Premium Brands (TSE:PBH) Hits New 1-Year High - Time to Buy?

Key Points

• Premium Brands Holdings Co. shares reached a new 52-week high of C$97.65, with a trading volume of 183,188 shares.
• Multiple brokerages have raised their price targets for the stock, with CIBC setting a target of C$108.00 and TD Securities increasing it to C$140.00.
• The stock currently holds a consensus rating of "Buy" and has a market capitalization of C$4.35 billion.

Premium Brands Holdings Co. (TSE:PBH - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The company traded as high as C$97.65 and last traded at C$97.65, with a volume of 183188 shares traded. The stock had previously closed at C$95.79.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PBH. CIBC upped their price target on Premium Brands from C$98.00 to C$108.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. National Bankshares raised their price objective on Premium Brands from C$99.00 to C$101.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. TD Securities raised their price objective 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. Canaccord Genuity Group raised their price objective on Premium Brands from C$100.00 to C$118.00 in a research note on Thursday, August 7th. Finally, Desjardins raised their price objective on Premium Brands from C$98.00 to C$103.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of C$111.45.

Premium Brands Price Performance

The stock has a 50 day moving average of C$93.69 and a 200-day moving average of C$85.46. The stock has a market capitalization of C$4.35 billion, a P/E ratio of 46.78, a price-to-earnings-growth ratio of 1.10 and a beta of 0.34. The company has a current ratio of 1.51, a quick ratio of 1.16 and a debt-to-equity ratio of 163.00.

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.

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