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The latest update is out from Premium Brands ( (TSE:PBH) ).
Premium Brands Holdings Corporation reported record second-quarter sales of $1.9 billion, a 12.5% increase from the previous year, driven by strong growth in its U.S. initiatives for protein and artisan baked goods. The company also completed a sale and leaseback of its Tennessee sandwich plant, generating $166 million, and declared a third-quarter dividend of $0.85 per share. Despite challenges such as protein cost inflation, the company achieved a 7.6% increase in adjusted EBITDA and made progress in debt reduction, indicating a positive impact on its financial stability and market positioning.
The most recent analyst rating on (TSE:PBH) stock is a Buy with a C$94.00 price target. To see the full list of analyst forecasts on Premium Brands stock, see the TSE:PBH Stock Forecast page.
Spark’s Take on TSE:PBH Stock
According to Spark, TipRanks’ AI Analyst, TSE:PBH is a Outperform.
Premium Brands’ strong future growth prospects, as highlighted in the earnings call, and its bullish technical indicators are the most significant factors driving the score. However, high leverage, negative free cash flow, and an expensive valuation are notable risks. The company has strong shareholder support and record sales, which contribute positively to the outlook.
To see Spark’s full report on TSE:PBH stock, click here.
More about Premium Brands
Premium Brands Holdings Corporation is a leading producer, marketer, and distributor of branded specialty food products. The company focuses on the U.S. market with core growth initiatives in protein and artisan baked goods.
Average Trading Volume: 109,272
Technical Sentiment Signal: Buy
Current Market Cap: C$3.87B
See more data about PBH stock on TipRanks’ Stock Analysis page.