Primo Brands (NYSE:PRMB) Stock Price Target Raised at Barclays

Primo Brands (NYSE:PRMB) had its price objective upped by analysts at Barclays from $26.00 to $29.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 22.96% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. Morgan Stanley reissued an “overweight” rating and set a $29.00 target price on shares of Primo Brands in a research note on Friday, August 7th. Zacks Research lowered shares of Primo Brands from a “hold” rating to a “strong sell” rating in a research note on Friday, October 30th. Royal Bank Of Canada restated an “outperform” rating on shares of Primo Brands in a research note on Wednesday. JPMorgan Chase & Co. cut their price target on Primo Brands from $30.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, October 30th. Finally, TD boosted their price objective on Primo Brands from $29.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Primo Brands has a consensus rating of “Moderate Buy” and an average price target of $27.82.

Primo Brands Stock Performance

Shares of PRMB traded up $1.19 during midday trading on Monday, hitting $23.58. 1,126,927 shares of the stock traded hands, compared to its average volume of 4,649,175. The business’s 50 day moving average price is $20.31 and its two-hundred day moving average price is $21.46. The firm has a market capitalization of $8.55 billion, a PE ratio of 42.01, a price-to-earnings-growth ratio of 2.26 and a beta of 0.73. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.86 and a current ratio of 1.05. Primo Brands has a 1-year low of $14.80 and a 1-year high of $26.21.

Primo Brands (NYSE:PRMB) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. Primo Brands had a net margin of 3.06% and a return on equity of 14.64%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter last year, the company earned $0.41 EPS. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. Equities research analysts predict that Primo Brands will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Primo Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in shares of Primo Brands by 76.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,962 shares of the company’s stock valued at $37,000 after purchasing an additional 853 shares during the period. Glenmede Trust Co. NA raised its stake in shares of Primo Brands by 5.3% in the 1st quarter. Glenmede Trust Co. NA now owns 21,227 shares of the company’s stock worth $400,000 after buying an additional 1,075 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Primo Brands by 64.4% in the 2nd quarter. IFP Advisors Inc now owns 3,069 shares of the company’s stock worth $75,000 after buying an additional 1,202 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Primo Brands by 13.9% in the first quarter. Sanctuary Advisors LLC now owns 12,309 shares of the company’s stock valued at $232,000 after buying an additional 1,502 shares during the period. Finally, Harbor Investment Advisory LLC acquired a new stake in shares of Primo Brands in the second quarter valued at $37,000. 87.71% of the stock is 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.