Royal Bank Of Canada Lowers Premier Foods (LON:PFD) Price Target to GBX 220

Key Points

• Royal Bank of Canada cut its price target on Premier Foods from GBX 230 to GBX 220, while keeping a sector perform rating. The new target still implies about 14% upside from the prior close.
• Other analysts remain more bullish overall: Deutsche Bank raised its target to GBX 250 with a buy rating, and Jefferies kept a buy rating with a GBX 230 target. The stock’s consensus view remains Moderate Buy with an average target of GBX 242.
• Premier Foods shares were down 0.5% and opened at GBX 192.70; the company recently reported quarterly EPS of GBX 15.80. Insider selling was also noted, including share sales by Alex Whitehouse and Duncan Leggett.

Premier Foods (LON:PFD - Get Free Report) had its price target cut by equities research analysts at Royal Bank Of Canada from GBX 230 to GBX 220 in a report issued on Friday,Digital Look reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price would indicate a potential upside of 14.17% from the company's previous close.

Several other research analysts also recently issued reports on PFD. Deutsche Bank Aktiengesellschaft lifted their price target on Premier Foods from GBX 240 to GBX 250 and gave the stock a "buy" rating in a research note on Friday, May 15th. Shore Capital Group reiterated a "house stock" rating on shares of Premier Foods in a report on Thursday. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a GBX 230 target price on shares of Premier Foods in a research note on Friday, May 15th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of GBX 242.

Premier Foods Trading Down 0.5%

Shares of PFD stock opened at GBX 192.70 on Friday. The business's fifty day moving average price is GBX 201.99 and its 200 day moving average price is GBX 192.76. The firm has a market capitalization of £1.66 billion, a PE ratio of 12.43, a P/E/G ratio of 1.44 and a beta of 0.60. The company has a debt-to-equity ratio of 24.06, a current ratio of 0.75 and a quick ratio of 0.41. Premier Foods has a 1-year low of GBX 165.20 and a 1-year high of GBX 211.60.

Premier Foods (LON:PFD - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported GBX 15.80 EPS for the quarter. Premier Foods had a net margin of 11.62% and a return on equity of 9.74%. The company had revenue of GBX 117.55 billion for the quarter. As a group, sell-side analysts forecast that Premier Foods will post 13.2607117 EPS for the current fiscal year.

Insider Activity at Premier Foods

In other Premier Foods news, insider Alex Whitehouse sold 9,794 shares of Premier Foods stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of GBX 203, for a total transaction of £19,881.82. Also, insider Duncan Leggett sold 6,344 shares of Premier Foods stock in a transaction on Thursday, May 21st. The shares were sold at an average price of GBX 203, for a total transaction of £12,878.32. Insiders sold 22,482 shares of company stock worth $4,563,846 in the last 90 days. 1.68% of the stock is currently owned by insiders.

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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