Scotiabank Upgrades Premium Brands (TSE:PBH) to “Outperform”

Premium Brands (TSE:PBH) was upgraded by investment analysts at Scotiabank from a “hold” rating to an “outperform” rating in a research note issued on Thursday, MarketBeat reports. The brokerage presently has a C$120.00 target price on the stock, up from their prior target price of C$99.00. Scotiabank’s price objective suggests a potential upside of 18.23% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. BMO Capital Markets lifted their price objective on shares of Premium Brands from C$109.00 to C$111.00 in a research note on Tuesday, November 11th. CIBC raised their target price on Premium Brands from C$108.00 to C$115.00 in a research note on Tuesday, November 11th. Stifel Nicolaus lifted their price target on Premium Brands from C$106.00 to C$111.00 in a research report on Thursday. Royal Bank Of Canada increased their price objective on Premium Brands from C$108.00 to C$118.00 in a report on Tuesday, November 4th. Finally, TD Securities raised their price objective on Premium Brands from C$145.00 to C$160.00 in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of C$120.09.

Premium Brands Price Performance

Shares of TSE PBH opened at C$101.50 on Thursday. Premium Brands has a fifty-two week low of C$72.57 and a fifty-two week high of C$103.89. The company has a market cap of C$4.53 billion, a PE ratio of 69.05, a P/E/G ratio of 1.10 and a beta of 0.38. The company has a debt-to-equity ratio of 163.00, a quick ratio of 1.16 and a current ratio of 1.51. The business has a 50-day simple moving average of C$95.52 and a two-hundred day simple moving average of C$91.03.

Premium Brands (TSE:PBH) last announced its quarterly earnings data on Monday, November 10th. The company reported C$1.27 EPS for the quarter. The firm had revenue of C$1.99 billion during the quarter. Premium Brands had a net margin of 1.55% and a return on equity of 5.66%. As a group, equities analysts expect that Premium Brands will post 6.039823 EPS for the current fiscal year.

About Premium Brands

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.