TD Securities Increases Premium Brands (TSE:PBH) Price Target to C$110.00

Premium Brands (TSE:PBH) had its price target raised by research analysts at TD Securities from C$96.00 to C$110.00 in a research report issued on Wednesday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ price target suggests a potential upside of 18.24% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. National Bank Financial increased their price target on shares of Premium Brands from C$96.00 to C$101.00 in a research note on Tuesday, June 25th. Cormark increased their price target on shares of Premium Brands from C$91.00 to C$97.00 in a research note on Wednesday, May 22nd. Royal Bank of Canada dropped their price target on shares of Premium Brands from C$103.00 to C$102.00 and set an “outperform” rating on the stock in a research note on Wednesday. CIBC increased their price target on shares of Premium Brands from C$84.00 to C$94.00 in a research note on Thursday, August 8th. Finally, Desjardins upgraded shares of Premium Brands from a “hold” rating to a “buy” rating and increased their price target for the stock from C$83.00 to C$103.00 in a research note on Wednesday, July 10th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of C$99.67.

Shares of PBH traded up C$2.11 during mid-day trading on Wednesday, hitting C$93.03. 99,134 shares of the company’s stock were exchanged, compared to its average volume of 114,145. The firm’s fifty day simple moving average is C$93.66. Premium Brands has a twelve month low of C$66.99 and a twelve month high of C$103.57. The firm has a market capitalization of $3.37 billion and a PE ratio of 32.53. The company has a current ratio of 1.70, a quick ratio of 0.73 and a debt-to-equity ratio of 187.13.

Premium Brands (TSE:PBH) last announced its quarterly earnings results on Monday, May 13th. The company reported C$0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.47 by C$0.05. The business had revenue of C$776.60 million for the quarter, compared to analyst estimates of C$801.50 million. As a group, equities research analysts forecast that Premium Brands will post 4.6099998 EPS for the current year.

In related news, Senior Officer Douglas Owen Goss purchased 560 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were bought at an average cost of C$85.54 per share, for a total transaction of C$47,902.40. Following the transaction, the insider now directly owns 33,541 shares of the company’s stock, valued at approximately C$2,869,097.14.

About Premium Brands

Premium Brands Holdings Corporation, through its subsidiaries, manufactures and distributes food products primarily in Canada and the United States. It operates in two segments, Specialty Foods and Premium Food Distribution. The company provides meat products and snacks, deli products, beef jerky and halal, sandwiches, pastries, specialty and gourmet products, salads and kettle products, entres, panini, wraps, subs, hamburgers, burgers, muffins, breads, and baking and sushi products.

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