Primo Brands Corporation (NYSE:PRMB) Stock Has Consensus Price Target of $27.82 According to Analysts

Key Points

• Analysts maintain a moderately bullish view: Fourteen firms rate Primo Brands “Moderate Buy,” including ten buys and four holds, with an average 12-month price target of $27.82 versus the stock’s recent $19.73 price.
• Recent target changes were mixed: TD raised its target to $35 and Royal Bank of Canada to $31, while Barclays cut its target to $26; Deutsche Bank set a lower $21 target.
• Quarterly results exceeded expectations: Primo Brands reported EPS of $0.37 versus the $0.32 consensus and revenue of $1.80 billion, up 3.8% year over year. CEO Eric Foss also bought 84,000 shares, while institutional investors own 87.71% of the company.

Primo Brands Corporation (NYSE:PRMB - Get Free Report) has been given an average recommendation of "Moderate Buy" by the fourteen research firms that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $27.82.

PRMB has been the topic of a number of recent analyst reports. Barclays reduced their price target on shares of Primo Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a research report on Friday, October 16th. JPMorgan Chase & Co. raised their price target on Primo Brands from $26.00 to $29.00 and gave the company an "overweight" rating in a report on Thursday, July 16th. Royal Bank Of Canada lifted their price objective on Primo Brands from $28.00 to $31.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft set a $21.00 target price on Primo Brands in a research report on Monday, October 19th. Finally, TD increased their target price on Primo Brands from $29.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, August 6th.

Insider Activity

In related news, CEO Eric Foss bought 84,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average price of $23.80 per share, with a total value of $1,999,200.00. Following the completion of the transaction, the chief executive officer owned 573,806 shares in the company, valued at $13,656,582.80. The trade was a 17.15% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 32.90% of the stock is owned by company insiders.

Institutional Trading of Primo Brands

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

Primo Brands Stock Up 1.3%

PRMB opened at $19.73 on Friday. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.05 and a quick ratio of 0.86. The firm's fifty day moving average price is $20.47 and its two-hundred day moving average price is $21.39. The company has a market capitalization of $7.15 billion, a P/E ratio of 75.89, a P/E/G ratio of 1.97 and a beta of 0.71. Primo Brands has a fifty-two week low of $14.36 and a fifty-two week high of $26.21.

Primo Brands (NYSE:PRMB - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.05. Primo Brands had a return on equity of 14.24% and a net margin of 1.49%. The business had revenue of $1.80 billion during the quarter, compared to analysts' expectations of $1.77 billion. During the same period in the prior year, the firm posted $0.36 EPS. Primo Brands's quarterly revenue was up 3.8% compared to the same quarter last year. On average, analysts anticipate that Primo Brands will post 1.27 EPS for the current year.

Primo Brands Company Profile

Primo Brands Corporation is a beverage company focused on providing water and hydration products across North America. The company offers bottled water, water dispensers, refill services, filtration products and other beverage options for households, businesses and retail customers.

Its portfolio includes well-known regional and national water brands such as Poland Spring, Deer Park, Ice Mountain, Arrowhead, Ozarka, Zephyrhills, Pure Life and Primo. Products are distributed through retail stores, direct delivery, e-commerce and workplace and residential water services.

Primo Brands was created through the combination of Primo Water Corporation and BlueTriton Brands, a transaction completed in 2024.

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