Premium Brands Holdings Corp (PBH) Downgraded by Cormark

Premium Brands Holdings Corp (TSE:PBH) was downgraded by analysts at Cormark from a “buy” rating to a “market perform” rating in a note issued to investors on Monday. They presently have a C$80.00 price objective on the stock, up from their previous price objective of C$76.00. Cormark’s price objective suggests a potential upside of 0.68% from the stock’s previous close.

Several other analysts have also recently issued reports on PBH. TD Securities upped their price objective on shares of Premium Brands Holdings Corp from C$83.00 to C$90.00 and gave the company an “action list buy” rating in a research note on Monday. BMO Capital Markets upped their price objective on shares of Premium Brands Holdings Corp from C$70.00 to C$83.00 in a research note on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and set a C$78.00 price objective on shares of Premium Brands Holdings Corp in a research note on Monday, March 13th. Finally, Scotiabank upped their price objective on shares of Premium Brands Holdings Corp from C$67.00 to C$78.00 and gave the company a “sector perform” rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of C$78.71.

Analyst Recommendations for Premium Brands Holdings Corp (TSE:PBH)

Shares of Premium Brands Holdings Corp (TSE:PBH) traded up 1.41% during trading on Monday, reaching $80.58. 126,316 shares of the company traded hands. The firm’s 50 day moving average price is $70.83 and its 200-day moving average price is $66.67. The company has a market capitalization of $2.40 billion and a price-to-earnings ratio of 38.91. Premium Brands Holdings Corp has a 52 week low of $50.98 and a 52 week high of $80.90.

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About Premium Brands Holdings Corp

Premium Brands Holdings Corp is a Canada-based company that, through its subsidiaries, owns a range of specialty food manufacturing and food distribution businesses. The Company’s segments include Specialty Foods and Premium Food Distribution. Its family of brands and businesses include Conte Foods, Larosa Foods, McSweeney’s, Direct Plus, OvenPride and Island City Baking.

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