Premium Brands (TSE:PBH) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Premium Brands Holdings Co. (TSE:PBH)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$96.51 and traded as low as C$81.76. Premium Brands shares last traded at C$82.94, with a volume of 179,990 shares trading hands.

Analyst Upgrades and Downgrades

PBH has been the topic of a number of research analyst reports. Scotiabank cut their price target on shares of Premium Brands from C$120.00 to C$100.00 and set an “outperform” rating on the stock in a report on Friday, March 20th. Canadian Imperial Bank of Commerce lowered their price objective on shares of Premium Brands from C$120.00 to C$110.00 in a research report on Friday, March 20th. Desjardins set a C$120.00 target price on shares of Premium Brands and gave the company a “buy” rating in a research note on Friday, March 20th. TD Securities reduced their target price on shares of Premium Brands from C$160.00 to C$140.00 and set a “buy” rating for the company in a research report on Monday, March 23rd. Finally, Stifel Nicolaus raised their price target on shares of Premium Brands from C$106.00 to C$111.00 in a research note on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$115.60.

Premium Brands Stock Performance

The company’s fifty day moving average is C$96.41 and its 200 day moving average is C$96.42. The company has a market capitalization of C$4.30 billion, a P/E ratio of 91.90, a P/E/G ratio of 1.10 and a beta of 0.51. The company has a current ratio of 1.23, a quick ratio of 1.16 and a debt-to-equity ratio of 206.42.

Premium Brands (TSE:PBH) last issued its earnings results on Thursday, March 19th. The company reported C$1.29 earnings per share (EPS) for the quarter. The business had revenue of C$1.90 billion for the quarter. Premium Brands had a net margin of 0.54% and a return on equity of 2.38%. As a group, equities analysts anticipate that Premium Brands Holdings Co. will post 6.039823 earnings per share for the current year.

About Premium Brands

Premium Brands Holdings Corp is engaged in specialty food manufacturing, premium food distribution, and wholesale businesses with operations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nevada, and Washington State. The company’s business segments include Specialty Foods, Premium Food Distribution, and Corporate. The Specialty Foods segment consists of its specialty food manufacturing businesses, which contributes about two-thirds of the group revenue; the Premium Food Distribution segment consists of the company’s distribution and wholesale businesses; the Corporate segment includes the company’s head office activities along with its finance and information systems.