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

Key Points

• Scotiabank has raised the price target for Premium Brands stock from C$100.00 to C$103.00, indicating an expected upside of 8.72%.
• Other firms have also increased their price targets, with Canaccord Genuity expecting a target of C$118.00 and Royal Bank of Canada raising theirs to C$108.00.
• Premium Brands stock has recently traded up 1.9% to C$94.74, with a year high of C$97.10 and a market cap of C$4.23 billion.

Premium Brands (TSE:PBH - Get Free Report) had its price objective increased by equities research analysts at Scotiabank from C$100.00 to C$103.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. Scotiabank's price target points to a potential upside of 8.72% from the company's previous close.

A number of other equities analysts also recently commented on PBH. Canaccord Genuity Group upped their price objective on shares of Premium Brands from C$100.00 to C$118.00 in a research report on Thursday, August 7th. Raymond James Financial lifted their price target on shares of Premium Brands from C$100.00 to C$115.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. National Bankshares lifted their price target on shares of Premium Brands from C$99.00 to C$101.00 and gave the company a "sector perform" rating in a report on Thursday, August 7th. Royal Bank Of Canada upgraded shares of Premium Brands from a "hold" rating to a "moderate buy" rating and lifted their price target for the company from C$100.00 to C$108.00 in a report on Thursday, August 7th. Finally, TD Securities lifted their price target on shares of Premium Brands from C$120.00 to C$140.00 and gave the company a "buy" rating in a report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Premium Brands currently has a consensus rating of "Buy" and an average price target of C$111.45.

Premium Brands Stock Up 1.9%

Shares of Premium Brands stock traded up C$1.73 during trading hours on Wednesday, hitting C$94.74. The company had a trading volume of 69,921 shares, compared to its average volume of 97,476. The company's 50-day moving average is C$93.05 and its two-hundred day moving average is C$84.98. Premium Brands has a twelve month low of C$72.57 and a twelve month high of C$97.10. The company has a debt-to-equity ratio of 163.00, a current ratio of 1.51 and a quick ratio of 1.16. The company has a market cap of C$4.23 billion, a P/E ratio of 45.55, a price-to-earnings-growth ratio of 1.10 and a beta of 0.34.

About Premium Brands

Premium Brands Holdings Corporation, through its subsidiaries, manufactures and distributes food products primarily in Canada and the United States. It operates in two segments, Specialty Foods and Premium Food Distribution. The company provides processed meat, deli products, meat snacks, beef jerky and halal, sandwiches, pastries, specialty and gourmet products, entrees, panini, wraps, subs, hamburgers, burgers, salads and kettle products, muffins, breads, pastas, pizza, and baking and sushi products.

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