Prestige Brands Holdings Inc. (PBH) Trading 5.8% Higher
Prestige Brands Holdings Inc. (NYSE:PBH) shares traded up 5.8% during trading on Friday . The company traded as high as $50.53 and last traded at $50.06, with a volume of 758,088 shares trading hands. The stock had previously closed at $47.31.
A number of research analysts have recently commented on the company. B. Riley reaffirmed a “buy” rating and set a $70.00 target price on shares of Prestige Brands Holdings in a research note on Friday, May 13th. Zacks Investment Research raised Prestige Brands Holdings from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Wednesday, April 20th. Jefferies Group reaffirmed a “sell” rating and set a $45.00 target price on shares of Prestige Brands Holdings in a research note on Thursday, July 14th. Finally, Piper Jaffray Cos. reaffirmed an “outperform” rating on shares of Prestige Brands Holdings in a research note on Friday, July 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $59.80.
The stock has a 50-day moving average of $53.64 and a 200 day moving average of $53.02. The stock has a market cap of $2.65 billion and a P/E ratio of 38.83.
Prestige Brands Holdings (NYSE:PBH) last released its earnings results on Thursday, August 4th. The company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.04. During the same period last year, the business earned $0.52 earnings per share. The business earned $209.60 million during the quarter, compared to analysts’ expectations of $208.18 million. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities analysts expect that Prestige Brands Holdings Inc. will post $2.35 EPS for the current year.
In other Prestige Brands Holdings news, VP John Parkinson sold 25,143 shares of the firm’s stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $53.57, for a total value of $1,346,910.51. Following the transaction, the vice president now directly owns 76,255 shares of the company’s stock, valued at approximately $4,084,980.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Samuel C. Cowley sold 32,599 shares of the firm’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $54.67, for a total transaction of $1,782,187.33. Following the completion of the transaction, the vice president now directly owns 49,525 shares in the company, valued at $2,707,531.75. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have added to or reduced their stakes in the company. State of Tennessee Treasury Department acquired a new position in Prestige Brands Holdings during the fourth quarter worth $2,116,000. Employees Retirement System of Texas acquired a new position in Prestige Brands Holdings during the fourth quarter worth $1,647,000. Dimensional Fund Advisors LP raised its position in Prestige Brands Holdings by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,908,778 shares of the company’s stock worth $201,225,000 after buying an additional 74,159 shares during the period. Matarin Capital Management LLC acquired a new position in Prestige Brands Holdings during the fourth quarter worth $2,848,000. Finally, Jennison Associates LLC acquired a new position in Prestige Brands Holdings during the fourth quarter worth $10,257,000.
Prestige Brands Holdings, Inc is engaged in the marketing, sales and distribution of over-the-counter healthcare and household cleaning products. The Company operates through three segments: North American Over-the-Counter (OTC) Healthcare; International Over-the-Counter Healthcare, and Household Cleaning.
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