Premier Foods (LON:PFD) Earns Buy Rating from Berenberg Bank

Premier Foods (LON:PFD - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Berenberg Bank in a research note issued to investors on Thursday,Digital Look reports. They currently have a GBX 270 ($3.63) price objective on the stock. Berenberg Bank's price objective points to a potential upside of 43.10% from the company's previous close.

Premier Foods Stock Performance

LON:PFD traded up GBX 1.08 ($0.01) during midday trading on Thursday, hitting GBX 188.68 ($2.53). The company's stock had a trading volume of 527,127 shares, compared to its average volume of 2,622,084. Premier Foods has a fifty-two week low of GBX 164 ($2.20) and a fifty-two week high of GBX 216.50 ($2.91). The company has a debt-to-equity ratio of 25.47, a current ratio of 1.14 and a quick ratio of 0.41. The firm has a market cap of £1.63 billion, a P/E ratio of 14.45, a P/E/G ratio of 1.44 and a beta of 1.08. The firm's 50 day moving average is GBX 202.29 and its 200-day moving average is GBX 192.02.

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

Insider Buying and Selling

In other Premier Foods news, insider Duncan Leggett sold 6,103 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of GBX 209 ($2.81), for a total value of £12,755.27 ($17,128.06). Also, insider Malcolm Waugh bought 9,368 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were purchased at an average cost of GBX 212 ($2.85) per share, with a total value of £19,860.16 ($26,668.67). Insiders have purchased a total of 34,956 shares of company stock valued at $7,333,908 over the last ninety days. Company 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.

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