Premium Brands (TSE:PBH) Price Target Raised to C$128.00 at Ventum Capital

Premium Brands (TSE:PBH) had its price objective upped by Ventum Capital from C$124.00 to C$128.00 in a report published on Friday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

Several other research firms also recently weighed in on PBH. Desjardins set a C$120.00 price target on Premium Brands and gave the company a “buy” rating in a research note on Friday, March 20th. TD Securities dropped their target price on Premium Brands from C$160.00 to C$140.00 and set a “buy” rating on the stock in a report on Monday, March 23rd. Scotiabank dropped their target price on 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. Raymond James Financial dropped their target price on Premium Brands from C$125.00 to C$115.00 and set an “outperform” rating on the stock in a report on Friday, March 20th. Finally, Ventum Financial set a C$124.00 target price on Premium Brands and gave the stock a “buy” rating in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$118.62.

Premium Brands Stock Up 1.4%

Premium Brands stock opened at C$89.85 on Friday. The company has a debt-to-equity ratio of 206.42, a quick ratio of 1.16 and a current ratio of 1.23. The business’s 50-day simple moving average is C$89.14 and its two-hundred day simple moving average is C$94.85. The company has a market cap of C$4.67 billion, a PE ratio of 99.83, a PEG ratio of 1.10 and a beta of 0.80. Premium Brands has a fifty-two week low of C$78.53 and a fifty-two week high of C$106.79.

Premium Brands (TSE:PBH) last posted its quarterly earnings results on Thursday, May 7th. The company reported C$0.83 earnings per share for the quarter. The business had revenue of C$2.05 billion for the quarter. Premium Brands had a return on equity of 2.38% and a net margin of 0.54%. Equities analysts anticipate that Premium Brands will post 6.039823 EPS for the current year.

Key Premium Brands News

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

• Positive Sentiment: Scotia raised its price target on Premium Brands (PBH) to C$110 from C$100 and reiterated a “sector outperform” rating, signaling confidence in further upside. Scotia price target raise
• Positive Sentiment: Royal Bank of Canada increased its target to C$131 from C$129 and kept an “outperform” rating, one of the most bullish calls among the recent updates. RBC price target raise
• Positive Sentiment: Ventum Capital lifted its target to C$128 from C$124 and maintained a “buy” rating, adding to the positive analyst momentum around the stock. Ventum price target raise
• Positive Sentiment: Stifel Nicolaus raised its target to C$117 from C$112 and reiterated a “buy” rating, suggesting continued expectations for solid performance. Stifel price target raise
• Positive Sentiment: Canadian Imperial Bank of Commerce increased its target to C$115 from C$110, reflecting a more constructive outlook after the company’s earnings update. CIBC price target raise
• Neutral Sentiment: Premium Brands reported first-quarter EPS of C$0.83 on revenue of C$2.05 billion, alongside a press release describing record first-quarter sales, adjusted EBITDA and adjusted earnings, plus a declared second-quarter dividend. Q1 results and dividend

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.