Premium Brands (TSE:PBH) Price Target Raised to C$100.00

Key Points

• Scotiabank has raised the price target for Premium Brands from C$91.00 to C$100.00, suggesting a potential upside of 10.27% from the current price.
• Despite the positive outlook from some analysts, several price targets have been adjusted downward recently, with Royal Bank of Canada and CIBC both lowering their expectations for the stock.
• Premium Brands' stock is trading at C$90.69, reflecting a 1.3% decrease during trading hours, with a debt-to-equity ratio of 163.00.

Premium Brands (TSE:PBH - Get Free Report) had its price objective increased by Scotiabank from C$91.00 to C$100.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. Scotiabank's target price would suggest a potential upside of 10.27% from the company's current price.

Several other research analysts also recently commented on the stock. Royal Bank Of Canada decreased their price target on shares of Premium Brands from C$98.00 to C$97.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 6th. CIBC reduced their target price on shares of Premium Brands from C$98.00 to C$95.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. TD Securities raised their price target on Premium Brands from C$120.00 to C$140.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Desjardins raised their price target on Premium Brands from C$93.00 to C$98.00 in a research note on Friday, May 9th. Finally, Canaccord Genuity Group upgraded Premium Brands to a "strong-buy" rating in a research note on Tuesday, May 27th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of C$111.18.

Premium Brands Trading Down 1.3%

Shares of PBH stock traded down C$1.17 during trading hours on Thursday, hitting C$90.69. 85,998 shares of the company were exchanged, compared to its average volume of 97,757. The company has a 50 day simple moving average of C$83.59 and a two-hundred day simple moving average of C$80.06. Premium Brands has a fifty-two week low of C$72.57 and a fifty-two week high of C$97.10. The company has a debt-to-equity ratio of 163.00, a quick ratio of 1.16 and a current ratio of 1.51. The firm has a market cap of C$4.04 billion, a P/E ratio of 40.37, a P/E/G ratio of 1.10 and a beta of 0.98.

Insiders Place Their Bets

In other news, Senior Officer William Dion Kalutycz sold 8,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of C$81.57, for a total transaction of C$652,575.20. 2.01% of the stock is currently owned by company insiders.

About Premium Brands

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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