Premier Foods (LON:PFD) Price Target Raised to GBX 240 at Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank Aktiengesellschaft has raised its price target for Premier Foods from GBX 230 to GBX 240, indicating a potential upside of 27.52%.
• Berenberg Bank also reaffirmed a "buy" rating for Premier Foods with a price target of GBX 270, contributing to a consensus "Buy" rating and an average target price of GBX 255.
• Notably, insiders sold a total of 15,698 shares of the stock recently at an average price of GBX 209, amidst ongoing insider purchases totaling 25,588 shares valued at $5,347,892 over the last three months.

Premier Foods (LON:PFD - Get Free Report) had its target price increased by equities researchers at Deutsche Bank Aktiengesellschaft from GBX 230 to GBX 240 in a research note issued to investors on Thursday, MarketBeat reports. The firm currently has a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft's price objective suggests a potential upside of 26.72% from the company's previous close.

Separately, Berenberg Bank reaffirmed a "buy" rating and issued a GBX 270 target price on shares of Premier Foods in a research report on Thursday. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of GBX 255.

Premier Foods Stock Performance

Shares of Premier Foods stock traded up GBX 0.40 during midday trading on Thursday, hitting GBX 189.40. The company had a trading volume of 3,111,848 shares, compared to its average volume of 2,453,506. The stock has a market cap of £1.63 billion, a PE ratio of 14.51, a P/E/G ratio of 1.44 and a beta of 1.08. Premier Foods has a 1-year low of GBX 167 and a 1-year high of GBX 216.50. The business's 50 day simple moving average is GBX 193.66 and its two-hundred day simple moving average is GBX 193.37. The company has a debt-to-equity ratio of 25.47, a current ratio of 1.14 and a quick ratio of 0.41.

Insider Buying and Selling at Premier Foods

In related news, insider Duncan Leggett acquired 6,613 shares of the business's stock in a transaction on Friday, May 30th. The stock was bought at an average cost of GBX 209 per share, with a total value of £13,821.17. Also, insider Alex Whitehouse sold 9,595 shares of Premier Foods stock in a transaction on Friday, May 30th. The shares were sold at an average price of GBX 209, for a total value of £20,053.55. Over the last ninety days, insiders purchased 25,588 shares of company stock valued at $5,347,892. 25.24% of the stock is owned by company insiders.

Premier Foods Company Profile

Premier Foods plc, together with its subsidiaries, manufactures and distributes branded and own label food products in the United Kingdom, other European countries, and internationally. The company operates through Grocery, Sweet Treats, and international segments. It offers a portfolio of product categories, including flavorings and seasonings under the Bisto, OXO, Paxo, and Saxa brands; cooking sauces and accompaniments under the Sharwood's, Loyd Grossman, Spice Tailor and Homepride brands; quick meals, snacks, and soups under the Batchelors and Smash brands; ambient desserts under the Ambrosia, Bird's, and Angel Delight brands; and ambient cakes under the Mr Kipling and Cadbury brands.