Primo Brands (NYSE:PRMB) Given New $27.00 Price Target at JPMorgan Chase & Co.

Primo Brands (NYSE:PRMB) had its target price increased by investment analysts at JPMorgan Chase & Co. from $26.00 to $27.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 12.29% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Barclays increased their target price on Primo Brands from $26.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday. Zacks Research cut Primo Brands from a “hold” rating to a “strong sell” rating in a report on Friday, October 30th. TD increased their price objective on shares of Primo Brands from $29.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. TD Cowen reiterated a “buy” rating on shares of Primo Brands in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Primo Brands in a research report on Wednesday, November 4th. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.82.

Primo Brands Price Performance

Shares of NYSE:PRMB traded down $0.09 during midday trading on Tuesday, hitting $24.05. 1,196,253 shares of the stock were exchanged, compared to its average volume of 4,668,580. The stock has a market cap of $8.71 billion, a P/E ratio of 42.97, a PEG ratio of 2.12 and a beta of 0.73. 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 has a twelve month low of $14.80 and a twelve month high of $26.21. The company has a 50 day moving average price of $20.33 and a 200-day moving average price of $21.48.

Primo Brands (NYSE:PRMB) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. Primo Brands had a net margin of 1.49% and a return on equity of 14.24%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the previous year, the business posted $0.41 earnings per share. The company’s revenue was up 3.1% on a year-over-year basis. On average, research analysts forecast that Primo Brands will post 1.27 earnings per share for the current year.

Institutional Investors Weigh In On Primo Brands

Hedge funds and other institutional investors have recently modified their holdings of the stock. Harbor Investment Advisory LLC acquired a new stake in shares of Primo Brands in the 2nd quarter worth approximately $37,000. EverSource Wealth Advisors LLC lifted its position in Primo Brands by 76.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,962 shares of the company’s stock worth $37,000 after purchasing an additional 853 shares during the period. CX Institutional acquired a new stake in Primo Brands in the third quarter worth approximately $38,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Primo Brands during the 3rd quarter valued at $39,000. Finally, IFP Advisors Inc boosted its stake in Primo Brands by 64.4% during the 2nd quarter. IFP Advisors Inc now owns 3,069 shares of the company’s stock valued at $75,000 after purchasing an additional 1,202 shares in the last quarter. 87.71% of the stock is currently owned by institutional investors.

Primo Brands Company Profile

Primo Brands is a North American beverage company focused on bottled water and water-related products and services. Its offerings include spring, purified and mineral water, water dispensers and filtration products, as well as water delivery for homes and businesses.

The company’s portfolio includes brands such as Poland Spring, Deer Park, Pure Life, Ice Mountain, Ozarka, Arrowhead and Primo. Its products are sold through retail channels and delivered directly to consumers and businesses.

Primo Brands was formed in 2024 through the combination of Primo Water Corporation and BlueTriton Brands.