CIBC Upgrades Premium Brands (TSE:PBH) to "Outperform"

Premium Brands (TSE:PBH - Get Free Report) was upgraded by CIBC from a "neutral" rating to an "outperform" rating in a research note issued on Monday,BayStreet.CA reports. The firm presently has a C$95.00 price objective on the stock, up from their prior price objective of C$90.00. CIBC's target price indicates a potential upside of 26.57% from the stock's previous close.

Several other analysts have also weighed in on PBH. Ventum Financial upped their price objective on Premium Brands from C$109.00 to C$120.00 and gave the company a "buy" rating in a report on Monday, March 24th. National Bankshares dropped their target price on shares of Premium Brands from C$99.00 to C$96.00 and set a "sector perform" rating on the stock in a report on Thursday, February 27th. BMO Capital Markets lifted their price target on shares of Premium Brands from C$94.00 to C$100.00 and gave the stock an "outperform" rating in a research report on Monday, March 24th. Royal Bank of Canada increased their price objective on Premium Brands from C$96.00 to C$97.00 and gave the company an "outperform" rating in a research report on Thursday, March 20th. Finally, Scotiabank raised Premium Brands to a "hold" rating in a research report on Tuesday, April 1st. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$103.40.

Premium Brands Price Performance

Shares of TSE PBH traded up C$1.74 during mid-day trading on Monday, reaching C$75.06. 46,841 shares of the company traded hands, compared to its average volume of 92,235. Premium Brands has a fifty-two week low of C$72.57 and a fifty-two week high of C$97.10. The firm has a market cap of C$3.34 billion, a PE ratio of 33.41, a price-to-earnings-growth ratio of 1.10 and a beta of 0.98. The stock has a fifty day simple moving average of C$77.16 and a 200-day simple moving average of C$81.59. The company has a debt-to-equity ratio of 163.00, a current ratio of 1.51 and a quick ratio of 1.16.

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 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.