Desjardins Downgrades Premium Brands (PBH) to Hold

Premium Brands (TSE:PBH) was downgraded by Desjardins from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday. Desjardins also issued estimates for Premium Brands’ FY2019 earnings at $4.22 EPS and FY2020 earnings at $4.73 EPS.

Several other research firms also recently commented on PBH. National Bank Financial reduced their price target on shares of Premium Brands from C$130.00 to C$95.00 and set an “outperform” rating for the company in a research report on Wednesday, November 14th. Canaccord Genuity reduced their price target on shares of Premium Brands from C$110.00 to C$100.00 in a research report on Wednesday, November 14th. CIBC cut shares of Premium Brands from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from C$126.00 to C$82.00 in a research note on Monday, November 19th. TD Securities cut shares of Premium Brands from an “action list buy” rating to a “buy” rating and dropped their price objective for the company from C$145.00 to C$95.00 in a research note on Wednesday, November 14th. Finally, Royal Bank of Canada dropped their price objective on shares of Premium Brands from C$133.00 to C$126.00 and set an “outperform” rating on the stock in a research note on Monday, November 12th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of C$100.50.

PBH stock opened at C$78.29 on Tuesday. Premium Brands has a 12 month low of C$66.99 and a 12 month high of C$122.77. The firm has a market capitalization of $2.64 billion and a P/E ratio of 25.47. The company has a quick ratio of 0.95, a current ratio of 1.92 and a debt-to-equity ratio of 136.58.

Premium Brands (TSE:PBH) last released its quarterly earnings results on Tuesday, November 13th. The company reported C$0.94 EPS for the quarter, missing the consensus estimate of C$1.14 by C($0.20). The company had revenue of C$835.50 million for the quarter, compared to analysts’ expectations of C$835.17 million. On average, equities research analysts forecast that Premium Brands will post 4.46999991485714 earnings per share for the current fiscal year.

In other news, insider Douglas Owen Goss acquired 1,000 shares of the company’s stock in a transaction on Friday, November 16th. The shares were bought at an average cost of C$69.23 per share, with a total value of C$69,230.00.

About Premium Brands

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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