Premium Brands (TSE:PBH) Price Target Cut to C$110.00 by Analysts at Canadian Imperial Bank of Commerce

Premium Brands (TSE:PBH) had its target price reduced by analysts at Canadian Imperial Bank of Commerce from C$120.00 to C$110.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price objective points to a potential upside of 27.67% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Desjardins set a C$120.00 price objective on Premium Brands and gave the company a “buy” rating in a research note on Friday, December 19th. TD Securities raised their target price on shares of Premium Brands from C$145.00 to C$160.00 in a report on Thursday, December 18th. Raymond James Financial increased their price target on Premium Brands from C$115.00 to C$125.00 in a research note on Thursday, December 18th. BMO Capital Markets boosted their price objective on Premium Brands from C$111.00 to C$125.00 in a research note on Thursday, December 18th. Finally, Scotiabank upgraded Premium Brands from a “hold” rating to an “outperform” rating and upped their price objective for the company from C$99.00 to C$120.00 in a report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$117.82.

Premium Brands Trading Down 1.0%

Shares of PBH traded down C$0.89 during mid-day trading on Friday, hitting C$86.16. The company had a trading volume of 173,134 shares, compared to its average volume of 127,082. Premium Brands has a 1-year low of C$72.57 and a 1-year high of C$106.79. The business’s 50-day simple moving average is C$99.33 and its 200-day simple moving average is C$97.05. The stock has a market cap of C$3.85 billion, a PE ratio of 58.61, a P/E/G ratio of 1.10 and a beta of 0.51. The company has a quick ratio of 1.16, a current ratio of 1.33 and a debt-to-equity ratio of 201.70.

Premium Brands (TSE:PBH) last released its quarterly earnings data on Thursday, March 19th. The company reported C$1.29 earnings per share for the quarter. Premium Brands had a return on equity of 3.82% and a net margin of 0.92%.The business had revenue of C$1.90 billion for the quarter. Sell-side analysts forecast 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.