Premium Brands (TSE:PBH – Free Report) had its price objective lowered by Scotia from C$110.00 to C$105.00 in a research report report published on Friday morning,BayStreet.CA reports. The brokerage currently has a sector outperform rating on the stock.
PBH has been the subject of several other research reports. 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. Royal Bank Of Canada reduced their price target on Premium Brands from C$131.00 to C$120.00 and set an “outperform” rating on the stock in a report on Friday. TD decreased their price target on Premium Brands from C$140.00 to C$130.00 and set a “buy” rating for the company in a research note on Friday. Canaccord Genuity Group dropped their price objective on Premium Brands from C$123.00 to C$117.00 in a report on Friday. Finally, Desjardins cut their price objective on Premium Brands from C$120.00 to C$110.00 and set a “buy” rating on the stock in a research report on Friday. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$116.25.
Get Our Latest Stock Report on Premium Brands
Premium Brands Price Performance
Premium Brands (TSE:PBH – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported C$1.53 EPS for the quarter. Premium Brands had a net margin of 0.52% and a return on equity of 2.21%. The company had revenue of C$2.38 billion for the quarter. Equities research analysts anticipate that Premium Brands will post 6.039823 earnings per share for the current year.
Trending Headlines about 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
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.
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