Premium Brands (TSE:PBH) Price Target Raised to C$115.00 at Canadian Imperial Bank of Commerce

Premium Brands (TSE:PBH) had its target price lifted by Canadian Imperial Bank of Commerce from C$110.00 to C$115.00 in a research report released on Friday morning,BayStreet.CA reports.

A number of other equities analysts also recently commented on PBH. BMO Capital Markets decreased their target price on Premium Brands from C$125.00 to C$116.00 in a report on Friday, March 20th. National Bank Financial decreased their target price on Premium Brands from C$115.00 to C$108.00 and set a “sector perform” rating for the company in a report on Friday, March 20th. 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. Desjardins set a C$120.00 target price on Premium Brands and gave the company a “buy” rating in a report on Friday, March 20th. Finally, Scotiabank decreased their target price on Premium Brands from C$120.00 to C$100.00 and set an “outperform” rating for the company in a report on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of C$118.62.

Premium Brands Stock Performance

Shares of PBH stock opened at C$89.85 on Friday. The company has a debt-to-equity ratio of 206.42, a quick ratio of 1.16 and a current ratio of 1.23. Premium Brands has a fifty-two week low of C$78.53 and a fifty-two week high of C$106.79. The stock has a 50 day moving average price of C$89.14 and a two-hundred day moving average price of C$94.85. The company has a market capitalization of C$4.67 billion, a P/E ratio of 99.83, a PEG ratio of 1.10 and a beta of 0.80.

Premium Brands (TSE:PBH) last announced its quarterly earnings data on Thursday, May 7th. The company reported C$0.83 earnings per share for the quarter. Premium Brands had a return on equity of 2.38% and a net margin of 0.54%.The firm had revenue of C$2.05 billion during the quarter. Analysts expect that Premium Brands will post 6.039823 earnings per share for the current year.

Key Headlines Impacting Premium Brands

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

• Positive Sentiment: Scotia raised its price target on Premium Brands (PBH) to C$110 from C$100 and reiterated a “sector outperform” rating, signaling confidence in further upside. Scotia price target raise
• Positive Sentiment: Royal Bank of Canada increased its target to C$131 from C$129 and kept an “outperform” rating, one of the most bullish calls among the recent updates. RBC price target raise
• Positive Sentiment: Ventum Capital lifted its target to C$128 from C$124 and maintained a “buy” rating, adding to the positive analyst momentum around the stock. Ventum price target raise
• Positive Sentiment: Stifel Nicolaus raised its target to C$117 from C$112 and reiterated a “buy” rating, suggesting continued expectations for solid performance. Stifel price target raise
• Positive Sentiment: Canadian Imperial Bank of Commerce increased its target to C$115 from C$110, reflecting a more constructive outlook after the company’s earnings update. CIBC price target raise
• Neutral Sentiment: Premium Brands reported first-quarter EPS of C$0.83 on revenue of C$2.05 billion, alongside a press release describing record first-quarter sales, adjusted EBITDA and adjusted earnings, plus a declared second-quarter dividend. Q1 results and dividend

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.