Premium Brands (TSE:PBH) Given New C$96.00 Price Target at Royal Bank of Canada

Premium Brands (TSE:PBH) had its price objective lowered by Royal Bank of Canada from C$100.00 to C$96.00 in a research report sent to investors on Thursday,BayStreet.CA reports.

A number of other analysts also recently weighed in on PBH. National Bankshares upped their price target on shares of Premium Brands from C$101.00 to C$109.00 and gave the stock a “sector perform” rating in a report on Thursday, October 24th. BMO Capital Markets cut their price target on Premium Brands from C$111.00 to C$94.00 in a report on Thursday. Stifel Nicolaus dropped their target price on Premium Brands from C$106.00 to C$101.00 in a report on Thursday. Finally, TD Securities decreased their price target on Premium Brands from C$129.00 to C$120.00 and set a “buy” rating for the company in a research report on Thursday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$108.30.

Premium Brands Price Performance

Shares of TSE PBH traded up C$0.24 during mid-day trading on Thursday, hitting C$76.30. 123,323 shares of the stock were exchanged, compared to its average volume of 53,389. The company has a market cap of C$3.39 billion, a P/E ratio of 30.43, a PEG ratio of 1.10 and a beta of 0.98. The stock’s fifty day simple moving average is C$91.17 and its two-hundred day simple moving average is C$90.54. The company has a debt-to-equity ratio of 161.28, a quick ratio of 1.16 and a current ratio of 1.56. Premium Brands has a twelve month low of C$75.67 and a twelve month high of C$97.28.

Premium Brands (TSE:PBH) last issued its quarterly earnings data on Wednesday, November 6th. The company reported C$1.11 EPS for the quarter, missing analysts’ consensus estimates of C$1.36 by C($0.25). Premium Brands had a return on equity of 6.43% and a net margin of 1.78%. During the same quarter last year, the business earned $1.27 EPS. As a group, analysts forecast that Premium Brands will post 6.039823 EPS for the current fiscal year.

Premium Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.85 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.46%. Premium Brands’s dividend payout ratio is currently 133.86%.

Insider Activity at Premium Brands

In other Premium Brands news, Senior Officer William Dion Kalutycz sold 7,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of C$86.30, for a total transaction of C$604,100.00. 2.01% of the stock is currently owned by insiders.

About Premium Brands

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