Premium Brands (TSE:PBH) Price Target Lowered to C$111.00 at BMO Capital Markets

Premium Brands (TSE:PBH) had its price target trimmed by BMO Capital Markets from C$118.00 to C$111.00 in a report published on Friday,BayStreet.CA reports.

PBH has been the topic of several other research reports. Royal Bank Of Canada increased their price target on Premium Brands from C$129.00 to C$131.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Canadian Imperial Bank of Commerce upped their price objective on shares of Premium Brands from C$110.00 to C$115.00 in a report on Friday, May 8th. Scotia raised their target price on shares of Premium Brands from C$100.00 to C$110.00 and gave the company a “sector outperform” rating in a research note on Friday, May 8th. Ventum Financial set a C$124.00 target price on shares of Premium Brands and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Finally, Stifel Nicolaus set a C$117.00 target price on shares of Premium Brands and gave the stock a “buy” rating in a report on Monday, July 20th. 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$116.25.

Premium Brands Stock Performance

Shares of TSE PBH opened at C$83.80 on Friday. The company has a debt-to-equity ratio of 163.05, a quick ratio of 1.16 and a current ratio of 1.28. The firm has a market cap of C$4.36 billion, a price-to-earnings ratio of 93.11, a P/E/G ratio of 1.10 and a beta of 0.90. The business’s 50-day simple moving average is C$88.25 and its 200-day simple moving average is C$90.84. Premium Brands has a 52 week low of C$80.24 and a 52 week high of C$106.79.

Premium Brands (TSE:PBH) last posted its earnings results on Thursday, August 6th. The company reported C$1.53 earnings per share for the quarter. The firm had revenue of C$2.38 billion during the quarter. Premium Brands had a return on equity of 2.21% and a net margin of 0.52%. As a group, equities research analysts expect that Premium Brands will post 6.039823 earnings per share for the current fiscal year.

Key Headlines Impacting Premium Brands

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.