BMO Capital Markets Boosts Premium Brands (TSE:PBH) Price Target to C$109.00

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 target raised by research analysts at BMO Capital Markets from C$94.00 to C$109.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. BMO Capital Markets' price objective would indicate a potential upside of 16.58% from the stock's current price.

Several other analysts also recently commented on the stock. Royal Bank Of Canada upgraded shares of Premium Brands from a "sector perform" rating to an "outperform" rating and upped their price target for the company from C$100.00 to C$108.00 in a research report on Thursday. CIBC lifted their price objective on shares of Premium Brands from C$98.00 to C$108.00 and gave the company an "outperform" rating in a research note on Thursday. Desjardins raised their price target on shares of Premium Brands from C$98.00 to C$103.00 and gave the stock a "buy" rating in a research report on Thursday. TD Securities lifted their price objective on shares of Premium Brands from C$120.00 to C$140.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Canaccord Genuity Group boosted their price target on shares of Premium Brands from C$100.00 to C$118.00 in a report on Thursday. Two 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. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of C$111.18.

Premium Brands Trading Up 1.2%

Shares of PBH traded up C$1.08 during trading on Thursday, reaching C$93.50. 118,687 shares of the company traded hands, compared to its average volume of 98,162. The company has a quick ratio of 1.16, a current ratio of 1.51 and a debt-to-equity ratio of 163.00. The stock has a market cap of C$4.17 billion, a PE ratio of 41.62, a price-to-earnings-growth ratio of 1.10 and a beta of 0.98. The stock has a 50-day simple moving average of C$84.24 and a 200-day simple moving average of C$80.32. Premium Brands has a twelve month low of C$72.57 and a twelve month high of C$97.10.

Insider Transactions 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 transaction of C$652,575.20. Corporate insiders own 2.01% of the company's stock.

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.