Premier Foods (LON:PFD) Stock Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Premier Foods shares rose above their 200-day moving average, reaching GBX 200.40 before last trading at GBX 197.80 on volume of 939,359 shares.
• Analyst sentiment remains positive, with four Buy ratings and one Hold rating. The stock has a “Moderate Buy” consensus rating and an average price target of GBX 242, above its recent trading level.
• Insider Malcolm Waugh purchased 5,156 shares at an average price of GBX 193, while company insiders collectively own 1.68% of Premier Foods.

Shares of Premier Foods plc (LON:PFD - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 196.06 and traded as high as GBX 200.40. Premier Foods shares last traded at GBX 197.80, with a volume of 939,359 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently weighed in on PFD. Jefferies Financial Group restated a "buy" rating and set a GBX 230 price objective on shares of Premier Foods in a research note on Friday, May 15th. Royal Bank Of Canada reduced their price target on Premier Foods from GBX 230 to GBX 220 and set a "sector perform" rating for the company in a report on Friday, July 17th. Shore Capital Group reissued a "house stock" rating on shares of Premier Foods in a research report on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Premier Foods from GBX 240 to GBX 250 and gave the company a "buy" rating in a research note on Friday, May 15th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of GBX 242.

Premier Foods Stock Down 0.9%

The stock has a 50-day moving average of GBX 196.68 and a 200-day moving average of GBX 196.06. The company has a debt-to-equity ratio of 24.06, a current ratio of 0.75 and a quick ratio of 0.41. The firm has a market cap of £1.70 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 1.44 and a beta of 0.59.

Insider Activity

In other news, insider Malcolm Waugh bought 5,156 shares of the company's stock in a transaction on Friday, July 17th. The stock was purchased at an average cost of GBX 193 per share, for a total transaction of £9,951.08. Company insiders own 1.68% of the company's stock.

Premier Foods Company Profile

Premier Foods plc, together with its subsidiaries, manufactures and distributes branded and own label food products in the United Kingdom, other European countries, and internationally. The company operates through Grocery, Sweet Treats, and international segments. It offers a portfolio of product categories, including flavorings and seasonings under the Bisto, OXO, Paxo, and Saxa brands; cooking sauces and accompaniments under the Sharwood's, Loyd Grossman, Spice Tailor and Homepride brands; quick meals, snacks, and soups under the Batchelors and Smash brands; ambient desserts under the Ambrosia, Bird's, and Angel Delight brands; and ambient cakes under the Mr Kipling and Cadbury brands.

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