Premium Brands (PBH) Price Target Cut to C$92.00
Premium Brands (TSE:PBH) had its target price dropped by investment analysts at BMO Capital Markets from C$137.00 to C$92.00 in a report issued on Wednesday. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 34.44% from the company’s current price.
A number of other brokerages have also weighed in on PBH. Desjardins restated a “buy” rating on shares of Premium Brands in a research report on Wednesday, August 1st. Royal Bank of Canada cut their price objective on Premium Brands from C$142.00 to C$133.00 and set an “outperform” rating for the company in a research report on Tuesday, August 14th. Canaccord Genuity upgraded Premium Brands from a “hold” rating to a “buy” rating and set a C$110.00 price objective for the company in a research report on Tuesday, November 6th. National Bank Financial cut their price objective on Premium Brands from C$130.00 to C$95.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, TD Securities lowered Premium Brands from an “action list buy” rating to a “buy” rating and cut their price objective for the company from C$145.00 to C$95.00 in a research report on Wednesday. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of C$110.38.
Shares of Premium Brands stock opened at C$68.43 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.92 and a debt-to-equity ratio of 126.20. Premium Brands has a twelve month low of C$67.97 and a twelve month high of C$122.77.
In related news, Director Kenneth Propp sold 2,200 shares of the stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of C$98.19, for a total value of C$216,018.00. Also, Director John Zaplatynsky sold 458 shares of the stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of C$97.98, for a total transaction of C$44,874.84.
Premium Brands Company Profile
Premium Brands Holdings Corporation, through its subsidiaries, manufactures and distributes food products primarily in Canada and the United States. It operates through two segments, Specialty Foods and Premium Food Distribution. The company provides premium and natural processed meat products, specialty deli products, meat snacks, beef jerky and halal, sandwiches, pastries, specialty and gourmet products, salads and kettle, entres, panini, wraps, subs, hamburgers, burgers, muffins, breads, specialty pastas, and sushi products.
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