Primo Brands Corporation (NYSE:PRMB) Stock Has Consensus Price Target of $27.82 According to Analysts

Shares of Primo Brands Corporation (NYSE:PRMB) have been given an average recommendation of “Moderate Buy” by the fourteen brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $27.55.

PRMB has been the subject of several analyst reports. Zacks Research downgraded Primo Brands from a “hold” rating to a “strong sell” rating in a research note on Friday, October 30th. TD Cowen restated a “buy” rating on shares of Primo Brands in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft set a $21.00 price target on Primo Brands in a report on Monday, October 19th. Morgan Stanley reiterated an “overweight” rating and issued a $29.00 price objective on shares of Primo Brands in a research report on Friday, August 7th. Finally, Barclays dropped their price objective on shares of Primo Brands from $29.00 to $26.00 and set an “overweight” rating on the stock in a research note on Friday, October 16th.

Insider Activity at Primo Brands

In other news, CEO Eric Foss bought 84,000 shares of the stock in a transaction dated Monday, August 10th. The shares were acquired at an average price of $23.80 per share, with a total value of $1,999,200.00. Following the completion of the acquisition, the chief executive officer directly owned 573,806 shares in the company, valued at approximately $13,656,582.80. The trade was a 17.15% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 32.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC grew its holdings in Primo Brands by 62.0% in the second quarter. Squarepoint Ops LLC now owns 761,563 shares of the company’s stock valued at $18,613,000 after purchasing an additional 291,412 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Primo Brands during the second quarter worth approximately $1,735,000. Royal Bank of Canada raised its stake in Primo Brands by 127.1% during the first quarter. Royal Bank of Canada now owns 130,877 shares of the company’s stock worth $2,464,000 after purchasing an additional 73,253 shares during the period. Sterling Capital Management LLC raised its stake in Primo Brands by 1,569.2% during the third quarter. Sterling Capital Management LLC now owns 122,568 shares of the company’s stock worth $2,335,000 after purchasing an additional 115,225 shares during the period. Finally, Wellington Management Group LLP acquired a new position in shares of Primo Brands in the 2nd quarter valued at $4,494,000. 87.71% of the stock is owned by hedge funds and other institutional investors.

Primo Brands Price Performance

Shares of NYSE PRMB opened at $21.00 on Friday. The stock has a market cap of $7.61 billion, a P/E ratio of 17.75, a P/E/G ratio of 2.08 and a beta of 0.73. Primo Brands has a twelve month low of $14.36 and a twelve month high of $26.21. The stock has a 50 day moving average of $20.33 and a two-hundred day moving average of $21.42. The company has a current ratio of 1.05, a quick ratio of 0.86 and a debt-to-equity ratio of 1.71.

Primo Brands (NYSE:PRMB) last announced its earnings results on Wednesday, August 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. Primo Brands had a net margin of 1.49% and a return on equity of 14.24%. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the firm posted $0.36 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research analysts forecast that Primo Brands will post 1.27 earnings per share for the current year.

About Primo Brands

Primo Brands Corporation is a beverage company focused on providing water and hydration products across North America. The company offers bottled water, water dispensers, refill services, filtration products and other beverage options for households, businesses and retail customers.

Its portfolio includes well-known regional and national water brands such as Poland Spring, Deer Park, Ice Mountain, Arrowhead, Ozarka, Zephyrhills, Pure Life and Primo. Products are distributed through retail stores, direct delivery, e-commerce and workplace and residential water services.

Primo Brands was created through the combination of Primo Water Corporation and BlueTriton Brands, a transaction completed in 2024.