Premier Foods (LON:PFD) Share Price Passes Below 200 Day Moving Average - Here's What Happened

Key Points

• Premier Foods plc shares fell below their 200-day moving average for the first time, trading as low as GBX 180 ($2.42) before closing at GBX 183.61 ($2.47).
• Analysts have mixed views on the stock, with a buy rating from Berenberg Bank and a price target increase by Deutsche Bank, while Shore Capital maintains a "house stock" rating.
• Insider Tim Elliott recently purchased 1,000 shares of Premier Foods stock at a price of GBX 187 per share, indicating confidence in the company's future prospects.

Premier Foods plc (LON:PFD - Get Free Report) shares passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 194.14 ($2.61) and traded as low as GBX 180 ($2.42). Premier Foods shares last traded at GBX 183.61 ($2.47), with a volume of 907,983 shares traded.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PFD shares. Shore Capital reissued a "house stock" rating on shares of Premier Foods in a research report on Friday, September 19th. Berenberg Bank restated a "buy" rating and set a GBX 270 price objective on shares of Premier Foods in a research note on Thursday, August 21st. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Premier Foods from GBX 230 to GBX 240 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of GBX 255.

Premier Foods Stock Up 0.5%

The company has a debt-to-equity ratio of 25.47, a quick ratio of 0.41 and a current ratio of 1.14. The stock has a market capitalization of £1.59 billion, a PE ratio of 1,308.37, a PEG ratio of 1.44 and a beta of 1.08. The business has a 50 day moving average of GBX 189.04 and a two-hundred day moving average of GBX 194.14.

Insider Buying and Selling

In other Premier Foods news, insider Tim Elliott purchased 1,000 shares of the firm's stock in a transaction on Thursday, September 18th. The stock was bought at an average cost of GBX 187 per share, for a total transaction of £1,870. Company insiders own 1.62% of the company's stock.

Premier Foods Company Profile

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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