Berenberg Bank Reaffirms Buy Rating for Premier Foods (LON:PFD)

Premier Foods (LON:PFD)‘s stock had its “buy” rating reiterated by equities researchers at Berenberg Bank in a research report issued on Thursday, MarketBeat reports. They currently have a GBX 270 ($3.62) price objective on the stock. Berenberg Bank’s target price would suggest a potential upside of 43.01% from the stock’s previous close.

Premier Foods Price Performance

Shares of PFD stock opened at GBX 188.80 ($2.53) on Thursday. The stock has a 50-day moving average price of GBX 201.99 and a 200 day moving average price of GBX 192.03. The company has a quick ratio of 0.41, a current ratio of 1.14 and a debt-to-equity ratio of 25.47. The firm has a market cap of £1.63 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 1.44 and a beta of 1.08. Premier Foods has a 12 month low of GBX 164 ($2.20) and a 12 month high of GBX 216.50 ($2.91).

Premier Foods (LON:PFD) last announced its quarterly earnings data on Thursday, May 15th. The company reported GBX 14.50 ($0.19) EPS for the quarter. Premier Foods had a return on equity of 8.49% and a net margin of 9.89%. Research analysts expect that Premier Foods will post 13.2607117 EPS for the current year.

Insider Transactions at Premier Foods

In other news, insider Alex Whitehouse sold 9,595 shares of the business’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of GBX 209 ($2.81), for a total transaction of £20,053.55 ($26,917.52). Also, insider Duncan Leggett bought 6,613 shares of the firm’s stock in a transaction dated Friday, May 30th. The shares were bought at an average price of GBX 209 ($2.81) per share, with a total value of £13,821.17 ($18,551.91). In the last ninety days, insiders purchased 34,956 shares of company stock worth $7,333,908. 25.24% of the stock is currently owned by company insiders.

About Premier Foods

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.