Primo Brands (NYSE:PRMB) Price Target Raised to $48.00 at TD Securities

Primo Brands (NYSE:PRMB) had its target price increased by equities researchers at TD Securities from $40.00 to $48.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ price target would suggest a potential upside of 41.20% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets initiated coverage on shares of Primo Brands in a report on Monday, January 6th. They set an “outperform” rating and a $40.00 price target for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Primo Brands in a report on Monday, November 18th. They set a “buy” rating and a $33.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on shares of Primo Brands from $38.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Royal Bank of Canada boosted their price objective on shares of Primo Brands from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Primo Brands currently has an average rating of “Buy” and an average price target of $40.00.

Primo Brands Stock Up 4.3 %

NYSE:PRMB opened at $34.00 on Friday. The firm’s fifty day moving average price is $32.10. Primo Brands has a 52 week low of $14.10 and a 52 week high of $34.53. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. The company has a market cap of $12.89 billion, a price-to-earnings ratio of 39.26, a P/E/G ratio of 0.78 and a beta of 1.10.

Primo Brands (NYSE:PRMB) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.08). Primo Brands had a negative net margin of 2.74% and a positive return on equity of 10.27%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.58 billion. As a group, analysts anticipate that Primo Brands will post 1.13 EPS for the current year.

Institutional Trading of Primo Brands

A number of hedge funds and other institutional investors have recently modified their holdings of PRMB. Rise Advisors LLC purchased a new stake in shares of Primo Brands in the 4th quarter worth about $28,000. Fulton Bank N.A. purchased a new stake in shares of Primo Brands in the 4th quarter worth about $669,000. Green Alpha Advisors LLC purchased a new stake in shares of Primo Brands in the 4th quarter worth about $835,000. Procyon Advisors LLC purchased a new stake in shares of Primo Brands in the 4th quarter worth about $553,000. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of Primo Brands in the 4th quarter worth about $176,000. 87.71% of the stock is owned by hedge funds and other institutional investors.

Primo Brands Company Profile

Primo Brands Corp. is a branded beverage company, which focuses on healthy hydration. It delivers sustainably and domestically sourced diversified offerings across products, formats, channels, price points and consumer occasions, distributed in the United States and Canada. The company provides water filtration units for home and business consumers across North America.