Canadian Imperial Bank of Commerce Has Lowered Expectations for Premium Brands (TSE:PBH) Stock Price

Premium Brands (TSE:PBH) had its price objective reduced by Canadian Imperial Bank of Commerce from C$115.00 to C$100.00 in a report released on Friday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s target price indicates a potential upside of 19.13% from the company’s previous close.

Several other equities research analysts also recently issued reports on the company. TD dropped their target price on Premium Brands from C$140.00 to C$130.00 and set a “buy” rating on the stock in a research report on Friday. BMO Capital Markets dropped their price objective on Premium Brands from C$118.00 to C$111.00 in a report on Friday. Ventum Financial set a C$124.00 target price on Premium Brands and gave the company a “buy” rating in a report on Wednesday, April 22nd. Ventum Capital increased their price target on shares of Premium Brands from C$124.00 to C$128.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Scotia raised their price objective 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. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$116.25.

Premium Brands Stock Performance

Shares of PBH traded up C$2.65 during trading hours on Friday, hitting C$83.94. The company’s stock had a trading volume of 285,706 shares, compared to its average volume of 169,553. The company has a market cap of C$4.36 billion, a price-to-earnings ratio of 93.27, a PEG ratio of 1.10 and a beta of 0.90. The company has a debt-to-equity ratio of 163.05, a current ratio of 1.28 and a quick ratio of 1.16. The business has a 50 day simple moving average of C$88.40 and a two-hundred day simple moving average of C$90.89. Premium Brands has a 52-week low of C$80.24 and a 52-week high of C$106.79.

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