Premium Brands (TSE:PBH) Reaches New 52-Week Low - Here's What Happened

Key Points

• Premium Brands fell to a new 52-week low, trading as low as C$69.15 before closing near C$69.22, below its previous close of C$69.89.
• Analysts have lowered their price targets but remain broadly bullish: the stock has a consensus “Buy” rating and an average target of C$116.25.
• The company reported quarterly earnings of C$1.53 per share on C$2.38 billion in revenue, while its shares trade below both their 50-day and 200-day moving averages.

Premium Brands Holdings Co. (TSE:PBH - Get Free Report) reached a new 52-week low during mid-day trading on Monday. The stock traded as low as C$69.15 and last traded at C$69.22, with a volume of 47351 shares. The stock had previously closed at C$69.89.

Wall Street Analyst Weigh In

Several research firms have issued reports on PBH. Royal Bank Of Canada dropped their target price on Premium Brands from C$131.00 to C$120.00 and set an "outperform" rating on the stock in a research report on Friday, August 7th. TD reduced their price target on Premium Brands from C$140.00 to C$130.00 and set a "buy" rating for the company in a report on Friday, August 7th. Scotia decreased their price target on Premium Brands from C$110.00 to C$105.00 and set a "sector outperform" rating on the stock in a research note on Friday, August 7th. Ventum cut their price objective on Premium Brands from C$128.00 to C$127.00 and set a "buy" rating for the company in a research report on Friday, August 7th. Finally, Canadian Imperial Bank of Commerce reduced their target price on Premium Brands from C$115.00 to C$100.00 and set a "strong-buy" rating for the company in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Premium Brands currently has a consensus rating of "Buy" and a consensus target price of C$116.25.

Premium Brands Stock Performance

The stock's 50-day moving average price is C$80.30 and its 200-day moving average price is C$84.54. The company has a market capitalization of C$3.61 billion, a price-to-earnings ratio of 42.35, a P/E/G ratio of 1.10 and a beta of 0.77. The company has a debt-to-equity ratio of 153.93, a quick ratio of 1.16 and a current ratio of 1.36.

Premium Brands (TSE:PBH - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported C$1.53 earnings per share for the quarter. The firm had revenue of C$2.38 billion during the quarter. Premium Brands had a return on equity of 4.19% and a net margin of 1.01%. As a group, equities research analysts expect that Premium Brands Holdings Co. will post 6.039823 earnings per share for the current year.

About Premium Brands

Premium Brands owns a broad range of leading specialty food manufacturing and differentiated food distribution businesses with operations across Canada and the United States.

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