Premium Brands (TSE:PBH) Upgraded at Royal Bank Of Canada

Key Points

• Royal Bank of Canada upgraded Premium Brands from a "sector perform" rating to an "outperform" rating, raising the price target from C$100.00 to C$108.00, indicating a potential upside of 19.09% from the previous close.
• Various analysts have increased their price targets for Premium Brands, with Canaccord Genuity Group lifting it to C$118.00 and CIBC raising it to C$108.00, while the company maintains a consensus rating of "Buy."
• Premium Brands' stock traded down by 1.3%, reaching C$90.69, with an average trading volume of 97,757 shares and a market capitalization of C$4.04 billion.

Premium Brands (TSE:PBH - Get Free Report) was upgraded by stock analysts at Royal Bank Of Canada from a "sector perform" rating to an "outperform" rating in a research note issued on Thursday,BayStreet.CA reports. The brokerage presently has a C$108.00 price target on the stock, up from their previous price target of C$100.00. Royal Bank Of Canada's price objective would indicate a potential upside of 19.09% from the company's previous close.

A number of other research analysts have also commented on the stock. Scotiabank boosted their price target on shares of Premium Brands from C$91.00 to C$100.00 and gave the company a "sector perform" rating in a research report on Thursday. Canaccord Genuity Group lifted their target price on shares of Premium Brands from C$100.00 to C$118.00 in a research report on Thursday. CIBC boosted their price target on shares of Premium Brands from C$98.00 to C$108.00 and gave the stock an "outperform" rating in a research note on Thursday. Desjardins increased their price objective on shares of Premium Brands from C$93.00 to C$98.00 in a research report on Friday, May 9th. Finally, National Bankshares lifted their price target on shares of Premium Brands from C$99.00 to C$101.00 and gave the company a "sector perform" rating in a report on Thursday. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Premium Brands currently has a consensus rating of "Buy" and an average target price of C$111.18.

Premium Brands Trading Down 1.3%

Premium Brands stock traded down C$1.17 during trading hours on Thursday, reaching C$90.69. 85,998 shares of the company's stock were exchanged, compared to its average volume of 97,757. Premium Brands has a twelve month low of C$72.57 and a twelve month high of C$97.10. The firm has a market capitalization of C$4.04 billion, a PE ratio of 40.37, a PEG ratio of 1.10 and a beta of 0.98. The firm's 50 day simple moving average is C$83.59 and its 200 day simple moving average is C$80.06. The company has a quick ratio of 1.16, a current ratio of 1.51 and a debt-to-equity ratio of 163.00.

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 shares were sold at an average price of C$81.57, for a total transaction of C$652,575.20. 2.01% of the stock is currently owned by company 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.

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