Prestige Consumer Healthcare (NYSE:PBH) Shares Gap Up on Strong Earnings

Prestige Consumer Healthcare Inc. (NYSE:PBHGet Free Report)’s stock price gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $62.91, but opened at $65.63. Prestige Consumer Healthcare shares last traded at $63.48, with a volume of 2,979 shares changing hands.

The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.02. Prestige Consumer Healthcare had a negative net margin of 7.11% and a positive return on equity of 14.09%. The business had revenue of $282.74 million during the quarter, compared to analysts’ expectations of $280.25 million. During the same quarter in the previous year, the company earned $1.04 EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets cut their price objective on shares of Prestige Consumer Healthcare from $124.00 to $117.00 and set an “outperform” rating for the company in a research note on Wednesday, November 15th. Royal Bank of Canada cut their price objective on shares of Prestige Consumer Healthcare from $110.00 to $103.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 15th. Finally, StockNews.com raised shares of Prestige Consumer Healthcare from a “hold” rating to a “buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.00.

View Our Latest Stock Report on Prestige Consumer Healthcare

Institutional Investors Weigh In On Prestige Consumer Healthcare

Several institutional investors have recently added to or reduced their stakes in PBH. Ariel Investments LLC boosted its position in Prestige Consumer Healthcare by 173.8% during the 3rd quarter. Ariel Investments LLC now owns 2,534,786 shares of the company’s stock valued at $144,964,000 after buying an additional 1,609,044 shares during the period. BlackRock Inc. lifted its position in shares of Prestige Consumer Healthcare by 12.4% in the 1st quarter. BlackRock Inc. now owns 9,115,718 shares of the company’s stock worth $482,584,000 after purchasing an additional 1,004,337 shares during the period. Macquarie Group Ltd. lifted its position in shares of Prestige Consumer Healthcare by 39.6% in the 1st quarter. Macquarie Group Ltd. now owns 2,753,431 shares of the company’s stock worth $172,447,000 after purchasing an additional 781,431 shares during the period. Norges Bank purchased a new stake in shares of Prestige Consumer Healthcare in the 4th quarter worth about $35,336,000. Finally, Envestnet Asset Management Inc. lifted its position in shares of Prestige Consumer Healthcare by 1,386.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 365,673 shares of the company’s stock worth $1,232,000 after purchasing an additional 341,075 shares during the period. Hedge funds and other institutional investors own 99.95% of the company’s stock.

Prestige Consumer Healthcare Price Performance

The company’s 50-day moving average price is $60.94 and its 200 day moving average price is $60.23. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.09 and a quick ratio of 1.75.

Prestige Consumer Healthcare Company Profile

(Get Free Report)

Prestige Consumer Healthcare Inc, together with its subsidiaries, develops, manufactures, markets, distributes, and sells over-the-counter (OTC) health and personal care products in the United States and internationally. The company operates in two segments, North American OTC Healthcare and International OTC Healthcare.

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