Premium Brands (TSE:PBH) Hits New 52-Week Low – What’s Next?

Premium Brands Holdings Co. (TSE:PBHGet Free Report) reached a new 52-week low during trading on Thursday . The stock traded as low as C$80.90 and last traded at C$81.38, with a volume of 329644 shares. The stock had previously closed at C$94.84.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on PBH. Scotia dropped their price objective on shares of Premium Brands from C$110.00 to C$105.00 and set a “sector outperform” rating for the company in a report on Friday. BMO Capital Markets dropped their price target on shares of Premium Brands from C$118.00 to C$111.00 in a research note on Friday. TD cut their price target on shares of Premium Brands from C$140.00 to C$130.00 and set a “buy” rating for the company in a report on Friday. Desjardins decreased their price objective on Premium Brands from C$120.00 to C$110.00 and set a “buy” rating on the stock in a report on Friday. Finally, Royal Bank Of Canada decreased their price objective on Premium Brands from C$131.00 to C$120.00 and set an “outperform” rating on the stock in a report on Friday. Twelve 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, Premium Brands currently has a consensus rating of “Moderate Buy” and an average target price of C$116.25.

View Our Latest Stock Report on PBH

Premium Brands Trading Up 3.1%

The firm has a market capitalization of C$4.36 billion, a price-to-earnings ratio of 93.11, a PEG ratio of 1.10 and a beta of 0.90. The business’s 50-day simple moving average is C$88.25 and its two-hundred day simple moving average is C$90.84. The company has a quick ratio of 1.16, a current ratio of 1.28 and a debt-to-equity ratio of 163.05.

Premium Brands (TSE:PBHGet Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported C$1.53 EPS for the quarter. The firm had revenue of C$2.38 billion for the quarter. Premium Brands had a net margin of 0.52% and a return on equity of 2.21%. Equities analysts forecast that Premium Brands Holdings Co. will post 6.039823 earnings per share for the current year.

About Premium Brands

(Get Free Report)

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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