Premium Brands (TSE:PBH) Sets New 52-Week High on Analyst Upgrade

Premium Brands Holdings Co. (TSE:PBH)’s share price reached a new 52-week high on Wednesday after National Bank Financial raised their price target on the stock to C$136.00. National Bank Financial currently has an outperform rating on the stock. Premium Brands traded as high as C$128.05 and last traded at C$128.19, with a volume of 30743 shares trading hands. The stock had previously closed at C$126.66.

Several other brokerages have also commented on PBH. National Bankshares increased their price target on shares of Premium Brands from C$134.00 to C$136.00 and gave the stock an “outperform” rating in a research note on Wednesday. CIBC increased their price target on shares of Premium Brands from C$118.00 to C$120.00 and gave the stock a “neutral” rating in a research note on Friday, May 7th. Finally, Scotiabank increased their price target on shares of Premium Brands from C$135.00 to C$137.00 in a research note on Tuesday, April 13th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Premium Brands currently has a consensus rating of “Buy” and an average price target of C$131.00.

The company has a fifty day moving average price of C$124.29. The firm has a market capitalization of C$5.59 billion and a P/E ratio of 57.20. The company has a debt-to-equity ratio of 120.56, a current ratio of 2.19 and a quick ratio of 1.16.

Premium Brands (TSE:PBH) last released its quarterly earnings data on Thursday, May 6th. The company reported C$0.72 EPS for the quarter, topping analysts’ consensus estimates of C$0.65 by C$0.07. The business had revenue of C$1.01 billion for the quarter, compared to the consensus estimate of C$992.83 million. As a group, research analysts forecast that Premium Brands Holdings Co. will post 5.2732756 EPS for the current fiscal year.

About Premium Brands (TSE:PBH)

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.

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