Premier Foods (LON:PFD) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Premier Foods plc (LON:PFD) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 182.70 and traded as high as GBX 200.18. Premier Foods shares last traded at GBX 199.20, with a volume of 557,169 shares changing hands.

Analyst Ratings Changes

Several brokerages have commented on PFD. Jefferies Financial Group reiterated a “buy” rating and set a GBX 230 price target on shares of Premier Foods in a report on Thursday, January 22nd. Berenberg Bank reiterated a “buy” rating and issued a GBX 280 target price on shares of Premier Foods in a research note on Thursday, January 22nd. Shore Capital Group reiterated a “house stock” rating on shares of Premier Foods in a report on Wednesday, January 21st. Finally, Peel Hunt restated a “buy” rating and set a GBX 230 price target on shares of Premier Foods in a report on Thursday, November 13th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Premier Foods currently has a consensus rating of “Buy” and an average target price of GBX 245.

Premier Foods Price Performance

The firm has a market cap of £1.72 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 1.44 and a beta of 1.08. The stock’s 50-day moving average is GBX 182.44 and its 200-day moving average is GBX 182.70. The company has a quick ratio of 0.41, a current ratio of 1.14 and a debt-to-equity ratio of 25.47.

Insider Transactions at Premier Foods

In related news, insider Duncan Leggett bought 3,751 shares of Premier Foods stock in a transaction that occurred on Monday, February 2nd. The stock was acquired at an average price of GBX 85 per share, for a total transaction of £3,188.35. Also, insider Alex Whitehouse sold 473,186 shares of Premier Foods stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of GBX 186, for a total value of £880,125.96. 1.67% of the stock is currently owned by corporate insiders.

About Premier Foods

Premier Foods plc, together with its subsidiaries, manufactures and distributes branded and own label food products in the United Kingdom, other European countries, and internationally. The company operates through Grocery, Sweet Treats, and international segments. It offers a portfolio of product categories, including flavorings and seasonings under the Bisto, OXO, Paxo, and Saxa brands; cooking sauces and accompaniments under the Sharwood's, Loyd Grossman, Spice Tailor and Homepride brands; quick meals, snacks, and soups under the Batchelors and Smash brands; ambient desserts under the Ambrosia, Bird's, and Angel Delight brands; and ambient cakes under the Mr Kipling and Cadbury brands.