Premium Brands (TSE:PBH) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Key Points

• BMO Capital Markets raised its price target for Premium Brands from C$94.00 to C$109.00, implying a potential upside of 20.19% from the stock's previous close.
• Several analysts have provided positive ratings for Premium Brands, with seven analysts issuing a "buy" rating and a consensus price target of C$111.18.
• Despite the optimistic outlook, shares of Premium Brands recently traded down 1.3%, marking a current trading price of C$90.69.

Premium Brands (TSE:PBH - Get Free Report) had its price objective increased by stock analysts at BMO Capital Markets from C$94.00 to C$109.00 in a report issued on Thursday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. BMO Capital Markets' target price suggests a potential upside of 20.19% from the stock's previous close.

PBH has been the subject of several other reports. 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 report on Friday, July 18th. Desjardins increased their price objective on Premium Brands from C$98.00 to C$103.00 and gave the stock a "buy" rating in a report on Thursday. Scotiabank increased their price objective on Premium Brands from C$91.00 to C$100.00 and gave the stock a "sector perform" rating in a report on Thursday. CIBC increased their target price on shares of Premium Brands from C$98.00 to C$108.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Royal Bank Of Canada upgraded shares of Premium Brands from a "sector perform" rating to an "outperform" rating and increased their target price for the stock from C$100.00 to C$108.00 in a report on Thursday. Two investment 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 stock has a consensus rating of "Buy" and a consensus price target of C$111.18.

Premium Brands Trading Down 1.3%

Shares of Premium Brands stock traded down C$1.17 during trading hours on Thursday, hitting C$90.69. The company's stock had a trading volume of 85,998 shares, compared to its average volume of 97,757. Premium Brands has a 12 month low of C$72.57 and a 12 month high of C$97.10. The stock has a 50 day moving average of C$83.59 and a 200 day moving average of C$80.06. The company has a market capitalization of C$4.04 billion, a PE ratio of 40.37, a price-to-earnings-growth ratio of 1.10 and a beta of 0.98. The company has a debt-to-equity ratio of 163.00, a current ratio of 1.51 and a quick ratio of 1.16.

Insider Buying and Selling at Premium Brands

In related news, Senior Officer William Dion Kalutycz sold 8,000 shares of the 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 transaction of C$652,575.20. 2.01% of the stock is owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.