Primo Brands Corporation (NYSE:PRMB) Receives Average Rating of “Moderate Buy” from Analysts

Primo Brands Corporation (NYSE:PRMB) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $26.3636.

PRMB has been the topic of a number of research analyst reports. Barclays boosted their target price on Primo Brands from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Tuesday. Weiss Ratings raised Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Jefferies Financial Group upgraded Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Friday, March 27th. JPMorgan Chase & Co. boosted their price objective on Primo Brands from $26.00 to $29.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Primo Brands from $24.00 to $19.00 and set a “hold” rating for the company in a research note on Monday, March 30th.

Institutional Trading of Primo Brands

Several hedge funds have recently added to or reduced their stakes in the stock. Caption Management LLC purchased a new position in Primo Brands in the third quarter valued at about $27,000. LRI Investments LLC increased its stake in shares of Primo Brands by 203.1% during the 4th quarter. LRI Investments LLC now owns 1,949 shares of the company’s stock worth $32,000 after purchasing an additional 1,306 shares during the last quarter. Picton Mahoney Asset Management raised its holdings in shares of Primo Brands by 65.2% in the 4th quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company’s stock worth $35,000 after purchasing an additional 850 shares during the period. Harbor Investment Advisory LLC bought a new stake in shares of Primo Brands in the 2nd quarter worth approximately $37,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Primo Brands by 76.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,962 shares of the company’s stock valued at $37,000 after purchasing an additional 853 shares during the last quarter. Institutional investors own 87.71% of the company’s stock.

Primo Brands Stock Up 0.1%

Primo Brands stock opened at $23.70 on Thursday. Primo Brands has a fifty-two week low of $14.36 and a fifty-two week high of $29.20. The stock has a market cap of $8.60 billion, a PE ratio of 169.31, a price-to-earnings-growth ratio of 2.04 and a beta of 0.73. The firm’s 50-day simple moving average is $24.05 and its 200 day simple moving average is $21.19. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.79 and a current ratio of 0.98.

Primo Brands (NYSE:PRMB) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.58 billion. Primo Brands had a return on equity of 13.98% and a net margin of 0.88%.The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 earnings per share. Research analysts predict that Primo Brands will post 1.25 EPS for the current fiscal year.

Primo Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Thursday, June 4th were given a dividend of $0.12 per share. The ex-dividend date was Thursday, June 4th. This represents a $0.48 annualized dividend and a yield of 2.0%. Primo Brands’s dividend payout ratio is presently 342.86%.

Primo Brands Company Profile

Primo Brands (NYSE: PRMB) is a consumer packaged beverage company that was established as an independent entity following a corporate spin?off in 2023. The company specializes in the production, marketing and distribution of a broad portfolio of bottled water products, including purified, mineral and sparkling varieties. Through its focus on quality control and innovation, Primo Brands aims to deliver clean, great-tasting water in formats tailored to both at-home consumption and on-the-go lifestyles.

Its product range spans multi-serve and single-serve bottles, aluminum cans and other eco-friendly packaging solutions.