Premier Foods (LON:PFD) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Premier Foods plc (LON:PFD) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 195.71 and traded as high as GBX 200.80. Premier Foods shares last traded at GBX 200, with a volume of 74,075,938 shares trading hands.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 230 price target on shares of Premier Foods in a research report on Friday, May 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on Premier Foods from GBX 240 to GBX 250 and gave the stock a “buy” rating in a report on Friday, May 15th. Shore Capital Group restated a “house stock” rating on shares of Premier Foods in a research note on Thursday, July 16th. Finally, Royal Bank Of Canada dropped their price objective on shares of Premier Foods from GBX 230 to GBX 220 and set a “sector perform” rating on the stock in a report on Friday, July 17th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of GBX 242.

Premier Foods Price Performance

The business’s 50 day moving average is GBX 196.70 and its two-hundred day moving average is GBX 195.71. The company has a debt-to-equity ratio of 24.06, a quick ratio of 0.41 and a current ratio of 0.75. The firm has a market capitalization of £1.72 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 1.44 and a beta of 0.59.

Insider Activity at Premier Foods

In related news, insider Malcolm Waugh purchased 5,156 shares of the business’s stock in a transaction dated Friday, July 17th. The stock was purchased at an average cost of GBX 193 per share, with a total value of £9,951.08. 1.68% of the stock is 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.