Premium Brands (TSE:PBH - Get Free Report) had its price objective lowered by equities researchers at Desjardins from C$120.00 to C$110.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Desjardins' target price would indicate a potential upside of 31.05% from the stock's previous close.

A number of other research firms also recently weighed in on PBH. BMO Capital Markets cut their price target on Premium Brands from C$118.00 to C$111.00 in a research note on Friday. Canaccord Genuity Group dropped their price objective on Premium Brands from C$123.00 to C$117.00 in a report on Friday. Stifel Nicolaus set a C$117.00 price objective on shares of Premium Brands and gave the company a "buy" rating in a research report on Monday, July 20th. Canadian Imperial Bank of Commerce reduced their target price on shares of Premium Brands from C$115.00 to C$100.00 in a research note on Friday. Finally, TD dropped their price target on shares of Premium Brands from C$140.00 to C$130.00 and set a "buy" rating on the stock in a research note on Friday. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$116.25.

Premium Brands Stock Up 3.3%

TSE:PBH traded up C$2.65 on Friday, hitting C$83.94. 285,706 shares of the company's stock traded hands, compared to its average volume of 169,553. The company has a current ratio of 1.28, a quick ratio of 1.16 and a debt-to-equity ratio of 163.05. The company has a market cap of C$4.36 billion, a PE ratio of 93.27, a price-to-earnings-growth ratio of 1.10 and a beta of 0.90. The firm has a 50-day moving average price of C$88.40 and a 200-day moving average price of C$90.89. Premium Brands has a 1 year low of C$80.24 and a 1 year high of C$106.79.

Premium Brands (TSE:PBH - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported C$1.53 earnings per share for the quarter. Premium Brands had a net margin of 0.52% and a return on equity of 2.21%. The firm had revenue of C$2.38 billion for the quarter. Equities analysts anticipate that Premium Brands will post 6.039823 EPS for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source