Scotia Cuts Premium Brands (TSE:PBH) Price Target to C$105.00

Key Points

• Scotia lowered Premium Brands’ price target from C$110 to C$105 while maintaining a “sector outperform” rating, implying roughly 25% upside from the prior close.
• Other analysts also reduced their targets, but sentiment remains positive: 12 analysts rate the stock a Buy and one rates it Hold, with a consensus target of C$116.25.
• Premium Brands shares rose C$2.65 to C$83.94 on Friday. The company recently reported C$1.53 in quarterly EPS and C$2.38 billion in revenue.

Premium Brands (TSE:PBH - Get Free Report) had its price objective decreased by equities researchers at Scotia from C$110.00 to C$105.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm presently has a "sector outperform" rating on the stock. Scotia's target price indicates a potential upside of 25.09% from the company's previous close.

Several other equities research analysts have also issued reports on PBH. Royal Bank Of Canada decreased their target price on Premium Brands from C$131.00 to C$120.00 and set an "outperform" rating for the company in a research report on Friday. TD reduced their price target on shares of Premium Brands from C$140.00 to C$130.00 and set a "buy" rating for the company in a research report on Friday. Desjardins decreased their price objective on shares of Premium Brands from C$120.00 to C$110.00 and set a "buy" rating for the company in a report on Friday. Stifel Nicolaus set a C$117.00 price objective on shares of Premium Brands and gave the stock a "buy" rating in a research report on Monday, July 20th. Finally, Canaccord Genuity Group dropped their target price on shares of Premium Brands from C$123.00 to C$117.00 in a research note on Friday. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of C$116.25.

Premium Brands Stock Performance

Shares of PBH stock traded up C$2.65 during trading on Friday, hitting C$83.94. The company's stock had a trading volume of 285,706 shares, compared to its average volume of 169,553. The company has a market cap of C$4.36 billion, a PE ratio of 93.27, a P/E/G ratio of 1.10 and a beta of 0.90. The company has a current ratio of 1.28, a quick ratio of 1.16 and a debt-to-equity ratio of 163.05. The business has a fifty day moving average of C$88.40 and a 200-day moving average of C$90.89. Premium Brands has a 52 week low of C$80.24 and a 52 week high of C$106.79.

Premium Brands (TSE:PBH - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported C$1.53 EPS for the quarter. The company had revenue of C$2.38 billion during the quarter. Premium Brands had a return on equity of 2.21% and a net margin of 0.52%. As a group, research analysts anticipate that Premium Brands will post 6.039823 earnings per share for the current year.

Premium Brands Company Profile

Premium Brands Holdings Corp is engaged in specialty food manufacturing, premium food distribution, and wholesale businesses with operations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nevada, and Washington State. The company's business segments include Specialty Foods, Premium Food Distribution, and Corporate. The Specialty Foods segment consists of its specialty food manufacturing businesses, which contributes about two-thirds of the group revenue; the Premium Food Distribution segment consists of the company's distribution and wholesale businesses; the Corporate segment includes the company's head office activities along with its finance and information systems.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source