Berenberg Bank Reiterates "Buy" Rating for Premier Foods (LON:PFD)

Berenberg Bank restated their buy rating on shares of Premier Foods (LON:PFD - Free Report) in a research note released on Thursday morning, MarketBeat.com reports. The firm currently has a GBX 270 ($3.62) price objective on the stock.

Premier Foods Price Performance

Shares of LON:PFD traded up GBX 1.40 ($0.02) on Thursday, reaching GBX 190.20 ($2.55). 261,902 shares of the company were exchanged, compared to its average volume of 2,607,791. The company has a current ratio of 1.14, a quick ratio of 0.41 and a debt-to-equity ratio of 25.47. Premier Foods has a 1-year low of GBX 164 ($2.20) and a 1-year high of GBX 216.50 ($2.90). The firm has a market cap of £1.64 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 1.44 and a beta of 1.08. The company has a 50-day moving average of GBX 201.99 and a 200-day moving average of GBX 192.10.

Premier Foods (LON:PFD - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The company reported GBX 14.50 ($0.19) earnings per share for the quarter. Premier Foods had a return on equity of 8.49% and a net margin of 9.89%. Equities analysts forecast that Premier Foods will post 13.2607117 earnings per share for the current fiscal year.

Insider Buying and Selling at Premier Foods

In other news, insider Malcolm Waugh bought 9,368 shares of Premier Foods stock in a transaction on Thursday, May 22nd. The shares were bought at an average cost of GBX 212 ($2.84) per share, for a total transaction of £19,860.16 ($26,640.05). Also, insider Duncan Leggett bought 6,613 shares of Premier Foods stock in a transaction on Friday, May 30th. The stock was purchased at an average price of GBX 209 ($2.80) per share, for a total transaction of £13,821.17 ($18,539.46). In the last ninety days, insiders have bought 34,956 shares of company stock worth $7,333,908. Corporate insiders own 25.24% of the company's stock.

About Premier Foods

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.