Primo Brands (NYSE:PRMB) Downgraded to Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Primo Brands from “hold” to “sell,” adding to a mixed analyst picture even though the overall consensus remains Moderate Buy with a $25.82 price target.
• The stock was trading up 4.3% at $23.20, after moving between a 52-week low of $14.36 and high of $33.29; the company has a market cap of $8.43 billion and relatively high leverage with a debt-to-equity ratio of 1.70.
• Primo Brands recently reported Q1 earnings of $0.23 per share, missing estimates by $0.01, while revenue came in at $1.63 billion and beat expectations; revenue rose 0.8% year over year.

Primo Brands (NYSE:PRMB - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

A number of other research firms have also commented on PRMB. Zacks Research upgraded Primo Brands from a "strong sell" rating to a "hold" rating in a research report on Friday, March 6th. Deutsche Bank Aktiengesellschaft reduced their price target on Primo Brands from $24.00 to $19.00 and set a "hold" rating on the stock in a research report on Monday, March 30th. Mizuho upped their price target on Primo Brands from $24.00 to $28.00 and gave the company an "outperform" rating in a research report on Thursday, March 5th. Barclays reduced their price target on Primo Brands from $27.00 to $24.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 14th. Finally, Jefferies Financial Group upgraded Primo Brands from a "hold" rating to a "buy" rating and set a $25.00 price target on the stock in a research report on Friday, March 27th. Nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Primo Brands has a consensus rating of "Moderate Buy" and a consensus price target of $25.82.

Primo Brands Trading Up 4.3%

Shares of PRMB opened at $23.20 on Friday. Primo Brands has a 52-week low of $14.36 and a 52-week high of $33.29. The business's fifty day moving average is $20.14 and its 200-day moving average is $18.72. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.78 and a current ratio of 0.95. The firm has a market cap of $8.43 billion, a price-to-earnings ratio of 165.72, a PEG ratio of 1.78 and a beta of 0.66.

Primo Brands (NYSE:PRMB - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.58 billion. Primo Brands had a net margin of 0.88% and a return on equity of 13.79%. The company's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 EPS. Equities analysts anticipate that Primo Brands will post 1.28 EPS for the current fiscal year.

Institutional Trading of Primo Brands

Several institutional investors and hedge funds have recently modified their holdings of PRMB. Xponance LLC grew its holdings in shares of Primo Brands by 4.2% in the fourth quarter. Xponance LLC now owns 13,114 shares of the company's stock valued at $214,000 after acquiring an additional 528 shares in the last quarter. Picton Mahoney Asset Management grew its holdings in shares of Primo Brands by 65.2% in the fourth 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 in the last quarter. Madison Asset Management LLC grew its holdings in shares of Primo Brands by 0.7% in the fourth quarter. Madison Asset Management LLC now owns 144,435 shares of the company's stock valued at $2,362,000 after acquiring an additional 943 shares in the last quarter. US Bancorp DE grew its holdings in shares of Primo Brands by 47.2% in the third quarter. US Bancorp DE now owns 2,948 shares of the company's stock valued at $65,000 after acquiring an additional 945 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Primo Brands by 102.4% in the second quarter. EverSource Wealth Advisors LLC now owns 2,091 shares of the company's stock valued at $62,000 after acquiring an additional 1,058 shares in the last quarter. 87.71% of the stock is owned by hedge funds and other institutional investors.

About Primo Brands

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.

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