Analysts Set Primo Brands Corporation (NYSE:PRMB) Price Target at $26.36

Primo Brands Corporation (NYSE:PRMB) has earned a consensus rating of “Moderate Buy” from the thirteen brokerages that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $26.3636.

A number of analysts have recently weighed in on PRMB shares. Wall Street Zen upgraded Primo Brands from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. JPMorgan Chase & Co. upped their price objective on Primo Brands from $26.00 to $29.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Weiss Ratings raised Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Barclays raised their target price on Primo Brands from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Royal Bank Of Canada set a $28.00 price target on shares of Primo Brands in a report on Thursday, April 9th.

Primo Brands Stock Down 0.3%

Shares of NYSE:PRMB opened at $22.72 on Thursday. The company’s fifty day moving average is $24.03 and its two-hundred day moving average is $21.25. 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 has a 1-year low of $14.36 and a 1-year high of $29.02. The stock has a market capitalization of $8.25 billion, a price-to-earnings ratio of 162.30, a price-to-earnings-growth ratio of 1.92 and a beta of 0.73.

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

Primo Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Thursday, June 4th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, June 4th. Primo Brands’s payout ratio is presently 342.86%.

Institutional Trading of Primo Brands

Large investors have recently added to or reduced their stakes in the business. Caption Management LLC acquired a new position in Primo Brands during the 3rd quarter worth $27,000. Harbor Investment Advisory LLC acquired a new position in shares of Primo Brands during the second quarter valued at $37,000. LRI Investments LLC raised its stake in shares of Primo Brands by 203.1% during the fourth quarter. LRI Investments LLC now owns 1,949 shares of the company’s stock valued at $32,000 after purchasing an additional 1,306 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake 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 purchasing an additional 853 shares in the last quarter. Finally, Picton Mahoney Asset Management lifted its holdings in Primo Brands by 65.2% in the fourth 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. 87.71% of the stock is currently owned by institutional investors and hedge funds.

About Primo Brands

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.