Premier Foods (LON:PFD) Share Price Passes Above 200 Day Moving Average – What’s Next?

Premier Foods plc (LON:PFD) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 182.36 and traded as high as GBX 200. Premier Foods shares last traded at GBX 193.04, with a volume of 923,979 shares traded.

Wall Street Analysts Forecast Growth

PFD has been the topic of several research reports. Peel Hunt restated a “buy” rating and issued a GBX 230 price target on shares of Premier Foods in a research note on Thursday, November 13th. Berenberg Bank restated a “buy” rating and set a GBX 280 target price on shares of Premier Foods in a research report on Thursday, January 22nd. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 230 target price on shares of Premier Foods in a report on Thursday, January 22nd. Finally, Shore Capital Group reiterated a “house stock” rating on shares of Premier Foods in a research report on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, Premier Foods has a consensus rating of “Buy” and an average target price of GBX 245.

Premier Foods Price Performance

The firm’s 50-day moving average price is GBX 179.75 and its 200 day moving average price is GBX 182.36. The company has a current ratio of 1.14, a quick ratio of 0.41 and a debt-to-equity ratio of 25.47. The company has a market capitalization of £1.67 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 1.44 and a beta of 1.08.

Insider Activity at Premier Foods

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