Premium Brands (TSE:PBH) Hits New 1-Year High – Here’s Why

Premium Brands Holdings Co. (TSE:PBH) reached a new 52-week high during trading on Wednesday . The company traded as high as C$104.59 and last traded at C$104.44, with a volume of 61506 shares changing hands. The stock had previously closed at C$104.55.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Canadian Imperial Bank of Commerce upped their price target on shares of Premium Brands from C$115.00 to C$120.00 in a research note on Thursday, December 18th. Raymond James Financial upped their target price on shares of Premium Brands from C$115.00 to C$125.00 in a research report on Thursday, December 18th. Royal Bank Of Canada increased their price target on shares of Premium Brands from C$108.00 to C$118.00 in a report on Tuesday, November 4th. Desjardins set a C$120.00 price objective on Premium Brands and gave the stock a “buy” rating in a research note on Friday, December 19th. Finally, TD Securities upped their price objective on Premium Brands from C$145.00 to C$160.00 in a research report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$121.64.

Premium Brands Stock Down 0.2%

The firm has a market cap of C$4.66 billion, a PE ratio of 70.99, a price-to-earnings-growth ratio of 1.10 and a beta of 0.12. The company has a 50-day simple moving average of C$99.60 and a 200-day simple moving average of C$96.10. The company has a debt-to-equity ratio of 163.00, a current ratio of 1.51 and a quick ratio of 1.16.

About Premium Brands

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.