Analysts Set Primo Brands Corporation (NYSE:PRMB) Target Price at $25.64

Primo Brands Corporation (NYSE:PRMB) has earned an average recommendation of “Moderate Buy” from the thirteen research firms that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $25.3636.

Several brokerages recently weighed in on PRMB. BMO Capital Markets restated an “outperform” rating and issued a $35.00 price target on shares of Primo Brands in a research report on Friday, January 23rd. Jefferies Financial Group upgraded shares of Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Friday, March 27th. Morgan Stanley restated an “overweight” rating on shares of Primo Brands in a research report on Monday, January 5th. Weiss Ratings upgraded shares of Primo Brands from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 23rd. Finally, Zacks Research upgraded shares of Primo Brands from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th.

Institutional Investors Weigh In On Primo Brands

Several large investors have recently bought and sold shares of PRMB. Dynamic Technology Lab Private Ltd bought a new stake in Primo Brands in the first quarter worth $229,000. Caxton Associates LLP bought a new stake in Primo Brands in the first quarter worth $266,000. American Century Companies Inc. increased its position in Primo Brands by 9.3% during the second 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 position in Primo Brands by 797.8% during the second 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 position in Primo Brands by 29.1% during the second 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. Institutional investors own 87.71% of the company’s stock.

Primo Brands Trading Up 2.7%

Primo Brands stock opened at $20.89 on Tuesday. The stock has a market cap of $7.59 billion, a P/E ratio of 139.25, a PEG ratio of 1.50 and a beta of 0.66. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.95 and a quick ratio of 0.78. Primo Brands has a 1 year low of $14.36 and a 1 year high of $33.71. The firm’s 50 day moving average price is $19.80 and its 200-day moving average price is $18.89.

Primo Brands (NYSE:PRMB) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.06. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Primo Brands had a net margin of 0.90% and a return on equity of 14.52%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 earnings per share. On average, equities analysts predict that Primo Brands will post 1.13 earnings per share for the current fiscal year.

Primo Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Friday, March 6th were given a $0.12 dividend. This is a boost from Primo Brands’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, March 6th. Primo Brands’s dividend payout ratio (DPR) is presently 266.67%.

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.