Premium Brands (TSE:PBH) Stock Passes Below 200 Day Moving Average – Here’s Why

Premium Brands Holdings Co. (TSE:PBH)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$97.15 and traded as low as C$95.63. Premium Brands shares last traded at C$96.40, with a volume of 118,357 shares changing hands.

Analysts Set New Price Targets

PBH has been the subject of several recent analyst reports. Raymond James Financial lifted their price objective on shares of Premium Brands from C$115.00 to C$125.00 in a research note on Thursday, December 18th. Desjardins set a C$120.00 target price on shares of Premium Brands and gave the company a “buy” rating in a research note on Friday, December 19th. Scotiabank upgraded shares of Premium Brands from a “hold” rating to an “outperform” rating and raised their target price for the stock from C$99.00 to C$120.00 in a report on Thursday, December 18th. BMO Capital Markets lifted their price target on shares of Premium Brands from C$111.00 to C$125.00 in a research note on Thursday, December 18th. Finally, Canadian Imperial Bank of Commerce upped their price target on shares of Premium Brands from C$115.00 to C$120.00 in a report on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$121.64.

Premium Brands Trading Up 0.4%

The stock has a market capitalization of C$4.31 billion, a P/E ratio of 65.58, a P/E/G ratio of 1.10 and a beta of 0.51. The stock’s 50 day moving average price is C$99.73 and its 200-day moving average price is C$97.15. The company has a quick ratio of 1.16, a current ratio of 1.33 and a debt-to-equity ratio of 201.70.

About Premium Brands

Premium Brands Holdings Corp is engaged in specialty food manufacturing, premium food distribution, and wholesale businesses with operations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nevada, and Washington State. The company’s business segments include Specialty Foods, Premium Food Distribution, and Corporate. The Specialty Foods segment consists of its specialty food manufacturing businesses, which contributes about two-thirds of the group revenue; the Premium Food Distribution segment consists of the company’s distribution and wholesale businesses; the Corporate segment includes the company’s head office activities along with its finance and information systems.