Premium Brands (TSE:PBH) Price Target Cut to C$100.00 by Analysts at Canadian Imperial Bank of Commerce

Premium Brands (TSE:PBH) had its target price trimmed by Canadian Imperial Bank of Commerce from C$115.00 to C$100.00 in a report published on Friday morning,BayStreet.CA reports.

A number of other brokerages also recently weighed in on PBH. BMO Capital Markets lowered their target price on shares of Premium Brands from C$118.00 to C$111.00 in a research note on Friday. Scotia upped their price target on shares of Premium Brands from C$100.00 to C$110.00 and gave the company a “sector outperform” rating in a research report on Friday, May 8th. Ventum Financial set a C$124.00 price target on Premium Brands and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Ventum Capital increased their price target on Premium Brands from C$124.00 to C$128.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Royal Bank Of Canada lifted their price objective on Premium Brands from C$129.00 to C$131.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Premium Brands has an average rating of “Moderate Buy” and an average target price of C$116.25.

Premium Brands Price Performance

Shares of PBH opened at C$83.80 on Friday. Premium Brands has a 1 year low of C$80.24 and a 1 year high of C$106.79. The company has a debt-to-equity ratio of 163.05, a current ratio of 1.28 and a quick ratio of 1.16. The company has a market capitalization of C$4.36 billion, a price-to-earnings ratio of 93.11, a price-to-earnings-growth ratio of 1.10 and a beta of 0.90. The business has a 50-day moving average of C$88.25 and a 200-day moving average of C$90.84.

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

Key Stories Impacting Premium Brands

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

Premium Brands Company Profile

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.