Premium Brands (TSE:PBH) Price Target Lowered to C$120.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada lowered Premium Brands’ price target to C$120 from C$131 while maintaining an “outperform” rating, implying approximately 43% upside from the reported C$83.94 share price.
• Analyst sentiment remains broadly positive: 12 analysts rate the stock a Buy and one assigns a Hold, producing a “Moderate Buy” consensus rating and an average target price of C$116.25.
• Premium Brands shares rose C$2.65 to C$83.94, but remain below their 50-day and 200-day moving averages; the company reported quarterly revenue of C$2.38 billion and EPS of C$1.53.

Premium Brands (TSE:PBH - Get Free Report) had its price objective reduced by equities research analysts at Royal Bank Of Canada from C$131.00 to C$120.00 in a report released on Friday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target would indicate a potential upside of 42.96% from the company's current price.

Several other research firms also recently issued reports on PBH. Scotia increased their price objective on shares of Premium Brands from C$100.00 to C$110.00 and gave the company a "sector outperform" rating in a report on Friday, May 8th. Canadian Imperial Bank of Commerce reduced their price target on shares of Premium Brands from C$115.00 to C$100.00 in a research report on Friday. Ventum Capital raised their price target on shares of Premium Brands from C$124.00 to C$128.00 and gave the company a "buy" rating in a research note on Friday, May 8th. BMO Capital Markets lowered their price objective on Premium Brands from C$118.00 to C$111.00 in a report on Friday. Finally, TD reduced their target price on Premium Brands from C$140.00 to C$130.00 and set a "buy" rating for the company in a report on Friday. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of C$116.25.

Premium Brands Price Performance

Shares of Premium Brands stock traded up C$2.65 on Friday, reaching C$83.94. The company's stock had a trading volume of 285,706 shares, 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 capitalization of C$4.36 billion, a P/E ratio of 93.27, a PEG ratio of 1.10 and a beta of 0.90. The stock has a 50-day moving average price of C$88.40 and a 200-day moving average price of C$90.89. Premium Brands has a 52-week low of C$80.24 and a 52-week 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 (EPS) for the quarter. Premium Brands had a return on equity of 2.21% and a net margin of 0.52%.The firm had revenue of C$2.38 billion for the quarter. Analysts expect that Premium Brands will post 6.039823 EPS for the current year.

About Premium Brands

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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