Premium Brands (TSE:PBH) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

Premium Brands Holdings Co. (TSE:PBH)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$90.22 and traded as low as C$80.28. Premium Brands shares last traded at C$80.35, with a volume of 54,266 shares.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PBH. Stifel Nicolaus cut their target price on shares of Premium Brands from C$106.00 to C$101.00 in a research note on Thursday, November 7th. BMO Capital Markets dropped their price objective on Premium Brands from C$111.00 to C$94.00 in a research note on Thursday, November 7th. TD Securities reduced their target price on Premium Brands from C$129.00 to C$120.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. National Bankshares increased their price target on Premium Brands from C$101.00 to C$109.00 and gave the company a “sector perform” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada reduced their price objective on shares of Premium Brands from C$100.00 to C$96.00 in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$103.50.

Premium Brands Stock Down 1.1 %

The firm’s 50 day simple moving average is C$90.15 and its two-hundred day simple moving average is C$90.22. The firm has a market cap of C$3.57 billion, a price-to-earnings ratio of 31.63, a PEG ratio of 1.10 and a beta of 0.98. The company has a current ratio of 1.56, a quick ratio of 1.16 and a debt-to-equity ratio of 161.28.

Premium Brands (TSE:PBH) last issued its quarterly earnings results on Wednesday, November 6th. The company reported C$1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.36 by C($0.25). Premium Brands had a return on equity of 6.43% and a net margin of 1.78%. During the same period last year, the company posted $1.27 EPS. On average, equities analysts forecast that Premium Brands Holdings Co. will post 6.039823 EPS for the current year.

Premium Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.85 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.40 dividend on an annualized basis and a yield of 4.23%. Premium Brands’s payout ratio is 133.86%.

Insider Activity

In related news, Senior Officer William Dion Kalutycz sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of C$86.30, for a total transaction of C$604,100.00. Also, Director Johnny Ciampi bought 3,500 shares of the business’s stock in a transaction on Friday, November 8th. The stock was bought at an average price of C$77.02 per share, for a total transaction of C$269,570.00. Corporate insiders own 2.01% of the company’s stock.

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.