Zacks Investment Research Lowers Prestige Brands Holdings, Inc. (PBH) to Hold

Zacks Investment Research cut shares of Prestige Brands Holdings, Inc. (NYSE:PBH) from a buy rating to a hold rating in a research note released on Wednesday.

According to Zacks, “Prestige Brands Holdings is a marketer and distributor of brand name over- the-counter drug, personal care and household cleaning products sold throughout the United States and Canada. Key brands include Compound W wart remover, Chloraseptic sore-throat relief products, New-Skin liquid bandage, Clear eyes and Murine eye and ear care products, Little Remedies pediatric over-the-counter healthcare products, Cutex nail polish remover, Comet and Spic & Span household cleaner and several other well-recognized brands. “

A number of other equities research analysts also recently weighed in on PBH. Jefferies Group LLC reissued an underperform rating and set a $42.00 target price on shares of Prestige Brands Holdings in a report on Friday, December 23rd. B. Riley reissued a buy rating and set a $77.00 target price (up previously from $70.00) on shares of Prestige Brands Holdings in a report on Friday, December 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $61.67.

Analyst Recommendations for Prestige Brands Holdings (NYSE:PBH)

Shares of Prestige Brands Holdings (NYSE:PBH) traded down 0.30% on Wednesday, reaching $55.77. 20,417 shares of the company traded hands. The firm’s 50 day moving average is $56.68 and its 200 day moving average is $50.97. Prestige Brands Holdings has a one year low of $44.64 and a one year high of $58.08. The company has a market capitalization of $2.95 billion, a P/E ratio of 41.28 and a beta of 1.56.

Prestige Brands Holdings (NYSE:PBH) last posted its earnings results on Thursday, February 2nd. The company reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.05. Prestige Brands Holdings had a return on equity of 16.45% and a net margin of 8.51%. The company earned $216.80 million during the quarter, compared to the consensus estimate of $210.34 million. During the same quarter last year, the firm earned $0.53 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. Analysts expect that Prestige Brands Holdings will post $2.38 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. boosted its position in shares of Prestige Brands Holdings by 21.0% in the second quarter. Macquarie Group Ltd. now owns 291,489 shares of the company’s stock worth $16,148,000 after buying an additional 50,671 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Prestige Brands Holdings by 2.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 18,311 shares of the company’s stock worth $884,000 after buying an additional 364 shares during the last quarter. Eagle Asset Management Inc. boosted its position in shares of Prestige Brands Holdings by 0.6% in the third quarter. Eagle Asset Management Inc. now owns 1,348,235 shares of the company’s stock worth $65,079,000 after buying an additional 7,453 shares during the last quarter. Eagle Boston Investment Management Inc. boosted its position in shares of Prestige Brands Holdings by 1.2% in the third quarter. Eagle Boston Investment Management Inc. now owns 150,045 shares of the company’s stock worth $7,242,000 after buying an additional 1,778 shares during the last quarter. Finally, Fox Run Management L.L.C. boosted its position in shares of Prestige Brands Holdings by 164.9% in the third quarter. Fox Run Management L.L.C. now owns 15,100 shares of the company’s stock worth $729,000 after buying an additional 9,400 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

About Prestige Brands Holdings

Prestige Brands Holdings, Inc is engaged in the marketing, sales and distribution of over-the-counter healthcare and household cleaning products. The Company operates through three segments: North American Over-the-Counter (OTC) Healthcare; International Over-the-Counter Healthcare, and Household Cleaning.

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