Premium Brands (TSE:PBH) Price Target Cut to C$111.00 by Analysts at BMO Capital Markets

Key Points

• BMO Capital Markets cut Premium Brands’ price target to C$111 from C$118, while still implying 32.24% upside from the current share price.
• Analyst sentiment remains favorable: 12 analysts rate the stock a Buy and one rates it Hold, producing a consensus rating of “Moderate Buy” and an average price target of C$116.25.
• Premium Brands shares rose 3.3% to C$83.94, but the company trades well below its 12-month high of C$106.79 and reported quarterly revenue of C$2.38 billion with earnings of C$1.53 per share.

Premium Brands (TSE:PBH - Get Free Report) had its price target lowered by BMO Capital Markets from C$118.00 to C$111.00 in a report issued on Friday,BayStreet.CA reports. BMO Capital Markets' price objective suggests a potential upside of 32.24% from the company's current price.

A number of other analysts have also recently weighed in on the company. Stifel Nicolaus set a C$117.00 price objective on Premium Brands and gave the stock a "buy" rating in a research report on Monday, July 20th. Canadian Imperial Bank of Commerce increased their price target on Premium Brands from C$110.00 to C$115.00 in a research note on Friday, May 8th. Royal Bank Of Canada boosted their price target on Premium Brands from C$129.00 to C$131.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. Ventum Capital upped their price objective on shares of Premium Brands from C$124.00 to C$128.00 and gave the company a "buy" rating in a report on Friday, May 8th. Finally, TD decreased their price objective on shares of Premium Brands from C$140.00 to C$130.00 and set a "buy" rating for the company in a research report on Friday. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$116.25.

Premium Brands Stock Up 3.3%

Shares of TSE PBH traded up C$2.65 during trading hours on Friday, hitting C$83.94. 285,706 shares of the stock were exchanged, compared to its average volume of 169,553. The company has a quick ratio of 1.16, a current ratio of 1.28 and a debt-to-equity ratio of 163.05. The company has a market cap of C$4.36 billion, a PE ratio of 93.27, a PEG ratio of 1.10 and a beta of 0.90. The firm has a fifty day moving average price of C$88.40 and a 200-day moving average price of C$90.89. Premium Brands has a 12 month low of C$80.24 and a 12 month high of C$106.79.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source