Primo Brands Corporation (NYSE:PRMB) Receives $25.82 Consensus Target Price from Analysts

Shares of Primo Brands Corporation (NYSE:PRMB) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Four 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 $25.9091.

A number of equities analysts have issued reports on PRMB shares. JPMorgan Chase & Co. cut their target price on Primo Brands from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, May 4th. TD Securities upped their target price on Primo Brands from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Deutsche Bank Aktiengesellschaft cut their target price on Primo Brands from $24.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, March 30th. Wall Street Zen lowered Primo Brands from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Jefferies Financial Group raised Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Friday, March 27th.

Institutional Investors Weigh In On Primo Brands

A number of institutional investors have recently made changes to their positions in PRMB. Dynamic Technology Lab Private Ltd bought a new stake in shares of Primo Brands in the 1st quarter valued at approximately $229,000. Caxton Associates LLP bought a new stake in shares of Primo Brands in the 1st quarter valued at approximately $266,000. American Century Companies Inc. increased its holdings in shares of Primo Brands by 9.3% in the 2nd quarter. American Century Companies Inc. now owns 27,226 shares of the company’s stock valued at $806,000 after acquiring an additional 2,318 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Primo Brands by 797.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 54,589 shares of the company’s stock valued at $1,617,000 after acquiring an additional 48,509 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Primo Brands by 29.1% in the 2nd quarter. Invesco Ltd. now owns 301,535 shares of the company’s stock valued at $8,931,000 after acquiring an additional 67,930 shares during the last quarter. 87.71% of the stock is currently owned by institutional investors.

Primo Brands Stock Performance

Shares of PRMB opened at $23.38 on Friday. The business’s 50 day moving average is $20.25 and its two-hundred day moving average is $18.75. Primo Brands has a 52-week low of $14.36 and a 52-week high of $33.29. The firm has a market cap of $8.48 billion, a price-to-earnings ratio of 166.96, a PEG ratio of 1.97 and a beta of 0.66. The company has a quick ratio of 0.78, a current ratio of 0.98 and a debt-to-equity ratio of 1.72.

Primo Brands (NYSE:PRMB) last announced its earnings results 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). Primo Brands had a net margin of 0.88% and a return on equity of 13.98%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the company earned $0.29 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. Analysts forecast that Primo Brands will post 1.28 EPS for the current fiscal year.

Primo Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Thursday, June 4th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Thursday, June 4th. Primo Brands’s payout ratio is 342.86%.

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.