Premium Brands (TSE:PBH) Upgraded to Moderate Buy at Raymond James

Raymond James upgraded shares of Premium Brands (TSE:PBH) to a moderate buy rating in a research note published on Wednesday,Zacks.com reports.

A number of other research analysts have also commented on the company. Stifel Nicolaus decreased their price objective on Premium Brands from C$106.00 to C$101.00 in a report on Thursday, November 7th. Royal Bank of Canada cut their price target on Premium Brands from C$100.00 to C$96.00 in a research note on Thursday, November 7th. National Bankshares upped their target price on Premium Brands from C$101.00 to C$109.00 and gave the company a “sector perform” rating in a report on Thursday, October 24th. TD Securities cut their price target on Premium Brands from C$129.00 to C$120.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, CIBC reduced their price target on shares of Premium Brands from C$103.00 to C$90.00 in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$103.11.

Premium Brands Stock Performance

Shares of PBH opened at C$79.09 on Wednesday. The firm has a market cap of C$3.51 billion, a P/E ratio of 31.14, a PEG ratio of 1.10 and a beta of 0.98. The firm’s 50 day moving average price is C$84.29 and its two-hundred day moving average price is C$88.61. Premium Brands has a twelve month low of C$75.67 and a twelve month high of C$97.10. 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 (TSE:PBH) last posted its quarterly earnings results on Wednesday, November 6th. The company reported C$1.11 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.36 by C($0.25). Premium Brands had a net margin of 1.78% and a return on equity of 6.43%. During the same period in the prior year, the company earned $1.27 earnings per share. On average, analysts forecast that Premium Brands will post 6.039823 EPS for the current fiscal year.

Premium Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.40 dividend on an annualized basis and a yield of 4.30%. Premium Brands’s dividend payout ratio is presently 133.86%.

Insider Buying and Selling at Premium Brands

In other news, Director Johnny Ciampi acquired 2,000 shares of Premium Brands stock in a transaction dated Friday, November 29th. The shares were purchased at an average cost of C$78.78 per share, for a total transaction of C$157,560.00. Insiders own 2.01% of the company’s stock.

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.