National Bank Financial Has Lowered Expectations for Premium Brands (TSE:PBH) Stock Price

Key Points

• National Bank Financial cut Premium Brands’ price target from C$108 to C$98 while maintaining a “sector perform” rating, implying roughly 16.75% upside from the reported C$83.94 share price.
• Several other brokerages also lowered their targets, although analyst sentiment remains positive: 12 analysts rate the stock “Buy” and one rates it “Hold,” producing a consensus “Moderate Buy” rating and C$116.25 average price target.
• Premium Brands shares traded near the lower end of their 52-week range, while the company reported C$1.53 in quarterly EPS and C$2.38 billion in revenue; its low net margin and high debt-to-equity ratio remain notable financial considerations.

Premium Brands (TSE:PBH - Get Free Report) had its target price dropped by equities research analysts at National Bank Financial from C$108.00 to C$98.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. National Bank Financial's price objective indicates a potential upside of 16.75% from the company's current price.

Several other brokerages have also recently issued reports on PBH. TD lowered their target price 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. Canaccord Genuity Group dropped their price objective on shares of Premium Brands from C$123.00 to C$117.00 in a research note on Friday. Royal Bank Of Canada dropped their price target on Premium Brands from C$131.00 to C$120.00 and set an "outperform" rating for the company in a research report on Friday. Canadian Imperial Bank of Commerce dropped their target price on Premium Brands from C$115.00 to C$100.00 in a report on Friday. Finally, BMO Capital Markets cut their target price on Premium Brands from C$118.00 to C$111.00 in a research note on Friday. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$116.25.

Premium Brands Price Performance

PBH stock traded up C$2.65 during trading on Friday, hitting C$83.94. The stock had a trading volume of 285,706 shares, compared to its average volume of 169,553. Premium Brands has a twelve month low of C$80.24 and a twelve month high of C$106.79. The company's 50-day moving average price is C$88.40 and its two-hundred day moving average price is C$90.89. The company has a debt-to-equity ratio of 163.05, a current ratio of 1.28 and a quick ratio of 1.16. The stock has a market capitalization of C$4.36 billion, a P/E ratio of 93.27, a PEG ratio of 1.10 and a beta of 0.90.

Premium Brands (TSE:PBH - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported C$1.53 earnings per share for the quarter. The business had revenue of C$2.38 billion for the quarter. Premium Brands had a return on equity of 2.21% and a net margin of 0.52%. As a group, research analysts predict 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.

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