Premium Brands (TSE:PBH) Stock Passes Below 200 Day Moving Average – Here’s Why

Shares of Premium Brands Holdings Co. (TSE:PBH) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$91.34 and traded as low as C$88.98. Premium Brands shares last traded at C$91.03, with a volume of 164,462 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PBH. Royal Bank Of Canada lifted their target price on shares of Premium Brands from C$129.00 to C$131.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Scotia upped their price target on shares of Premium Brands from C$100.00 to C$110.00 and gave the company a “sector outperform” rating in a research report on Friday, May 8th. Ventum Financial set a C$124.00 price objective on shares of Premium Brands and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Ventum Capital lifted their price objective 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. Finally, Canadian Imperial Bank of Commerce lifted their price objective on shares of Premium Brands from C$110.00 to C$115.00 in a research report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$118.62.

Premium Brands Trading Up 2.3%

The stock has a market cap of C$4.90 billion, a price-to-earnings ratio of 104.76, a price-to-earnings-growth ratio of 1.10 and a beta of 0.90. 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 simple moving average is C$88.23 and its two-hundred day simple moving average is C$91.29.

Premium Brands (TSE:PBH) last issued its earnings results on Thursday, May 7th. The company reported C$0.83 earnings per share (EPS) for the quarter. Premium Brands had a net margin of 0.52% and a return on equity of 2.21%. The company had revenue of C$2.05 billion during the quarter. Research analysts expect that Premium Brands Holdings Co. will post 6.039823 EPS for the current fiscal year.

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.