Primo Brands (NYSE:PRMB) Raised to “Buy” at Jefferies Financial Group

Primo Brands (NYSE:PRMB) was upgraded by equities researchers at Jefferies Financial Group from a “hold” rating to a “buy” rating in a report released on Friday, Marketbeat.com reports. The brokerage currently has a $25.00 target price on the stock. Jefferies Financial Group’s target price suggests a potential upside of 36.40% from the stock’s previous close.

PRMB has been the subject of several other reports. Weiss Ratings upgraded Primo Brands from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 23rd. TD Securities boosted their price objective on Primo Brands from $27.00 to $29.00 and gave the company a “buy” rating in a report on Friday, February 27th. JPMorgan Chase & Co. decreased their target price on Primo Brands from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, December 18th. Mizuho raised their target price on Primo Brands from $24.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, March 5th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Primo Brands in a research report on Monday, January 5th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Primo Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.42.

Primo Brands Price Performance

Primo Brands stock opened at $18.33 on Friday. The company’s 50 day simple moving average is $19.71 and its 200-day simple moving average is $19.24. The company has a market capitalization of $6.66 billion, a price-to-earnings ratio of 122.19, a price-to-earnings-growth ratio of 1.32 and a beta of 0.61. Primo Brands has a 1 year low of $14.36 and a 1 year high of $35.85. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.78 and a current ratio of 0.95.

Primo Brands (NYSE:PRMB) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. Primo Brands had a net margin of 0.90% and a return on equity of 14.52%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the company posted $0.13 EPS. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, equities research analysts expect that Primo Brands will post 1.13 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Xponance LLC boosted its holdings in Primo Brands by 4.2% in the fourth quarter. Xponance LLC now owns 13,114 shares of the company’s stock valued at $214,000 after purchasing an additional 528 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its position in shares of Primo Brands by 1.2% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 47,067 shares of the company’s stock worth $1,040,000 after buying an additional 567 shares during the last quarter. Picton Mahoney Asset Management lifted its position in shares of Primo Brands by 65.2% during the 4th quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company’s stock worth $35,000 after buying an additional 850 shares during the last quarter. Madison Asset Management LLC boosted its holdings in shares of Primo Brands by 0.7% in the 4th quarter. Madison Asset Management LLC now owns 144,435 shares of the company’s stock valued at $2,362,000 after buying an additional 943 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Primo Brands by 47.2% in the 3rd quarter. US Bancorp DE now owns 2,948 shares of the company’s stock valued at $65,000 after buying an additional 945 shares in the last quarter. 87.71% of the stock is owned by institutional investors and hedge funds.

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.