Premier Foods (LON:PFD) Price Target Raised to GBX 280

Premier Foods (LON:PFD) had its price target boosted by Berenberg Bank from GBX 270 to GBX 280 in a report released on Friday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also issued reports on PFD. Peel Hunt reissued a “buy” rating and set a GBX 230 target price on shares of Premier Foods in a research note on Thursday. Shore Capital reissued a “house stock” rating on shares of Premier Foods in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Premier Foods from GBX 230 to GBX 240 and gave the stock a “buy” rating in a research note on Thursday, August 21st. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Premier Foods currently has a consensus rating of “Buy” and a consensus target price of GBX 250.

Premier Foods Trading Up 1.6%

LON PFD traded up GBX 2.70 during trading on Friday, hitting GBX 173.80. The stock had a trading volume of 1,207,146 shares, compared to its average volume of 2,760,931. Premier Foods has a one year low of GBX 168 and a one year high of GBX 216.50. The stock has a 50 day simple moving average of GBX 184.07 and a 200 day simple moving average of GBX 192.64. The stock has a market capitalization of £1.50 billion, a price-to-earnings ratio of 12.33, a P/E/G ratio of 1.44 and a beta of 1.08. The company has a debt-to-equity ratio of 25.47, a quick ratio of 0.41 and a current ratio of 1.14.

Premier Foods (LON:PFD) last issued its quarterly earnings results on Thursday, November 13th. The company reported GBX 5.40 earnings per share (EPS) for the quarter. Premier Foods had a return on equity of 8.49% and a net margin of 9.89%. Sell-side analysts predict that Premier Foods will post 13.2607117 earnings per share for the current year.

Insiders Place Their Bets

In other Premier Foods news, insider Tim Elliott bought 1,000 shares of the company’s stock in a transaction on Thursday, September 18th. The shares were bought at an average cost of GBX 187 per share, for a total transaction of £1,870. 1.62% of the stock is currently owned by company insiders.

About Premier Foods

Premier Foods plc, together with its subsidiaries, manufactures and distributes branded and own label food products in the United Kingdom, other European countries, and internationally. The company operates through Grocery, Sweet Treats, and international segments. It offers a portfolio of product categories, including flavorings and seasonings under the Bisto, OXO, Paxo, and Saxa brands; cooking sauces and accompaniments under the Sharwood's, Loyd Grossman, Spice Tailor and Homepride brands; quick meals, snacks, and soups under the Batchelors and Smash brands; ambient desserts under the Ambrosia, Bird's, and Angel Delight brands; and ambient cakes under the Mr Kipling and Cadbury brands.