Premium Brands (TSE:PBH) had its price target boosted by CIBC from C$76.00 to C$84.00 in a report issued on Friday, BayStreet.CA reports. CIBC’s price objective would indicate a potential downside of 0.31% from the company’s previous close.
Several other brokerages have also issued reports on PBH. TD Securities increased their price objective on Premium Brands from C$93.00 to C$96.00 and gave the stock a “buy” rating in a report on Wednesday. Cormark increased their price objective on Premium Brands from C$91.00 to C$97.00 in a report on Wednesday. Industrial Alliance Securities reiterated a “buy” rating and set a C$95.00 price objective on shares of Premium Brands in a report on Monday, January 28th. Royal Bank of Canada cut their price objective on Premium Brands from C$97.00 to C$96.00 in a report on Tuesday, May 14th. Finally, Desjardins lowered Premium Brands from a “buy” rating to a “hold” rating in a report on Tuesday, February 12th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of C$93.63.
Shares of Premium Brands stock traded down C$0.84 during midday trading on Friday, hitting C$84.26. The company’s stock had a trading volume of 42,721 shares, compared to its average volume of 126,513. The company has a quick ratio of 0.73, a current ratio of 1.70 and a debt-to-equity ratio of 187.13. Premium Brands has a 1-year low of C$66.99 and a 1-year high of C$118.49. The stock has a market cap of $3.09 billion and a PE ratio of 29.49.
In other news, Senior Officer Douglas Owen Goss acquired 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, for a total transaction of C$47,902.40. Following the completion of the acquisition, the insider now 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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