Premium Brands (TSE:PBH) Share Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Premium Brands Holdings Co. (TSE:PBH) recently crossed above its 200-day moving average of C$81.73, reaching a high of C$95.22 during trading.
• Several analysts have raised their price targets for Premium Brands, with BMO Capital Markets increasing their target from C$94.00 to C$109.00 and giving it an "outperform" rating.
• Premium Brands currently has an average analyst rating of "Buy" and an average price target of C$111.18, reflecting positive market sentiment.

Premium Brands Holdings Co. (TSE:PBH - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$81.73 and traded as high as C$95.22. Premium Brands shares last traded at C$95.05, with a volume of 60,278 shares.

Analysts Set New Price Targets

A number of equities research analysts have commented on PBH shares. Scotiabank raised their target price on shares of Premium Brands from C$91.00 to C$100.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 7th. BMO Capital Markets increased their target price on Premium Brands from C$94.00 to C$109.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Royal Bank Of Canada upgraded Premium Brands from a "hold" rating to a "moderate buy" rating and increased their target price for the stock from C$100.00 to C$108.00 in a research report on Thursday, August 7th. National Bankshares increased their target price on Premium Brands from C$99.00 to C$101.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. Finally, Desjardins increased their target price on Premium Brands from C$98.00 to C$103.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Premium Brands presently has an average rating of "Buy" and an average price target of C$111.18.

Premium Brands Price Performance

The firm has a market cap of C$4.24 billion, a PE ratio of 42.31, a PEG ratio of 1.10 and a beta of 0.98. The firm has a fifty day simple moving average of C$87.75 and a two-hundred day simple moving average of C$81.73. The company has a debt-to-equity ratio of 163.00, a quick ratio of 1.16 and a current ratio of 1.51.

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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