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

Key Points

• Premium Brands (TSE:PBH) fell below its 200-day moving average on Friday, trading as low as C$87.40 and last changing hands at C$88.31.
• Recent analyst sentiment remains mostly positive: several firms raised price targets, and the stock carries a Moderate Buy consensus with an average target price of C$118.62.
• The company reported C$0.83 EPS for its latest quarter on C$2.05 billion in revenue, while its valuation and balance sheet show a high P/E ratio of 98.12 and a debt-to-equity ratio of 163.05.

Premium Brands Holdings Co. (TSE:PBH - Get Free Report) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$92.33 and traded as low as C$87.40. Premium Brands shares last traded at C$88.31, with a volume of 179,028 shares.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PBH. Royal Bank Of Canada upped their target price on shares of Premium Brands from C$129.00 to C$131.00 and gave the stock an "outperform" rating in a research report on Friday, May 8th. Scotia boosted their price objective on shares of Premium Brands from C$100.00 to C$110.00 and gave the stock a "sector outperform" rating in a research report on Friday, May 8th. Stifel Nicolaus upped their price objective on Premium Brands from C$112.00 to C$117.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Raymond James Financial reduced their price objective on Premium Brands from C$125.00 to C$115.00 and set an "outperform" rating on the stock in a report on Friday, March 20th. Finally, Scotiabank decreased their price objective on Premium Brands from C$120.00 to C$100.00 and set an "outperform" rating on the stock in a research report on Friday, March 20th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Premium Brands has a consensus rating of "Moderate Buy" and an average target price of C$118.62.

Premium Brands Price Performance

The company's 50 day simple moving average is C$87.44 and its 200 day simple moving average is C$92.33. The company has a debt-to-equity ratio of 163.05, a current ratio of 1.28 and a quick ratio of 1.16. The stock has a market cap of C$4.59 billion, a P/E ratio of 98.12, a P/E/G ratio of 1.10 and a beta of 0.90.

Premium Brands (TSE:PBH - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported C$0.83 earnings per share for the quarter. Premium Brands had a net margin of 0.52% and a return on equity of 2.21%. The company had revenue of C$2.05 billion for the quarter. As a group, equities analysts forecast that Premium Brands Holdings Co. will post 6.039823 earnings per share for the current year.

Premium Brands Company Profile

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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