Canadian Imperial Bank of Commerce Issues Pessimistic Forecast for Premium Brands (TSE:PBH) Stock Price

Premium Brands (TSE:PBH) had its price target decreased by equities researchers at Canadian Imperial Bank of Commerce from C$120.00 to C$110.00 in a note issued to investors on Friday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s target price would suggest a potential upside of 27.67% from the company’s current price.

Other analysts also recently issued reports about the company. Scotiabank upgraded Premium Brands from a “hold” rating to an “outperform” rating and increased their price objective for the company from C$99.00 to C$120.00 in a report on Thursday, December 18th. Stifel Nicolaus lifted their target price on shares of Premium Brands from C$106.00 to C$111.00 in a research note on Thursday, December 18th. TD Securities boosted their target price on shares of Premium Brands from C$145.00 to C$160.00 in a report on Thursday, December 18th. BMO Capital Markets increased their price target on Premium Brands from C$111.00 to C$125.00 in a report on Thursday, December 18th. Finally, Desjardins set a C$120.00 price objective on Premium Brands and gave the stock a “buy” rating in a research report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Premium Brands presently has an average rating of “Buy” and a consensus target price of C$117.82.

Premium Brands Trading Down 1.0%

Shares of PBH traded down C$0.89 during trading hours on Friday, hitting C$86.16. 173,134 shares of the stock traded hands, compared to its average volume of 127,082. The business has a fifty day moving average of C$99.33 and a 200-day moving average of C$97.05. The firm has a market capitalization of C$3.85 billion, a PE ratio of 58.61, a price-to-earnings-growth ratio of 1.10 and a beta of 0.51. Premium Brands has a 1-year low of C$72.57 and a 1-year high of C$106.79. The company has a current ratio of 1.33, a quick ratio of 1.16 and a debt-to-equity ratio of 201.70.

Premium Brands (TSE:PBH) last posted its earnings results on Thursday, March 19th. The company reported C$1.29 earnings per share for the quarter. The firm had revenue of C$1.90 billion for the quarter. Premium Brands had a return on equity of 3.82% and a net margin of 0.92%. Analysts expect that Premium Brands will post 6.039823 EPS for the current year.

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.