Premium Brands (TSE:PBH) Given New C$106.00 Price Target at Cormark

Premium Brands (TSE:PBH) had its price target increased by Cormark from C$97.00 to C$106.00 in a report released on Wednesday, BayStreet.CA reports. Cormark also issued estimates for Premium Brands’ FY2020 earnings at $4.40 EPS.

Other equities analysts have also recently issued reports about the stock. TD Securities boosted their price objective on shares of Premium Brands from C$96.00 to C$110.00 and gave the company a buy rating in a research note on Wednesday. Royal Bank of Canada decreased their target price on shares of Premium Brands from C$103.00 to C$102.00 and set an outperform rating on the stock in a research report on Wednesday. Desjardins upgraded shares of Premium Brands from a hold rating to a buy rating and boosted their target price for the stock from C$83.00 to C$103.00 in a research report on Wednesday, July 10th. National Bank Financial boosted their target price on shares of Premium Brands from C$96.00 to C$101.00 in a research report on Tuesday, June 25th. Finally, CIBC boosted their target price on shares of Premium Brands from C$84.00 to C$94.00 in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of C$99.67.

Shares of PBH opened at C$93.92 on Wednesday. The company has a debt-to-equity ratio of 187.13, a quick ratio of 0.73 and a current ratio of 1.70. The stock has a market capitalization of $3.47 billion and a P/E ratio of 32.84. The company’s fifty day moving average is C$93.96 and its two-hundred day moving average is C$83.08. Premium Brands has a 1 year low of C$66.99 and a 1 year high of C$103.57.

In related news, Senior Officer Douglas Owen Goss bought 560 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were bought at an average cost of C$85.54 per share, for a total transaction of C$47,902.40. Following the transaction, the insider now owns 33,541 shares of the company’s stock, valued at C$2,869,097.14.

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 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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