Premier Foods (LON:PFD) Share Price Passes Above 200 Day Moving Average - What's Next?

Key Points

• Premier Foods shares climbed above their 200-day moving average, reaching GBX 200.80 and last trading at GBX 200 on heavy volume of approximately 74.1 million shares.
• Analyst sentiment remains positive, with four Buy ratings and one Hold rating producing a consensus “Moderate Buy” and an average price target of GBX 242.
• Recent analyst targets range from GBX 220 to GBX 250, while insider Malcolm Waugh bought 5,156 shares at GBX 193 each, signaling some internal confidence in the stock.

Premier Foods plc (LON:PFD - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 195.71 and traded as high as GBX 200.80. Premier Foods shares last traded at GBX 200, with a volume of 74,075,938 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PFD. Deutsche Bank Aktiengesellschaft raised their target price on shares of Premier Foods from GBX 240 to GBX 250 and gave the company a "buy" rating in a research note on Friday, May 15th. Shore Capital Group reiterated a "house stock" rating on shares of Premier Foods in a research note on Thursday, July 16th. Royal Bank Of Canada lowered their price objective on shares of Premier Foods from GBX 230 to GBX 220 and set a "sector perform" rating on the stock in a research note on Friday, July 17th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a GBX 230 target price on shares of Premier Foods in a research note on Friday, May 15th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of GBX 242.

Premier Foods Stock Up 1.3%

The firm has a fifty day simple moving average of GBX 196.70 and a 200-day simple moving average of GBX 195.71. The firm has a market cap of £1.72 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 1.44 and a beta of 0.59. The company has a debt-to-equity ratio of 24.06, a quick ratio of 0.41 and a current ratio of 0.75.

Insider Buying and Selling at Premier Foods

In related news, insider Malcolm Waugh acquired 5,156 shares of the company's stock in a transaction dated Friday, July 17th. The shares were bought at an average cost of GBX 193 per share, with a total value of £9,951.08. 1.68% of the stock is owned by insiders.

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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