Premium Brands (TSE:PBH) Price Target Lowered to C$130.00 at ATB Cormark Capital Markets

Premium Brands (TSE:PBH) had its price target cut by investment analysts at ATB Cormark Capital Markets from C$150.00 to C$130.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price objective suggests a potential upside of 54.87% from the company’s previous close.

A number of other equities analysts have also recently weighed in on PBH. Scotia decreased their price objective on Premium Brands from C$110.00 to C$105.00 and set a “sector outperform” rating on the stock in a report on Friday. 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. Stifel Nicolaus set a C$117.00 price target on shares of Premium Brands and gave the company a “buy” rating in a research report on Monday, July 20th. BMO Capital Markets decreased their price target on shares of Premium Brands from C$118.00 to C$111.00 in a research note on Friday. Finally, Desjardins lowered their price objective on shares of Premium Brands from C$120.00 to C$110.00 and set a “buy” rating for the company in a report on Friday. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$116.25.

Premium Brands Price Performance

TSE:PBH traded up C$2.65 during midday trading on Friday, hitting C$83.94. The company had a trading volume of 285,706 shares, compared to its average volume of 169,553. The company has a market capitalization of C$4.36 billion, a PE ratio of 93.27, a P/E/G ratio of 1.10 and a beta of 0.90. 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 has a 52-week low of C$80.24 and a 52-week high of C$106.79. The stock’s fifty day moving average price is C$88.40 and its 200-day moving average price is C$90.89.

Premium Brands (TSE:PBH) last released its quarterly earnings results on Thursday, August 6th. The company reported C$1.53 earnings per share 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$2.38 billion for the quarter. As a group, research analysts expect that Premium Brands will post 6.039823 earnings per share for the current 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.