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 "hold" rating to a "moderate buy" rating in a research note issued on Thursday, August 7th, Marketbeat.com reports. The brokerage presently has a C$108.00 price objective on the stock, up from their previous price objective of C$100.00. Royal Bank Of Canada's price objective points to a potential upside of 14.63% from the company's previous close.

A number of other equities research analysts have also commented on PBH. TD Securities upped their price objective on shares of Premium Brands from C$120.00 to C$140.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Canaccord Genuity Group upped their price objective on shares of Premium Brands from C$100.00 to C$118.00 in a research note on Thursday, August 7th. Scotiabank upped their price objective on shares of Premium Brands from C$91.00 to C$100.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. National Bankshares upped their price objective on shares of Premium Brands from C$99.00 to C$101.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Finally, CIBC upped 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, August 7th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of C$111.18.

Premium Brands Trading Up 0.6%

TSE:PBH opened at C$94.22 on Thursday. The firm's fifty day moving average is C$84.73 and its 200-day moving average is C$80.51. The company has a debt-to-equity ratio of 163.00, a quick ratio of 1.16 and a current ratio of 1.51. Premium Brands has a 52 week low of C$72.57 and a 52 week high of C$97.10. The firm has a market cap of C$4.20 billion, a P/E ratio of 41.94, a P/E/G ratio of 1.10 and a beta of 0.98.

Insider Activity

In related news, Senior Officer William Dion Kalutycz sold 8,000 shares of the business's stock in a transaction 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 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.