Premium Brands (TSE:PBH) Given New C$117.00 Price Target at Canaccord Genuity Group

Premium Brands (TSE:PBH) had its target price decreased by Canaccord Genuity Group from C$123.00 to C$117.00 in a research report sent to investors on Friday morning,BayStreet.CA reports.

PBH has been the topic of a number of other reports. Stifel Nicolaus set a C$117.00 price target on shares of Premium Brands and gave the stock a “buy” rating in a research report on Monday, July 20th. TD lowered their price objective on shares of Premium Brands from C$140.00 to C$130.00 and set a “buy” rating for the company in a research report on Friday. Ventum Financial set a C$124.00 price objective on Premium Brands and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Canadian Imperial Bank of Commerce lifted their target price on Premium Brands from C$110.00 to C$115.00 in a report on Friday, May 8th. Finally, Scotia boosted their target price on Premium Brands from C$100.00 to C$110.00 and gave the company a “sector outperform” rating in a research note on Friday, May 8th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Premium Brands has a consensus rating of “Moderate Buy” and an average price target of C$116.25.

Premium Brands Price Performance

Premium Brands stock opened at C$83.80 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.16 and a debt-to-equity ratio of 163.05. The firm has a market capitalization of C$4.36 billion, a P/E ratio of 93.11, a PEG ratio of 1.10 and a beta of 0.90. The business has a 50-day moving average of C$88.25 and a 200-day moving average of C$90.84. Premium Brands has a 1 year low of C$80.24 and a 1 year high of C$106.79.

Premium Brands (TSE:PBH) last announced its quarterly earnings results on Thursday, August 6th. The company reported C$1.53 earnings per share for the quarter. Premium Brands had a net margin of 0.52% and a return on equity of 2.21%. The business had revenue of C$2.38 billion for the quarter. On average, equities analysts anticipate that Premium Brands will post 6.039823 EPS for the current year.

Premium Brands News Roundup

Here are the key news stories impacting Premium Brands this week:

• Positive Sentiment: Premium Brands reported record second-quarter sales, adjusted EBITDA and adjusted earnings, and declared a third-quarter dividend. The company separately reported quarterly revenue of C$2.38 billion and EPS of C$1.53. Premium Brands second-quarter results
• Positive Sentiment: Several analysts retained constructive ratings following the results. ATB Cormark and TD maintained “outperform” or “buy” views with C$130 targets, while RBC kept an “outperform” rating and a C$120 target. Other retained positive ratings included Ventum, Desjardins and Stifel. Analyst rating changes
• Neutral Sentiment: Even after the revisions, the published targets imply approximately 16.9% to 55.1% potential upside from the reported C$83.84 share price, suggesting analysts still view the stock as undervalued if earnings growth and profitability improve.
• Negative Sentiment: Every listed analyst lowered its price target: Canaccord Genuity to C$117, National Bank to C$98, Scotia to C$105, BMO to C$111, ATB Cormark to C$130, Ventum to C$127, CIBC to C$100, RBC to C$120, TD to C$130, Desjardins to C$110 and Stifel to C$105. The widespread reductions signal more cautious expectations despite the remaining bullish ratings. Premium Brands analyst revisions

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.