Premium Brands (TSE:PBH) Price Target Cut to C$110.00 by Analysts at Desjardins

Premium Brands (TSE:PBH) had its target price reduced by Desjardins from C$120.00 to C$110.00 in a research note released on Friday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued reports about the company. Stifel Nicolaus set a C$117.00 price target on Premium Brands and gave the stock a “buy” rating in a research note on Monday, July 20th. TD reduced their price objective on Premium Brands from C$140.00 to C$130.00 and set a “buy” rating for the company in a research report on Friday. BMO Capital Markets lowered their target price on Premium Brands from C$118.00 to C$111.00 in a report on Friday. Scotia increased their target price on Premium Brands from C$100.00 to C$110.00 and gave the company a “sector outperform” rating in a report on Friday, May 8th. Finally, Canadian Imperial Bank of Commerce dropped their target price on Premium Brands from C$115.00 to C$100.00 in a research report on Friday. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$116.25.

Premium Brands Stock Up 3.1%

Shares of Premium Brands stock opened at C$83.80 on Friday. The company has a market cap of C$4.36 billion, a price-to-earnings ratio of 93.11, a price-to-earnings-growth ratio of 1.10 and a beta of 0.90. The company’s 50 day moving average is C$88.25 and its 200 day moving average is C$90.84. Premium Brands has a twelve month low of C$80.24 and a twelve month high of C$106.79. The company has a quick ratio of 1.16, a current ratio of 1.28 and a debt-to-equity ratio of 163.05.

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

More Premium Brands News

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.