Premium Brands (TSE:PBH) Stock Price Expected to Rise, Scotiabank Analyst Says

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 target price boosted by investment analysts at 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 indicate a potential upside of 6.95% from the stock's previous close.

Other research analysts also recently issued reports about the stock. CIBC lowered their price objective on shares of Premium Brands from C$98.00 to C$95.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. TD Securities raised their target price on shares of Premium Brands from C$120.00 to C$140.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Royal Bank Of Canada reduced their target price on shares of Premium Brands from C$98.00 to C$97.00 and set a "sector perform" rating for the company in a research note on Tuesday, May 6th. Desjardins raised their target price on shares of Premium Brands from C$93.00 to C$98.00 in a research note on Friday, May 9th. Finally, National Bankshares raised their target price on shares of Premium Brands from C$97.00 to C$99.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Premium Brands currently has a consensus rating of "Buy" and an average price target of C$111.18.

Premium Brands Stock Performance

Premium Brands stock traded up C$1.08 during midday trading on Thursday, hitting C$93.50. 118,687 shares of the company's stock were exchanged, compared to its average volume of 98,162. Premium Brands has a 12-month low of C$72.57 and a 12-month 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 stock has a market cap of C$4.17 billion, a price-to-earnings ratio of 41.62, a price-to-earnings-growth ratio of 1.10 and a beta of 0.98. The firm's 50 day simple moving average is C$84.24 and its 200 day simple moving average is C$80.32.

Insider Activity

In other Premium Brands news, Senior Officer William Dion Kalutycz sold 8,000 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of C$81.57, for a total value of C$652,575.20. 2.01% of the stock is 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.