Royal Bank of Canada Cuts Premium Brands (PBH) Price Target to C$97.00

Premium Brands (TSE:PBH) had its price target lowered by investment analysts at Royal Bank of Canada from C$100.00 to C$97.00 in a research note issued to investors on Friday. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 31.97% from the stock’s previous close.

Other research analysts have also issued reports about the stock. TD Securities dropped their price objective on shares of Premium Brands from C$95.00 to C$94.00 and set a “buy” rating on the stock in a research note on Friday. CIBC dropped their price objective on shares of Premium Brands from C$82.00 to C$72.00 in a research note on Friday. BMO Capital Markets dropped their price objective on shares of Premium Brands from C$92.00 to C$86.00 in a research note on Friday. Industrial Alliance Securities reaffirmed a “buy” rating and issued a C$95.00 price objective on shares of Premium Brands in a research note on Monday, January 28th. Finally, National Bank Financial reaffirmed an “outperform” rating and issued a C$95.00 price objective on shares of Premium Brands in a research note on Friday, January 18th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Premium Brands presently has a consensus rating of “Buy” and an average target price of C$94.75.

Shares of Premium Brands stock traded up C$2.74 during trading hours on Friday, reaching C$73.50. The company’s stock had a trading volume of 136,864 shares, compared to its average volume of 124,794. Premium Brands has a one year low of C$66.99 and a one year high of C$122.77. The firm has a market capitalization of $2.40 billion and a price-to-earnings ratio of 23.91. The company has a current ratio of 1.92, a quick ratio of 0.95 and a debt-to-equity ratio of 136.58.

Premium Brands Company Profile

Premium Brands Holdings Corporation, through its subsidiaries, manufactures and distributes food products primarily in Canada and the United States. It operates through two segments, Specialty Foods and Premium Food Distribution. The company provides premium and natural processed meat products, specialty deli products, meat snacks, beef jerky and halal, sandwiches, pastries, specialty and gourmet products, salads and kettle, entres, panini, wraps, subs, hamburgers, burgers, muffins, breads, specialty pastas, and sushi products.

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Analyst Recommendations for Premium Brands (TSE:PBH)

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