Premium Brands (TSE:PBH) Given New C$115.00 Price Target at Raymond James Financial

Key Points

• Raymond James Financial has raised its price target for Premium Brands from C$100.00 to C$115.00, indicating a potential upside of 26.81% from the current price.
• Multiple investment firms, including BMO Capital Markets and TD Securities, have also increased their price targets, reflecting a generally positive outlook for the stock with an average rating of "Buy."
• Despite recent upgrades, Premium Brands' stock fell by 1.3%, closing at C$90.69, with ongoing concerns regarding its debt-to-equity ratio of 163.00.

Premium Brands (TSE:PBH - Get Free Report) had its price target hoisted by investment analysts at Raymond James Financial from C$100.00 to C$115.00 in a report released on Thursday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Raymond James Financial's price target would suggest a potential upside of 26.81% from the company's current price.

PBH has been the topic of a number of other research reports. BMO Capital Markets increased their price objective on shares of Premium Brands from C$94.00 to C$109.00 and gave the stock an "outperform" rating in a report on Thursday. TD Securities increased their price target on Premium Brands from C$120.00 to C$140.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Royal Bank Of Canada raised Premium Brands from a "sector perform" rating to an "outperform" rating and increased their price target for the company from C$100.00 to C$108.00 in a research note on Thursday. CIBC lifted their price objective on shares of Premium Brands from C$98.00 to C$108.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Desjardins boosted their price target on shares of Premium Brands from C$98.00 to C$103.00 and gave the company a "buy" rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of C$111.18.

Premium Brands Stock Down 1.3%

Shares of PBH stock traded down C$1.17 on Thursday, hitting C$90.69. The stock had a trading volume of 85,998 shares, compared to its average volume of 97,757. The stock's 50 day moving average is C$83.59 and its 200-day moving average is C$80.06. The company has a debt-to-equity ratio of 163.00, a quick ratio of 1.16 and a current ratio of 1.51. Premium Brands has a 52-week low of C$72.57 and a 52-week high of C$97.10. The firm has a market capitalization of C$4.04 billion, a price-to-earnings ratio of 40.37, a P/E/G ratio of 1.10 and a beta of 0.98.

Insider Buying and Selling at Premium Brands

In other Premium Brands news, Senior Officer William Dion Kalutycz sold 8,000 shares of the company's 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 transaction of C$652,575.20. 2.01% of the stock is owned by insiders.

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.

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