Premium Brands (TSE:PBH) Price Target Lowered to C$130.00 at TD

Premium Brands (TSE:PBH) had its price target lowered by TD from C$140.00 to C$130.00 in a research note released on Friday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also weighed in on PBH. Royal Bank Of Canada upped their price target on shares of Premium Brands from C$129.00 to C$131.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Ventum Capital raised their price objective on shares of Premium Brands from C$124.00 to C$128.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Scotia boosted their target price on Premium Brands from C$100.00 to C$110.00 and gave the stock a “sector outperform” rating in a report on Friday, May 8th. Stifel Nicolaus set a C$117.00 target price on Premium Brands and gave the stock a “buy” rating in a research report on Monday, July 20th. Finally, Canadian Imperial Bank of Commerce increased their price target on Premium Brands from C$110.00 to C$115.00 in a research note on Friday, May 8th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$116.25.

Premium Brands Price Performance

Shares of TSE PBH opened at C$83.80 on Friday. Premium Brands has a fifty-two week low of C$80.24 and a fifty-two week high of C$106.79. The firm’s 50-day simple moving average is C$88.25 and its 200 day simple moving average is C$90.84. The company has a quick ratio of 1.16, a current ratio of 1.28 and a debt-to-equity ratio of 163.05. The stock has a market cap of C$4.36 billion, a P/E ratio of 93.11, a P/E/G ratio of 1.10 and a beta of 0.90.

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

Key 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

Premium Brands Company Profile

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.