Premium Brands (TSE:PBH) Share Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Premium Brands Holdings Co. shares have surpassed their two hundred day moving average, trading as high as C$93.90 on Thursday, with the last price recorded at C$93.34.
• Several analysts raised their price targets for Premium Brands, with BMO Capital Markets setting it at C$109.00, indicating an overall positive outlook with an average rating of "Buy."
• The company has a strong market capitalization of C$4.17 billion and key financial metrics, including a price-to-earnings ratio of 44.88, showcasing its growth potential in the food products sector.

Premium Brands Holdings Co. (TSE:PBH - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$82.47 and traded as high as C$93.90. Premium Brands shares last traded at C$93.34, with a volume of 41,800 shares traded.

Analysts Set New Price Targets

PBH has been the topic of several recent research reports. National Bankshares raised their target price on shares of Premium Brands from C$99.00 to C$101.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Royal Bank Of Canada raised shares of Premium Brands from a "hold" rating to a "moderate buy" rating and raised their target price for the stock from C$100.00 to C$108.00 in a report on Thursday, August 7th. TD Securities raised their target price 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. CIBC raised 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, August 7th. Finally, BMO Capital Markets raised their target price on shares of Premium Brands from C$94.00 to C$109.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Premium Brands presently has an average rating of "Buy" and a consensus target price of C$111.18.

Premium Brands Trading Down 0.3%

The business's 50 day simple moving average is C$90.19 and its two-hundred day simple moving average is C$82.87. The stock has a market cap of C$4.18 billion, a P/E ratio of 45.01, a PEG ratio of 1.10 and a beta of 0.49. The company has a quick ratio of 1.16, a current ratio of 1.51 and a debt-to-equity ratio of 163.00.

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.