Premium Brands (TSE:PBH) Share Price Crosses Above 50-Day Moving Average – Here’s Why

Shares of Premium Brands Holdings Co. (TSE:PBH) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$81.09 and traded as high as C$81.81. Premium Brands shares last traded at C$80.07, with a volume of 45,046 shares.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Royal Bank of Canada dropped their target price on Premium Brands from C$100.00 to C$96.00 in a research note on Thursday, November 7th. Stifel Nicolaus dropped their price objective on shares of Premium Brands from C$106.00 to C$101.00 in a research note on Thursday, November 7th. National Bankshares raised their target price on shares of Premium Brands from C$101.00 to C$109.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 24th. TD Securities dropped their price target on shares of Premium Brands from C$129.00 to C$120.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Raymond James set a C$100.00 price target on shares of Premium Brands and gave the company an “outperform” rating in a report on Thursday, December 19th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$103.11.

Premium Brands Stock Down 1.5 %

The firm’s 50-day moving average price is C$81.09 and its 200-day moving average price is C$87.83. The company has a debt-to-equity ratio of 161.28, a current ratio of 1.56 and a quick ratio of 1.16. The company has a market cap of C$3.56 billion, a price-to-earnings ratio of 31.52, a price-to-earnings-growth ratio of 1.10 and a beta of 0.98.

Premium Brands (TSE:PBH) last announced its quarterly earnings results on Wednesday, November 6th. The company reported C$1.11 earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the company earned $1.27 earnings per share. Sell-side analysts forecast that Premium Brands Holdings Co. will post 6.039823 earnings per share for the current fiscal year.

Premium Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.85 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.25%. Premium Brands’s dividend payout ratio (DPR) is currently 133.86%.

Insider Buying and Selling

In other news, Director Johnny Ciampi purchased 2,000 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was acquired at an average cost of C$78.78 per share, with a total value of C$157,560.00. 2.01% of the stock is currently owned by corporate insiders.

About Premium Brands

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.