Deutsche Bank Aktiengesellschaft Cuts Primo Brands (NYSE:PRMB) Price Target to $19.00
by Michael Walen · The Markets DailyPrimo Brands (NYSE:PRMB – Get Free Report) had its target price dropped by equities research analysts at Deutsche Bank Aktiengesellschaft from $24.00 to $19.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 3.57% from the stock’s previous close.
A number of other research firms have also commented on PRMB. Zacks Research raised Primo Brands from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Jefferies Financial Group upgraded Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Friday. TD Securities boosted their target price on Primo Brands from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Royal Bank Of Canada upped their target price on shares of Primo Brands to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Primo Brands in a research note on Monday, January 5th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.83.
Check Out Our Latest Report on PRMB
Primo Brands Stock Up 0.5%
Shares of NYSE PRMB traded up $0.10 during midday trading on Monday, hitting $18.35. The stock had a trading volume of 1,528,288 shares, compared to its average volume of 5,984,189. The business’s 50 day moving average is $19.71 and its 200-day moving average is $19.21. Primo Brands has a 52 week low of $14.36 and a 52 week high of $35.85. The company has a quick ratio of 0.78, a current ratio of 0.95 and a debt-to-equity ratio of 1.70. The company has a market cap of $6.66 billion, a P/E ratio of 122.30, a PEG ratio of 1.32 and a beta of 0.61.
Primo Brands (NYSE:PRMB – Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.06. Primo Brands had a net margin of 0.90% and a return on equity of 14.52%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the firm earned $0.13 earnings per share. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. As a group, analysts predict that Primo Brands will post 1.13 EPS for the current year.
Institutional Investors Weigh In On Primo Brands
A number of institutional investors have recently modified their holdings of PRMB. Caption Management LLC acquired a new position in Primo Brands in the third quarter worth about $27,000. LRI Investments LLC raised its stake in Primo Brands by 203.1% during the fourth quarter. LRI Investments LLC now owns 1,949 shares of the company’s stock valued at $32,000 after buying an additional 1,306 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Primo Brands by 102.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,091 shares of the company’s stock worth $62,000 after buying an additional 1,058 shares during the last quarter. Byrne Asset Management LLC acquired a new position in shares of Primo Brands in the 3rd quarter worth approximately $47,000. Finally, Picton Mahoney Asset Management increased its holdings in shares of Primo Brands by 65.2% in the 4th quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company’s stock valued at $35,000 after acquiring an additional 850 shares during the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.
Primo Brands Company Profile
Primo Brands (NYSE: PRMB) is a consumer packaged beverage company that was established as an independent entity following a corporate spin‐off in 2023. The company specializes in the production, marketing and distribution of a broad portfolio of bottled water products, including purified, mineral and sparkling varieties. Through its focus on quality control and innovation, Primo Brands aims to deliver clean, great-tasting water in formats tailored to both at-home consumption and on-the-go lifestyles.
Its product range spans multi-serve and single-serve bottles, aluminum cans and other eco-friendly packaging solutions.