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

Key Points

• Premium Brands shares fell below their 200-day moving average of C$90.21, trading as low as C$80.35 and last changing hands at C$80.70 on volume of 310,694 shares.
• Analysts lowered their price targets but remained broadly positive: the consensus rating is “Buy”, with an average target of C$116.25 versus the recent share price.
• The company reported quarterly EPS of C$1.53 and revenue of C$2.38 billion, while profitability remained modest with a 1.01% net margin and 4.19% return on equity.

Premium Brands Holdings Co. (TSE:PBH - Get Free Report) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$90.21 and traded as low as C$80.35. Premium Brands shares last traded at C$80.70, with a volume of 310,694 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PBH shares. Stifel Nicolaus cut their price objective on Premium Brands from C$117.00 to C$105.00 and set a "buy" rating for the company in a research report on Friday, August 7th. ATB Cormark Capital Markets decreased their target price on Premium Brands from C$150.00 to C$130.00 and set an "outperform" rating on the stock in a research report on Friday, August 7th. Desjardins dropped their price target on Premium Brands from C$120.00 to C$110.00 and set a "buy" rating for the company in a research note on Friday, August 7th. Ventum cut their price target on Premium Brands from C$128.00 to C$127.00 and set a "buy" rating for the company in a report on Friday, August 7th. Finally, Scotia cut their price target on Premium Brands from C$110.00 to C$105.00 and set a "sector outperform" rating for the company in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of C$116.25.

Premium Brands Trading Down 1.3%

The company has a quick ratio of 1.16, a current ratio of 1.36 and a debt-to-equity ratio of 153.93. The stock's 50 day moving average is C$87.46 and its 200-day moving average is C$90.21. The company has a market cap of C$4.20 billion, a PE ratio of 49.21, a P/E/G ratio of 1.10 and a beta of 0.90.

Premium Brands (TSE:PBH - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported C$1.53 EPS for the quarter. Premium Brands had a net margin of 1.01% and a return on equity of 4.19%. The business had revenue of C$2.38 billion during the quarter. As a group, sell-side analysts anticipate that Premium Brands Holdings Co. 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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