Premium Brands (TSE:PBH) Price Target Lowered to C$120.00 at Royal Bank Of Canada

Premium Brands (TSE:PBH) had its price objective trimmed by Royal Bank Of Canada from C$131.00 to C$120.00 in a research report report published on Friday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts also recently issued reports on the company. Canaccord Genuity Group dropped their price target on Premium Brands from C$123.00 to C$117.00 in a research report on Friday. BMO Capital Markets lowered their target price on shares of Premium Brands from C$118.00 to C$111.00 in a research note on Friday. Ventum Financial set a C$124.00 target price on shares of Premium Brands and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Ventum Capital lifted their price objective 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, TD cut their target price on shares of Premium Brands from C$140.00 to C$130.00 and set a “buy” rating for the company in a research report on Friday. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$116.25.

Premium Brands Stock Up 3.1%

Shares of TSE:PBH opened at C$83.80 on Friday. The firm has a fifty day moving average price of C$88.25 and a two-hundred day moving average price of C$90.84. The company has a market cap of C$4.36 billion, a price-to-earnings ratio of 93.11, 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. Premium Brands has a one year low of C$80.24 and a one year high of C$106.79.

Premium Brands (TSE:PBH) last issued its quarterly earnings data on Thursday, August 6th. The company reported C$1.53 earnings per share (EPS) for the quarter. Premium Brands had a return on equity of 2.21% and a net margin of 0.52%.The company had revenue of C$2.38 billion for the quarter. Analysts anticipate that Premium Brands will post 6.039823 EPS for the current fiscal year.

Premium Brands News Summary

Here are the key news stories impacting Premium Brands this week:

• Positive Sentiment: Premium Brands reported record second-quarter sales, adjusted EBITDA and adjusted earnings, and declared a third-quarter dividend. The company separately reported quarterly revenue of C$2.38 billion and EPS of C$1.53. Premium Brands second-quarter results
• Positive Sentiment: Several analysts retained constructive ratings following the results. ATB Cormark and TD maintained “outperform” or “buy” views with C$130 targets, while RBC kept an “outperform” rating and a C$120 target. Other retained positive ratings included Ventum, Desjardins and Stifel. Analyst rating changes
• Neutral Sentiment: Even after the revisions, the published targets imply approximately 16.9% to 55.1% potential upside from the reported C$83.84 share price, suggesting analysts still view the stock as undervalued if earnings growth and profitability improve.
• Negative Sentiment: Every listed analyst lowered its price target: Canaccord Genuity to C$117, National Bank to C$98, Scotia to C$105, BMO to C$111, ATB Cormark to C$130, Ventum to C$127, CIBC to C$100, RBC to C$120, TD to C$130, Desjardins to C$110 and Stifel to C$105. The widespread reductions signal more cautious expectations despite the remaining bullish ratings. Premium Brands analyst revisions

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.