Deutsche Bank Aktiengesellschaft Raises Primo Brands (NYSE:PRMB) Price Target to $40.00

Primo Brands (NYSE:PRMB) had its price objective boosted by equities research analysts at Deutsche Bank Aktiengesellschaft from $38.00 to $40.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 18.69% from the stock’s previous close.

Several other research analysts also recently commented on PRMB. Royal Bank of Canada raised their price target on shares of Primo Brands from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. raised their price target on shares of Primo Brands from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. BMO Capital Markets started coverage on shares of Primo Brands in a research note on Monday, January 6th. They issued an “outperform” rating and a $40.00 price target on the stock. Finally, TD Securities raised their target price on shares of Primo Brands from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $41.40.

Primo Brands Trading Up 0.1 %

Primo Brands stock opened at $33.70 on Friday. The business has a 50-day moving average price of $32.41. The company has a market cap of $12.78 billion, a price-to-earnings ratio of 40.77, a PEG ratio of 0.78 and a beta of 1.10. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. Primo Brands has a 12-month low of $16.09 and a 12-month high of $35.25.

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

Institutional Trading of Primo Brands

Several institutional investors and hedge funds have recently bought and sold shares of PRMB. Rise Advisors LLC purchased a new position in shares of Primo Brands during the 4th quarter valued at approximately $28,000. SRS Capital Advisors Inc. purchased a new stake in shares of Primo Brands during the fourth quarter worth $30,000. EverSource Wealth Advisors LLC acquired a new position in shares of Primo Brands during the 4th quarter valued at about $30,000. Blue Trust Inc. acquired a new position in shares of Primo Brands during the 4th quarter valued at about $33,000. Finally, R Squared Ltd acquired a new position in Primo Brands in the fourth quarter valued at about $42,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.

About Primo Brands

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.