Premium Brands (TSE:PBH) Given New C$130.00 Price Target at ATB Cormark Capital Markets

Key Points

• ATB Cormark cut Premium Brands’ price target from C$150 to C$130 while maintaining an “outperform” rating, implying 54.87% upside from the stock’s C$83.94 price.
• Analyst sentiment remains broadly positive: 12 analysts rate the stock Buy and one rates it Hold, producing a consensus “Moderate Buy” rating and C$116.25 target price.
• Premium Brands reported quarterly EPS of C$1.53 on revenue of C$2.38 billion. Shares remain below their 50-day and 200-day moving averages and trade near the lower end of their C$80.24–C$106.79 one-year range.

Premium Brands (TSE:PBH - Get Free Report) had its price objective dropped by ATB Cormark Capital Markets from C$150.00 to C$130.00 in a research note issued on Friday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. ATB Cormark Capital Markets' target price suggests a potential upside of 54.87% from the stock's current price.

PBH has been the topic of several other reports. Scotia decreased their price target on Premium Brands from C$110.00 to C$105.00 and set a "sector outperform" rating on the stock in a research report on Friday. Canadian Imperial Bank of Commerce cut their price objective on shares of Premium Brands from C$115.00 to C$100.00 in a research report on Friday. Ventum Capital upped their target price on shares of Premium Brands from C$124.00 to C$128.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Ventum lowered their target price on shares of Premium Brands from C$128.00 to C$127.00 and set a "buy" rating on the stock in a research note on Friday. Finally, Stifel Nicolaus set a C$117.00 price target on shares of Premium Brands and gave the company a "buy" rating in a report on Monday, July 20th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Premium Brands has a consensus rating of "Moderate Buy" and a consensus target price of C$116.25.

Premium Brands Stock Performance

Shares of Premium Brands stock traded up C$2.65 during trading hours on Friday, reaching C$83.94. The company had a trading volume of 285,706 shares, compared to its average volume of 169,553. The firm has a market cap of C$4.36 billion, a PE ratio of 93.27, a price-to-earnings-growth ratio of 1.10 and a beta of 0.90. Premium Brands has a one year low of C$80.24 and a one year high of C$106.79. The company has a debt-to-equity ratio of 163.05, a current ratio of 1.28 and a quick ratio of 1.16. The business has a fifty day simple moving average of C$88.40 and a 200 day simple moving average of C$90.89.

Premium Brands (TSE:PBH - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported C$1.53 earnings per share (EPS) for the quarter. The company had revenue of C$2.38 billion for the quarter. Premium Brands had a return on equity of 2.21% and a net margin of 0.52%. On average, analysts anticipate that Premium Brands will post 6.039823 earnings per share for the current fiscal year.

Premium Brands Company Profile

Premium Brands Holdings Corp is engaged in specialty food manufacturing, premium food distribution, and wholesale businesses with operations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nevada, and Washington State. The company's business segments include Specialty Foods, Premium Food Distribution, and Corporate. The Specialty Foods segment consists of its specialty food manufacturing businesses, which contributes about two-thirds of the group revenue; the Premium Food Distribution segment consists of the company's distribution and wholesale businesses; the Corporate segment includes the company's head office activities along with its finance and information systems.

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