Primo Brands (NYSE:PRMB) Coverage Initiated by Analysts at Mizuho

Equities research analysts at Mizuho assumed coverage on shares of Primo Brands (NYSE:PRMB) in a research note issued on Monday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $43.00 price target on the stock. Mizuho’s target price suggests a potential upside of 34.59% from the stock’s current price.

Several other research firms have also recently weighed in on PRMB. Truist Financial initiated coverage on Primo Brands in a report on Friday, April 4th. They set a “buy” rating and a $42.00 price target on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Primo Brands from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, February 28th. TD Securities began coverage on shares of Primo Brands in a report on Tuesday, April 8th. They set a “buy” rating and a $48.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price objective on Primo Brands from $38.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Primo Brands currently has a consensus rating of “Buy” and an average target price of $41.71.

Primo Brands Price Performance

PRMB stock opened at $31.95 on Monday. The firm has a market cap of $12.15 billion, a PE ratio of 39.82, a price-to-earnings-growth ratio of 0.78 and a beta of 0.83. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. The stock’s 50 day moving average is $32.95. Primo Brands has a 1 year low of $24.41 and a 1 year high of $35.85.

Primo Brands (NYSE:PRMB) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Primo Brands had a positive return on equity of 10.27% and a negative net margin of 2.74%. The firm’s revenue was up 42.1% compared to the same quarter last year. On average, equities research analysts anticipate that Primo Brands will post 1.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Primo Brands

Several hedge funds and other institutional investors have recently bought and sold shares of PRMB. Green Alpha Advisors LLC bought a new stake in shares of Primo Brands in the 4th quarter worth $835,000. PNC Financial Services Group Inc. purchased a new position in shares of Primo Brands in the 4th quarter worth about $252,000. Allspring Global Investments Holdings LLC bought a new stake in Primo Brands in the 4th quarter worth approximately $111,169,000. Sei Investments Co. bought a new stake in Primo Brands in the fourth quarter valued at approximately $10,548,000. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in Primo Brands during the 4th quarter valued at $4,350,000. 87.71% of the stock is owned by institutional investors.

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.