Canaccord Genuity Group Issues Pessimistic Forecast for Premium Brands (TSE:PBH) Stock Price

Premium Brands (TSE:PBH) had its price target reduced by equities researchers at Canaccord Genuity Group from C$123.00 to C$117.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Canaccord Genuity Group’s target price would indicate a potential upside of 39.39% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Ventum Capital upped their price target on shares of Premium Brands from C$124.00 to C$128.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Ventum Financial set a C$124.00 target price on shares of Premium Brands and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Stifel Nicolaus set a C$117.00 target price on shares of Premium Brands and gave the stock a “buy” rating in a research report on Monday, July 20th. Royal Bank Of Canada raised their price target on shares of Premium Brands from C$129.00 to C$131.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, TD cut their price target on Premium Brands from C$140.00 to C$130.00 and set a “buy” rating on the stock in a report on Friday. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$116.25.

Premium Brands Stock Performance

Shares of Premium Brands stock traded up C$2.65 on Friday, reaching C$83.94. 285,706 shares of the company were exchanged, compared to its average volume of 169,553. The firm has a market cap of C$4.36 billion, a price-to-earnings ratio of 93.27, a P/E/G ratio of 1.10 and a beta of 0.90. Premium Brands has a 1-year low of C$80.24 and a 1-year high of C$106.79. The company has a debt-to-equity ratio of 163.05, a quick ratio of 1.16 and a current ratio of 1.28. The company’s 50-day moving average is C$88.40 and its two-hundred day moving average is C$90.89.

Premium Brands (TSE:PBH) last released its quarterly earnings data on Thursday, August 6th. The company reported C$1.53 earnings per share (EPS) for the quarter. The business had revenue of C$2.38 billion during the quarter. Premium Brands had a return on equity of 2.21% and a net margin of 0.52%. As a group, 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.