JPMorgan Chase & Co. Increases Primo Brands (NYSE:PRMB) Price Target to $41.00

Primo Brands (NYSE:PRMB) had its target price hoisted by stock analysts at JPMorgan Chase & Co. from $38.00 to $41.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 25.40% from the stock’s current price.

Several other research analysts have also weighed in on the stock. BMO Capital Markets started coverage on shares of Primo Brands in a research note on Monday, January 6th. They set an “outperform” rating and a $40.00 price objective on the stock. Royal Bank of Canada boosted their price objective 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Primo Brands in a research note on Monday, November 18th. They set a “buy” rating and a $33.00 price objective on the stock. Finally, TD Securities boosted their price objective on shares of Primo Brands from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $38.40.

Primo Brands Stock Up 0.3 %

Shares of NYSE:PRMB traded up $0.11 during midday trading on Friday, reaching $32.70. 242,236 shares of the company were exchanged, compared to its average volume of 1,848,944. Primo Brands has a fifty-two week low of $14.10 and a fifty-two week high of $34.14. 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 fifty day moving average price is $32.04. The firm has a market cap of $12.40 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 0.79 and a beta of 1.10.

Primo Brands (NYSE:PRMB) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.08). Primo Brands had a return on equity of 8.80% and a net margin of 13.63%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.58 billion. As a group, analysts forecast that Primo Brands will post 0.91 earnings per share for the current year.

Institutional Trading of Primo Brands

Institutional investors have recently bought and sold shares of the business. Rise Advisors LLC bought a new stake in Primo Brands in the 4th quarter valued at about $28,000. SRS Capital Advisors Inc. bought a new stake in shares of Primo Brands during the 4th quarter worth approximately $30,000. EverSource Wealth Advisors LLC bought a new stake in shares of Primo Brands during the 4th quarter worth approximately $30,000. Blue Trust Inc. bought a new stake in shares of Primo Brands during the 4th quarter worth approximately $33,000. Finally, R Squared Ltd bought a new stake in shares of Primo Brands during the 4th quarter worth approximately $42,000. Institutional investors own 87.71% of the company’s stock.

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.