Premium Brands (TSE:PBH) had its price target decreased by CIBC from C$94.00 to C$81.00 in a note issued to investors on Tuesday, BayStreet.CA reports. CIBC’s target price indicates a potential downside of 2.43% from the company’s previous close.
Several other research analysts also recently issued reports on the stock. Royal Bank of Canada lowered their price objective on shares of Premium Brands from C$103.00 to C$102.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. TD Securities lowered their price objective on shares of Premium Brands from C$110.00 to C$100.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Cormark raised their price objective on shares of Premium Brands from C$97.00 to C$106.00 in a research report on Wednesday, August 14th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Premium Brands has a consensus rating of “Buy” and an average price target of C$95.56.
Premium Brands stock traded up C$0.83 during midday trading on Tuesday, hitting C$83.02. 50,790 shares of the company’s stock were exchanged, compared to its average volume of 109,324. Premium Brands has a 12-month low of C$66.99 and a 12-month high of C$98.87. The company has a debt-to-equity ratio of 117.09, a quick ratio of 0.93 and a current ratio of 1.92. The stock has a market cap of $3.01 billion and a price-to-earnings ratio of 29.54. The firm’s 50 day simple moving average is C$90.33 and its 200 day simple moving average is C$90.19.
Premium Brands (TSE:PBH) last issued its quarterly earnings data on Tuesday, August 13th. The company reported C$1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.72 by C$0.38. The business had revenue of C$945.40 million for the quarter, compared to analysts’ expectations of C$958.00 million. On average, equities research analysts forecast that Premium Brands will post 4.49 EPS for the current fiscal year.
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 meat products and snacks, deli products, beef jerky and halal, sandwiches, pastries, specialty and gourmet products, salads and kettle products, entres, panini, wraps, subs, hamburgers, burgers, muffins, breads, and baking and sushi products.
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