Premium Brands (TSE:PBH) Price Target Raised to C$110.00 at Scotia

Premium Brands (TSE:PBH) had its price target upped by Scotia from C$100.00 to C$110.00 in a research note issued to investors on Friday,BayStreet.CA reports. Scotia currently has a sector outperform rating on the stock.

Several other research firms have also recently issued reports on PBH. Scotiabank cut their target price on Premium Brands from C$120.00 to C$100.00 and set an “outperform” rating for the company in a research note on Friday, March 20th. Ventum Capital raised their target price on Premium Brands from C$124.00 to C$128.00 and gave the stock a “buy” rating in a research note on Friday. BMO Capital Markets cut their target price on Premium Brands from C$125.00 to C$116.00 in a research note on Friday, March 20th. TD Securities cut their target price on Premium Brands from C$160.00 to C$140.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. Finally, Ventum Financial set a C$124.00 target price on Premium Brands and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$118.62.

Premium Brands Price Performance

PBH stock opened at C$89.85 on Friday. The business has a fifty day moving average of C$89.14 and a two-hundred day moving average of C$94.85. The company has a quick ratio of 1.16, a current ratio of 1.23 and a debt-to-equity ratio of 206.42. The stock has a market cap of C$4.67 billion, a price-to-earnings ratio of 99.83, a price-to-earnings-growth ratio of 1.10 and a beta of 0.80. Premium Brands has a 52-week low of C$78.53 and a 52-week high of C$106.79.

Premium Brands (TSE:PBH) last posted its earnings results on Thursday, May 7th. The company reported C$0.83 earnings per share (EPS) for the quarter. The company had revenue of C$2.05 billion during the quarter. Premium Brands had a return on equity of 2.38% and a net margin of 0.54%. As a group, research analysts anticipate that Premium Brands will post 6.039823 earnings per share for the current year.

Key Headlines Impacting Premium Brands

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

• Positive Sentiment: Scotia raised its price target on Premium Brands (PBH) to C$110 from C$100 and reiterated a “sector outperform” rating, signaling confidence in further upside. Scotia price target raise
• Positive Sentiment: Royal Bank of Canada increased its target to C$131 from C$129 and kept an “outperform” rating, one of the most bullish calls among the recent updates. RBC price target raise
• Positive Sentiment: Ventum Capital lifted its target to C$128 from C$124 and maintained a “buy” rating, adding to the positive analyst momentum around the stock. Ventum price target raise
• Positive Sentiment: Stifel Nicolaus raised its target to C$117 from C$112 and reiterated a “buy” rating, suggesting continued expectations for solid performance. Stifel price target raise
• Positive Sentiment: Canadian Imperial Bank of Commerce increased its target to C$115 from C$110, reflecting a more constructive outlook after the company’s earnings update. CIBC price target raise
• Neutral Sentiment: Premium Brands reported first-quarter EPS of C$0.83 on revenue of C$2.05 billion, alongside a press release describing record first-quarter sales, adjusted EBITDA and adjusted earnings, plus a declared second-quarter dividend. Q1 results and dividend

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.