Desjardins upgraded shares of Premium Brands (TSE:PBH) from a hold rating to a buy rating in a report published on Wednesday morning, BayStreet.CA reports. The firm currently has C$103.00 price objective on the stock, up from their prior price objective of C$83.00. Desjardins also issued estimates for Premium Brands’ Q2 2019 earnings at $0.72 EPS, Q3 2019 earnings at $1.07 EPS, Q4 2019 earnings at $1.07 EPS, FY2019 earnings at $3.43 EPS and FY2020 earnings at $4.09 EPS.
A number of other equities analysts have also weighed in on the stock. BMO Capital Markets dropped their target price on shares of Premium Brands from C$92.00 to C$86.00 in a research report on Friday, March 15th. Royal Bank of Canada restated an outperform rating on shares of in a research report on Tuesday, June 25th. CIBC initiated coverage on shares of Zoom Video Communications in a research report on Friday, May 24th. They set a market perform rating for the company. Cormark upped their target price on shares of Premium Brands from C$91.00 to C$97.00 in a research report on Wednesday, May 22nd. Finally, National Bank Financial dropped their target price on shares of Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating for the company in a research report on Tuesday, June 25th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Premium Brands currently has an average rating of Buy and a consensus price target of C$95.89.
PBH opened at C$94.04 on Wednesday. The company has a market capitalization of $3.49 billion and a price-to-earnings ratio of 32.88. Premium Brands has a 1-year low of C$66.99 and a 1-year high of C$114.48. The stock has a 50 day moving average price of C$88.27. The company has a current ratio of 1.70, a quick ratio of 0.73 and a debt-to-equity ratio of 187.13.
Premium Brands (TSE:PBH) last posted its quarterly earnings results on Monday, May 13th. The company reported C$0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$0.47 by C$0.05. The firm had revenue of C$776.60 million during the quarter, compared to the consensus estimate of C$801.50 million. Equities research analysts expect that Premium Brands will post 4.6800001 EPS for the current year.
In related news, Senior Officer Douglas Owen Goss bought 560 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average price of C$85.54 per share, for a total transaction of C$47,902.40. Following the completion of the transaction, 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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