Premium Brands (PBH) PT Raised to C$119.00

Premium Brands (TSE:PBH) had its target price raised by equities research analysts at Scotiabank from C$115.00 to C$119.00 in a note issued to investors on Wednesday. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 0.77% from the company’s previous close.

A number of other research analysts also recently weighed in on PBH. Royal Bank of Canada raised their price objective on Premium Brands from C$139.00 to C$142.00 and gave the company an “outperform” rating in a research note on Wednesday. CIBC raised their price objective on Premium Brands from C$128.00 to C$141.00 in a research note on Wednesday, May 9th. TD Securities raised their price objective on Premium Brands from C$140.00 to C$145.00 and gave the company an “action list buy” rating in a research note on Thursday, May 3rd. BMO Capital Markets raised their price objective on Premium Brands from C$134.00 to C$138.00 in a research note on Thursday, May 3rd. Finally, National Bank Financial raised their price objective on Premium Brands from C$115.00 to C$125.00 and gave the company an “outperform” rating in a research note on Friday, March 16th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of C$132.14.

PBH opened at C$118.09 on Wednesday. Premium Brands has a fifty-two week low of C$88.69 and a fifty-two week high of C$122.77.

Premium Brands (TSE:PBH) last issued its quarterly earnings data on Thursday, March 15th. The company reported C$0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.86 by C($0.25). Premium Brands had a net margin of 3.82% and a return on equity of 19.68%. The company had revenue of C$585.40 million during the quarter, compared to the consensus estimate of C$611.90 million.

In other Premium Brands news, Director Stephen Sposari sold 5,800 shares of Premium Brands stock in a transaction that occurred on Monday, March 19th. The stock was sold at an average price of C$110.77, for a total value of C$642,466.00. Also, Director John Stephen Beliveau sold 5,000 shares of Premium Brands stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of C$119.52, for a total value of C$597,600.00.

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 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.

Analyst Recommendations for Premium Brands (TSE:PBH)

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