CIBC Issues Positive Forecast for Premium Brands (TSE:PBH) Stock Price

Key Points

• CIBC analysts raised the price target for Premium Brands from C$98.00 to C$108.00, indicating a potential upside of 19.09% from the current price.
• Premium Brands shares recently traded down by 1.3% to C$90.69, with a market capitalization of C$4.04 billion.
• The company has a broad range of food products and operates in two segments, Specialty Foods and Premium Food Distribution.

Premium Brands (TSE:PBH - Get Free Report) had its price target upped by CIBC from C$98.00 to C$108.00 in a research note issued on Thursday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. CIBC's price objective suggests a potential upside of 15.51% from the company's current price.

A number of other equities analysts also recently issued reports on PBH. Royal Bank Of Canada reduced their price target on Premium Brands from C$98.00 to C$97.00 and set a "sector perform" rating on the stock in a research report on Tuesday, May 6th. National Bankshares increased their price target on Premium Brands from C$97.00 to C$99.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. TD Securities increased 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 increased their price target on Premium Brands from C$93.00 to C$98.00 in a research report on Friday, May 9th. Finally, Canaccord Genuity Group increased their price target on Premium Brands from C$100.00 to C$118.00 in a research report on Thursday. Two equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of C$111.18.

Premium Brands Trading Up 1.2%

Shares of TSE PBH traded up C$1.08 during trading hours on Thursday, reaching C$93.50. The stock had a trading volume of 118,687 shares, compared to its average volume of 98,162. The business's fifty day moving average price is C$84.24 and its two-hundred day moving average price is C$80.32. The company has a current ratio of 1.51, a quick ratio of 1.16 and a debt-to-equity ratio of 163.00. The firm has a market cap of C$4.17 billion, a price-to-earnings ratio of 41.62, a P/E/G ratio of 1.10 and a beta of 0.98. Premium Brands has a 52-week low of C$72.57 and a 52-week high of C$97.10.

Insider Activity at Premium Brands

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

Premium Brands Company Profile

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.