Primo Brands (NYSE:PRMB) Given New $40.00 Price Target at Deutsche Bank Aktiengesellschaft

Primo Brands (NYSE:PRMB) had its price objective raised by stock analysts at Deutsche Bank Aktiengesellschaft from $38.00 to $40.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 18.81% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. TD Securities upped their price target on Primo Brands from $40.00 to $48.00 and gave the company a “buy” rating in a report on Friday, February 21st. JPMorgan Chase & Co. lifted their price target on 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 began 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 for the company. Finally, Royal Bank of Canada lifted their target price on shares of Primo Brands from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Primo Brands presently has a consensus rating of “Buy” and an average price target of $41.40.

Primo Brands Price Performance

Primo Brands stock opened at $33.67 on Friday. Primo Brands has a 12-month low of $16.03 and a 12-month high of $35.25. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $12.77 billion, a PE ratio of 41.05, a PEG ratio of 0.78 and a beta of 1.10. The company has a 50 day moving average of $32.29.

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

Institutional Trading of Primo Brands

A number of hedge funds have recently made changes to their positions in the stock. Rise Advisors LLC purchased a new position in Primo Brands during the fourth quarter valued at approximately $28,000. SRS Capital Advisors Inc. acquired a new stake in shares of Primo Brands during the 4th quarter valued at $30,000. EverSource Wealth Advisors LLC purchased a new position in shares of Primo Brands during the 4th quarter valued at $30,000. Blue Trust Inc. acquired a new position in shares of Primo Brands in the fourth quarter worth $33,000. Finally, R Squared Ltd purchased a new stake in shares of Primo Brands during the fourth quarter worth $42,000. 87.71% of the stock is owned by hedge funds and other 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.