Primo Brands Corporation (NYSE:PRMB) Stock Has Average Price Target of $27.82

Primo Brands Corporation (NYSE:PRMB) has received an average recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $27.82.

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Primo Brands from $26.00 to $29.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft set a $21.00 target price on shares of Primo Brands in a research report on Monday, October 19th. Barclays decreased their price target on shares of Primo Brands from $29.00 to $26.00 and set an “overweight” rating on the stock in a research report on Friday, October 16th. TD Cowen reaffirmed a “buy” rating on shares of Primo Brands in a report on Thursday, August 6th. Finally, TD upped their target price on shares of Primo Brands from $29.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th.

Insider Activity at Primo Brands

In other news, CEO Eric Foss acquired 84,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average cost of $23.80 per share, for a total transaction of $1,999,200.00. Following the completion of the acquisition, the chief executive officer directly owned 573,806 shares of the company’s stock, valued at $13,656,582.80. The trade was a 17.15% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 32.90% of the company’s stock.

Hedge Funds Weigh In On Primo Brands

A number of large investors have recently added to or reduced their stakes in PRMB. Harbor Investment Advisory LLC purchased a new position in shares of Primo Brands in the second quarter worth $37,000. EverSource Wealth Advisors LLC grew its holdings in shares of Primo Brands by 76.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,962 shares of the company’s stock valued at $37,000 after buying an additional 853 shares during the last quarter. CX Institutional purchased a new stake in shares of Primo Brands during the third quarter valued at $38,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Primo Brands in the 3rd quarter valued at $39,000. Finally, IFP Advisors Inc increased its position in shares of Primo Brands by 64.4% in the 2nd quarter. IFP Advisors Inc now owns 3,069 shares of the company’s stock valued at $75,000 after acquiring an additional 1,202 shares during the period. 87.71% of the stock is currently owned by institutional investors.

Primo Brands Stock Up 1.3%

Shares of NYSE:PRMB opened at $19.73 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.86 and a debt-to-equity ratio of 1.71. The stock’s 50-day moving average price is $20.47 and its 200-day moving average price is $21.39. The stock has a market capitalization of $7.15 billion, a P/E ratio of 75.89, a price-to-earnings-growth ratio of 1.97 and a beta of 0.71. Primo Brands has a 12-month low of $14.36 and a 12-month high of $26.21.

Primo Brands (NYSE:PRMB) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.77 billion. Primo Brands had a return on equity of 14.24% and a net margin of 1.49%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 earnings per share. On average, equities analysts anticipate that Primo Brands will post 1.27 earnings per share for the current year.

Primo Brands Company Profile

Primo Brands Corporation is a beverage company focused on providing water and hydration products across North America. The company offers bottled water, water dispensers, refill services, filtration products and other beverage options for households, businesses and retail customers.

Its portfolio includes well-known regional and national water brands such as Poland Spring, Deer Park, Ice Mountain, Arrowhead, Ozarka, Zephyrhills, Pure Life and Primo. Products are distributed through retail stores, direct delivery, e-commerce and workplace and residential water services.

Primo Brands was created through the combination of Primo Water Corporation and BlueTriton Brands, a transaction completed in 2024.