BMO Capital Markets Cuts Premium Brands (TSE:PBH) Price Target to C$116.00

Premium Brands (TSE:PBH) had its price target reduced by BMO Capital Markets from C$125.00 to C$116.00 in a report issued on Friday,BayStreet.CA reports. BMO Capital Markets’ price target would indicate a potential upside of 34.63% from the company’s previous close.

A number of other research analysts have also issued reports on the company. Scotiabank upgraded Premium Brands from a “hold” rating to an “outperform” rating and boosted their price target for the stock from C$99.00 to C$120.00 in a research report on Thursday, December 18th. Stifel Nicolaus lifted their price objective on shares of Premium Brands from C$106.00 to C$111.00 in a research note on Thursday, December 18th. Desjardins set a C$120.00 price objective on shares of Premium Brands and gave the stock a “buy” rating in a report on Friday, December 19th. Raymond James Financial increased their target price on shares of Premium Brands from C$115.00 to C$125.00 in a research report on Thursday, December 18th. Finally, Canadian Imperial Bank of Commerce cut their price target on shares of Premium Brands from C$120.00 to C$110.00 in a report on Friday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Premium Brands presently has a consensus rating of “Buy” and a consensus price target of C$117.82.

Premium Brands Stock Performance

TSE:PBH traded down C$0.89 during mid-day trading on Friday, hitting C$86.16. The stock had a trading volume of 173,134 shares, compared to its average volume of 127,082. The company has a current ratio of 1.33, a quick ratio of 1.16 and a debt-to-equity ratio of 201.70. The company has a 50 day simple moving average of C$99.33 and a 200-day simple moving average of C$97.05. The stock has a market capitalization of C$3.85 billion, a price-to-earnings ratio of 58.61, a P/E/G ratio of 1.10 and a beta of 0.51. Premium Brands has a 52 week low of C$72.57 and a 52 week high of C$106.79.

Premium Brands (TSE:PBH) last announced its quarterly earnings results on Thursday, March 19th. The company reported C$1.29 EPS for the quarter. Premium Brands had a net margin of 0.92% and a return on equity of 3.82%. The company had revenue of C$1.90 billion for the quarter. On average, research analysts expect that Premium Brands will post 6.039823 earnings per share for the current fiscal 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.