Premium Brands (TSE:PBH) Price Target Lowered to C$98.00 at National Bank Financial

Premium Brands (TSE:PBH) had its price objective trimmed by National Bank Financial from C$108.00 to C$98.00 in a report issued on Friday,BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

Several other research firms also recently weighed in on PBH. BMO Capital Markets dropped their price target on Premium Brands from C$118.00 to C$111.00 in a research note on Friday. TD decreased their target price on Premium Brands from C$140.00 to C$130.00 and set a “buy” rating for the company in a report on Friday. Ventum Financial set a C$124.00 target price on Premium Brands and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Canaccord Genuity Group cut their price target on shares of Premium Brands from C$123.00 to C$117.00 in a report on Friday. Finally, Scotia reduced their price target on shares of Premium Brands from C$110.00 to C$105.00 and set a “sector outperform” rating for the company in a research report on Friday. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$116.25.

Premium Brands Trading Up 3.1%

TSE:PBH opened at C$83.80 on Friday. Premium Brands has a 12 month low of C$80.24 and a 12 month high of C$106.79. The firm has a fifty day simple moving average of C$88.25 and a 200-day simple moving average of C$90.84. The company has a current ratio of 1.28, a quick ratio of 1.16 and a debt-to-equity ratio of 163.05. The company has a market capitalization of C$4.36 billion, a P/E ratio of 93.11, a PEG ratio of 1.10 and a beta of 0.90.

Premium Brands (TSE:PBH) last released its earnings results on Thursday, August 6th. The company reported C$1.53 earnings per share (EPS) for the quarter. The firm had revenue of C$2.38 billion for the quarter. Premium Brands had a return on equity of 2.21% and a net margin of 0.52%. On average, equities research analysts anticipate that Premium Brands will post 6.039823 earnings per share for the current year.

Premium Brands News Summary

Here are the key news stories impacting Premium Brands this week:

• Positive Sentiment: Premium Brands reported record second-quarter sales, adjusted EBITDA and adjusted earnings, and declared a third-quarter dividend. The company separately reported quarterly revenue of C$2.38 billion and EPS of C$1.53. Premium Brands second-quarter results
• Positive Sentiment: Several analysts retained constructive ratings following the results. ATB Cormark and TD maintained “outperform” or “buy” views with C$130 targets, while RBC kept an “outperform” rating and a C$120 target. Other retained positive ratings included Ventum, Desjardins and Stifel. Analyst rating changes
• Neutral Sentiment: Even after the revisions, the published targets imply approximately 16.9% to 55.1% potential upside from the reported C$83.84 share price, suggesting analysts still view the stock as undervalued if earnings growth and profitability improve.
• Negative Sentiment: Every listed analyst lowered its price target: Canaccord Genuity to C$117, National Bank to C$98, Scotia to C$105, BMO to C$111, ATB Cormark to C$130, Ventum to C$127, CIBC to C$100, RBC to C$120, TD to C$130, Desjardins to C$110 and Stifel to C$105. The widespread reductions signal more cautious expectations despite the remaining bullish ratings. Premium Brands analyst revisions

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.