Premium Brands (PBH) Price Target Cut to C$72.00
Premium Brands (TSE:PBH) had its target price dropped by equities researchers at CIBC from C$82.00 to C$72.00 in a report released on Friday. CIBC’s target price would indicate a potential downside of 2.04% from the stock’s current price.
Other equities research analysts have also recently issued reports about the stock. TD Securities cut their price objective on shares of Premium Brands from C$95.00 to C$94.00 and set a “buy” rating on the stock in a research report on Friday. BMO Capital Markets cut their price objective on shares of Premium Brands from C$92.00 to C$86.00 in a research report on Friday. Industrial Alliance Securities reaffirmed a “buy” rating and issued a C$95.00 price objective on shares of Premium Brands in a research report on Monday, January 28th. National Bank Financial reaffirmed an “outperform” rating and issued a C$95.00 price objective on shares of Premium Brands in a research report on Friday, January 18th. Finally, Desjardins cut shares of Premium Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, February 12th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of C$94.75.
PBH traded up C$2.74 during trading on Friday, hitting C$73.50. The company had a trading volume of 136,864 shares, compared to its average volume of 124,794. The stock has a market capitalization of $2.40 billion and a P/E ratio of 23.91. Premium Brands has a one year low of C$66.99 and a one year high of C$122.77. The company has a current ratio of 1.92, a quick ratio of 0.95 and a debt-to-equity ratio of 136.58.
Premium Brands Holdings Corporation, through its subsidiaries, manufactures and distributes food products primarily in Canada and the United States. It operates through two segments, Specialty Foods and Premium Food Distribution. The company provides premium and natural processed meat products, specialty deli products, meat snacks, beef jerky and halal, sandwiches, pastries, specialty and gourmet products, salads and kettle, entres, panini, wraps, subs, hamburgers, burgers, muffins, breads, specialty pastas, and sushi products.
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