Premium Brands (TSE:PBH) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Premium Brands Holdings Co. (TSE:PBH)’s stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$84.12 and traded as low as C$77.56. Premium Brands shares last traded at C$78.34, with a volume of 64,430 shares trading hands.

Analyst Ratings Changes

PBH has been the topic of a number of recent analyst reports. TD Securities decreased their price objective on shares of Premium Brands from C$129.00 to C$120.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Stifel Nicolaus decreased their price objective on shares of Premium Brands from C$106.00 to C$101.00 in a research note on Thursday, November 7th. CIBC decreased their price objective on shares of Premium Brands from C$103.00 to C$90.00 in a research note on Thursday, November 7th. Raymond James set a C$100.00 price objective on shares of Premium Brands and gave the company an “outperform” rating in a research note on Thursday, December 19th. Finally, Royal Bank of Canada cut their target price on shares of Premium Brands from C$100.00 to C$96.00 in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$103.11.

Premium Brands Trading Down 0.4 %

The company has a market cap of C$3.49 billion, a price-to-earnings ratio of 34.87, a price-to-earnings-growth ratio of 1.10 and a beta of 0.98. The business’s fifty day moving average price is C$78.33 and its 200 day moving average price is C$84.12. The company has a debt-to-equity ratio of 163.00, a current ratio of 1.51 and a quick ratio of 1.16.

Insider Transactions at Premium Brands

In other Premium Brands news, Director Johnny Ciampi purchased 2,000 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were bought at an average price of C$78.78 per share, for a total transaction of C$157,560.00. 2.01% of the stock is owned by company insiders.

Premium Brands Company Profile

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 processed meat, deli products, meat snacks, beef jerky and halal, sandwiches, pastries, specialty and gourmet products, entrees, panini, wraps, subs, hamburgers, burgers, salads and kettle products, muffins, breads, pastas, pizza, and baking and sushi products.