Premium Brands (TSE:PBH) Reaches New 1-Year High – What’s Next?

Premium Brands Holdings Co. (TSE:PBH)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$101.99 and last traded at C$102.35, with a volume of 47558 shares changing hands. The stock had previously closed at C$102.04.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Scotiabank upgraded shares of Premium Brands from a “hold” rating to an “outperform” rating and upped their target price for the company from C$99.00 to C$120.00 in a research note on Thursday, December 18th. Raymond James Financial boosted their price objective on shares of Premium Brands from C$115.00 to C$125.00 in a report on Thursday, December 18th. Stifel Nicolaus upped their price objective on shares of Premium Brands from C$106.00 to C$111.00 in a research report on Thursday, December 18th. BMO Capital Markets lifted their target price on Premium Brands from C$111.00 to C$125.00 in a research report on Thursday, December 18th. Finally, TD Securities boosted their price target on Premium Brands from C$145.00 to C$160.00 in a research note on Thursday, December 18th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$121.64.

Premium Brands Stock Performance

The company has a current ratio of 1.51, a quick ratio of 1.16 and a debt-to-equity ratio of 163.00. The stock’s 50-day moving average price is C$95.93 and its 200-day moving average price is C$91.67. The company has a market capitalization of C$4.55 billion, a P/E ratio of 69.23, a P/E/G ratio of 1.10 and a beta of 0.38.

Premium Brands (TSE:PBH) last posted its earnings results on Monday, November 10th. The company reported C$1.27 EPS for the quarter. Premium Brands had a return on equity of 5.66% and a net margin of 1.55%.The company had revenue of C$1.99 billion during the quarter. As a group, equities analysts expect that Premium Brands Holdings Co. will post 6.039823 EPS for the current year.

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.