Premium Brands (TSE:PBH) Price Target Cut to C$137.00

Premium Brands (TSE:PBHGet Rating) had its price objective lowered by analysts at National Bankshares from C$138.00 to C$137.00 in a research note issued on Tuesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ price target indicates a potential upside of 38.10% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. BMO Capital Markets reduced their target price on shares of Premium Brands from C$142.00 to C$139.00 in a research note on Monday. Scotiabank reduced their price target on shares of Premium Brands from C$150.00 to C$145.00 in a research note on Friday, March 11th. CIBC reduced their price target on shares of Premium Brands from C$120.00 to C$113.00 and set a “neutral” rating on the stock in a research note on Monday. Desjardins reaffirmed a “buy” rating and issued a C$150.00 price target on shares of Premium Brands in a research note on Sunday, April 17th. Finally, Royal Bank of Canada reduced their price target on shares of Premium Brands from C$126.00 to C$125.00 and set a “sector perform” rating on the stock in a research note on Monday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$142.67.

Shares of PBH traded down C$1.20 during midday trading on Tuesday, hitting C$99.20. The stock had a trading volume of 47,143 shares, compared to its average volume of 91,484. Premium Brands has a 1 year low of C$97.48 and a 1 year high of C$137.75. The firm has a market cap of C$4.44 billion and a PE ratio of 32.57. The company has a debt-to-equity ratio of 109.15, a current ratio of 2.09 and a quick ratio of 0.93. The stock’s 50 day moving average is C$106.09 and its 200 day moving average is C$118.90.

Premium Brands (TSE:PBHGet Rating) last announced its earnings results on Thursday, March 10th. The company reported C$1.23 earnings per share for the quarter, beating the consensus estimate of C$1.17 by C$0.06. The firm had revenue of C$1.35 billion during the quarter, compared to analysts’ expectations of C$1.27 billion. As a group, equities research analysts expect that Premium Brands will post 6.5300002 earnings per share for the current fiscal year.

About Premium Brands (Get Rating)

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, entrees, panini, wraps, subs, hamburgers, burgers, muffins, breads, pastas, and baking and sushi products, as well as processed meat products and ready-to-eat meals.

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