Home / Market Movers / Midday Mover: Premium Brands Holdings Corporation (PBH:CA) Gains 1.13% to Lead TSX Composite Consumer Staples Stocks at Noon on September 22

Midday Mover: Premium Brands Holdings Corporation (PBH:CA) Gains 1.13% to Lead TSX Composite Consumer Staples Stocks at Noon on September 22

Premium Brands Holdings Corporation (PBH:CA) is one of the best performing stocks in the consumer staples sector in the S&P/TSX Composite Index at the lunch break on September 22. Shares of PBH:CA have climbed 1.13% about halfway through the session to $64.61 after closing the day prior at $63.89. So far, the stock has traded as high as $64.8 and as low as $63.85 in morning action. Today’s advance has come with about 19,164 shares changing hands, compared to an average 30-day volume of 92,822 for Premium Brands Holdings Corporation. The price is currently below the 30-day volume weighted average price of $64.52 for PBH:CA.

The share appreciation gives the consumer staples company a market capitalization of $1.9 billion based upon 29.78 million shares outstanding. It also means that Premium Brands H has a price-to-book ratio of 4.98:1 and a price-to-earnings ratio of 37.1:1.

In the past 52 weeks, shares of PBH:CA have traded as low as $30.74 and as high as $64.42. Technical traders will take note that at $64.61, shares of PBH:CA are trading above their 200-day MA at $51.37 and above their 50-day MA at $60.08. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.

Who is Premium Brands H?

Premium Brands Holdings Corp owns a specialty food manufacturing and differentiated food distribution businesses with operations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nevada, Ohio and Washington State. The company’s 4507 employees are led by CEO George Paleologou,CA from the corporate headquarters at 100-10991 Shellbridge Way.

What is the S&P/TSX Composite Index?

Developed and managed by S&P Dow Jones Indices and launched in January 1977, the S&P/TSX Composite is the headline index for the Canadian equity market. Generally, when investors refer to movement in the Canadian markets, they are referring to the S&P/TSX Composite, as it is the broadest index in the S&P/TSX franchise. The index includes more than 230 of the biggest companies traded on the Toronto Stock Exchange, with financials making up the most heavily weighted sector in the index, followed by energy and materials. The Toronto Stock Exchange serves as the distributor of both real-time and historical data for this index.

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