TD Securities Boosts Premium Brands (TSE:PBH) Price Target to C$110.00
Premium Brands (TSE:PBH) had its target price boosted by stock analysts at TD Securities from C$96.00 to C$110.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ price objective suggests a potential upside of 18.24% from the company’s current price.
Several other research analysts have also recently issued reports on the stock. National Bank Financial increased their price objective on shares of Premium Brands from C$96.00 to C$101.00 in a report on Tuesday, June 25th. Cormark increased their price objective on shares of Premium Brands from C$91.00 to C$97.00 in a report on Wednesday, May 22nd. Desjardins upgraded shares of Premium Brands from a “hold” rating to a “buy” rating and increased their price objective for the company from C$83.00 to C$103.00 in a report on Wednesday, July 10th. Royal Bank of Canada decreased their price objective on shares of Premium Brands from C$103.00 to C$102.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, CIBC increased their price objective on shares of Premium Brands from C$84.00 to C$94.00 in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Premium Brands currently has a consensus rating of “Buy” and a consensus target price of C$99.67.
Shares of Premium Brands stock traded up C$2.11 on Wednesday, hitting C$93.03. The company had a trading volume of 99,134 shares, compared to its average volume of 114,145. The business has a 50-day simple moving average of C$93.66. The company has a current ratio of 1.70, a quick ratio of 0.73 and a debt-to-equity ratio of 187.13. The stock has a market cap of $3.37 billion and a P/E ratio of 32.53. Premium Brands has a 52 week low of C$66.99 and a 52 week high of C$103.57.
In other Premium Brands news, Senior Officer Douglas Owen Goss bought 560 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was acquired at an average cost of C$85.54 per share, with a total value of C$47,902.40. Following the completion of the purchase, the insider now directly owns 33,541 shares in the company, valued at C$2,869,097.14.
About Premium Brands
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 meat products and snacks, deli products, beef jerky and halal, sandwiches, pastries, specialty and gourmet products, salads and kettle products, entres, panini, wraps, subs, hamburgers, burgers, muffins, breads, and baking and sushi products.
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