CIBC Lowers Premium Brands (TSE:PBH) Price Target to C$90.00

Premium Brands (TSE:PBH) had its target price reduced by CIBC from C$103.00 to C$90.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. CIBC’s target price would indicate a potential upside of 16.43% from the stock’s current price.

Several other equities research analysts also recently commented on PBH. TD Securities reduced their price target on shares of Premium Brands from C$129.00 to C$120.00 and set a “buy” rating for the company in a research report on Thursday. Stifel Nicolaus reduced their target price on Premium Brands from C$106.00 to C$101.00 in a report on Thursday. National Bankshares raised their target price on Premium Brands from C$101.00 to C$109.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 24th. Royal Bank of Canada dropped their price target on Premium Brands from C$100.00 to C$96.00 in a research report on Thursday. Finally, BMO Capital Markets decreased their price objective on Premium Brands from C$111.00 to C$94.00 in a research report on Thursday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Premium Brands has an average rating of “Moderate Buy” and a consensus price target of C$108.30.

Premium Brands Price Performance

Shares of PBH traded down C$0.91 during trading hours on Thursday, hitting C$77.30. 118,929 shares of the company were exchanged, compared to its average volume of 51,194. The firm has a fifty day simple moving average of C$91.17 and a 200-day simple moving average of C$90.54. The company has a market capitalization of C$3.43 billion, a PE ratio of 30.43, a PEG ratio of 1.10 and a beta of 0.98. The company has a debt-to-equity ratio of 161.28, a current ratio of 1.56 and a quick ratio of 1.16. Premium Brands has a one year low of C$75.67 and a one year high of C$97.28.

Premium Brands (TSE:PBH) last issued its quarterly earnings results on Wednesday, November 6th. The company reported C$1.11 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.36 by C($0.25). Premium Brands had a return on equity of 6.43% and a net margin of 1.78%. During the same period in the previous year, the firm posted $1.27 earnings per share. As a group, sell-side analysts predict that Premium Brands will post 6.039823 earnings per share for the current year.

Insider Activity at Premium Brands

In other news, Senior Officer William Dion Kalutycz sold 7,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of C$86.30, for a total transaction of C$604,100.00. 2.01% of the stock is currently owned by company insiders.

Premium Brands Company Profile

Premium Brands Holdings Corporation, through its subsidiaries, manufactures and distributes food products primarily in Canada and the United States. It operates in two segments, Specialty Foods and Premium Food Distribution. The company provides processed meat, deli products, meat snacks, beef jerky and halal, sandwiches, pastries, specialty and gourmet products, entrees, panini, wraps, subs, hamburgers, burgers, salads and kettle products, muffins, breads, pastas, pizza, and baking and sushi products.