Scotia Issues Positive Forecast for Premium Brands (TSE:PBH) Stock Price

Key Points

• Scotia raised its price target on Premium Brands from C$100.00 to C$110.00 and kept a "sector outperform" rating, implying about a 21.8% upside from the current price.
• Analyst consensus is bullish—1 Strong Buy, 11 Buy and 1 Hold—with an average target of C$118.62, though individual targets range widely across firms.
• Shares traded at C$90.31 recently; the company has a C$4.7B market cap but shows a high P/E (100.34), thin net margin (0.54%) and elevated debt-to-equity (206.42), signaling leverage and stretched valuation.

Premium Brands (TSE:PBH - Get Free Report) had its target price hoisted by research analysts at Scotia from C$100.00 to C$110.00 in a research note issued on Friday,BayStreet.CA reports. The firm presently has a "sector outperform" rating on the stock. Scotia's price target would indicate a potential upside of 21.80% from the company's current price.

Other equities research analysts have also recently issued research reports about the stock. Raymond James Financial lowered their target price on shares of Premium Brands from C$125.00 to C$115.00 and set an "outperform" rating on the stock in a research note on Friday, March 20th. Ventum Capital raised their price target on shares of Premium Brands from C$124.00 to C$128.00 and gave the stock a "buy" rating in a research note on Friday. Canadian Imperial Bank of Commerce upped their price objective on shares of Premium Brands from C$110.00 to C$115.00 in a research note on Friday. TD Securities dropped their price target on Premium Brands from C$160.00 to C$140.00 and set a "buy" rating for the company in a research report on Monday, March 23rd. Finally, Royal Bank Of Canada boosted their price objective on Premium Brands from C$129.00 to C$131.00 and gave the stock an "outperform" rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of C$118.62.

Premium Brands Stock Performance

TSE:PBH traded up C$1.73 during trading hours on Friday, reaching C$90.31. The company had a trading volume of 192,757 shares, compared to its average volume of 160,916. The company has a debt-to-equity ratio of 206.42, a current ratio of 1.23 and a quick ratio of 1.16. The business's 50 day moving average price is C$89.14 and its 200-day moving average price is C$94.85. Premium Brands has a 1-year low of C$78.53 and a 1-year high of C$106.79. The firm has a market cap of C$4.70 billion, a PE ratio of 100.34, a price-to-earnings-growth ratio of 1.10 and a beta of 0.80.

Premium Brands (TSE:PBH - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported C$0.83 earnings per share for the quarter. Premium Brands had a return on equity of 2.38% and a net margin of 0.54%.The business had revenue of C$2.05 billion during the quarter. Research analysts forecast that Premium Brands will post 6.039823 EPS 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.

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