Premium Brands (TSE:PBH) Price Target Raised to C$99.00

Key Points

• National Bankshares raised the target price for Premium Brands (TSE:PBH) from C$97.00 to C$99.00, suggesting an upside of 11.05% from its current price.
• Analyst ratings vary, with three holding, five buying, and two giving a strong buy rating, leading to a consensus rating of "Moderate Buy" and a price target of C$104.10.
• Insider William Dion Kalutycz sold 8,000 shares of Premium Brands at an average price of C$81.57, totaling over C$652,575.

Premium Brands (TSE:PBH - Get Free Report) had its price objective increased by analysts at National Bankshares from C$97.00 to C$99.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. National Bankshares' price objective suggests a potential upside of 13.65% from the company's previous close.

Several other research firms have also recently issued reports on PBH. Canaccord Genuity Group upgraded shares of Premium Brands to a "strong-buy" rating in a research note on Tuesday, May 27th. Scotiabank upped their target price on shares of Premium Brands from C$88.00 to C$91.00 and gave the company a "sector perform" rating in a research note on Thursday, May 8th. Desjardins upped their target price on shares of Premium Brands from C$93.00 to C$98.00 in a research note on Friday, May 9th. CIBC lowered their target price on shares of Premium Brands from C$98.00 to C$95.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Finally, Cibc World Mkts upgraded shares of Premium Brands from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of C$104.10.

Premium Brands Stock Performance

PBH traded down C$0.73 during midday trading on Wednesday, hitting C$87.11. 59,723 shares of the company traded hands, compared to its average volume of 96,335. The company has a quick ratio of 1.16, a current ratio of 1.51 and a debt-to-equity ratio of 163.00. The firm has a market capitalization of C$3.88 billion, a PE ratio of 38.78, a price-to-earnings-growth ratio of 1.10 and a beta of 0.98. The company's 50-day moving average is C$83.16 and its 200 day moving average is C$79.86. Premium Brands has a 52 week low of C$72.57 and a 52 week high of C$97.10.

Insider Transactions at Premium Brands

In related news, Senior Officer William Dion Kalutycz sold 8,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of C$81.57, for a total value of C$652,575.20. Corporate insiders own 2.01% of the company's stock.

Premium Brands Company Profile

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.