Premium Brands (TSE:PBH) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Premium Brands Holdings Co. (TSE:PBH) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$93.49 and traded as low as C$83.56. Premium Brands shares last traded at C$84.12, with a volume of 116,881 shares.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PBH. Raymond James Financial reduced their price target on Premium Brands from C$125.00 to C$115.00 and set an “outperform” rating for the company in a report on Friday, March 20th. Ventum Capital increased their price objective on Premium Brands from C$124.00 to C$128.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Stifel Nicolaus raised their price objective on shares of Premium Brands from C$112.00 to C$117.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Desjardins set a C$120.00 target price on shares of Premium Brands and gave the company a “buy” rating in a research note on Friday, March 20th. Finally, Scotia boosted their target price on shares of Premium Brands from C$100.00 to C$110.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Premium Brands presently has a consensus rating of “Moderate Buy” and an average price target of C$118.62.

Premium Brands Stock Up 1.7%

The business has a 50-day simple moving average of C$86.93 and a two-hundred day simple moving average of C$93.39. The company has a market cap of C$4.51 billion, a price-to-earnings ratio of 96.42, a PEG ratio of 1.10 and a beta of 0.88. 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 quarterly earnings data on Thursday, May 7th. The company reported C$0.83 EPS for the quarter. Premium Brands had a return on equity of 2.21% and a net margin of 0.52%.The business had revenue of C$2.05 billion for the quarter. As a group, equities analysts forecast that Premium Brands Holdings Co. 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.