Primo Brands (NYSE:PRMB) Price Target Lowered to $26.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan cut its price target on Primo Brands to $26.00 (from $27.00) while maintaining an "overweight" rating, a target that implies roughly a 29% upside from the stock's current level; the consensus from MarketBeat is a "Moderate Buy" with an average target of $25.82 (9 Buy, 4 Hold).
• Primo beat quarterly expectations on Feb. 26 with EPS of $0.26 versus $0.20 and revenue of $1.55 billion (up 11.2% year-over-year), and analysts project about $1.28 in earnings per share for the current year.
• The stock traded near $20.09 with a $7.3 billion market cap, a high P/E (~133.9) and PEG of 1.6, a 1‑year range of $14.36–$33.70, and heavy institutional ownership (~87.7%) including several funds that materially increased positions.

Primo Brands (NYSE:PRMB - Get Free Report) had its price target cut by equities research analysts at JPMorgan Chase & Co. from $27.00 to $26.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 29.44% from the company's current price.

A number of other research analysts have also recently issued reports on PRMB. Royal Bank Of Canada set a $28.00 target price on Primo Brands in a research report on Thursday, April 9th. TD Securities lifted their target price on Primo Brands from $27.00 to $29.00 and gave the company a "buy" rating in a research report on Friday, February 27th. Jefferies Financial Group upgraded Primo Brands from a "hold" rating to a "buy" rating and set a $25.00 target price on the stock in a research report on Friday, March 27th. Zacks Research upgraded Primo Brands from a "strong sell" rating to a "hold" rating in a research report on Friday, March 6th. Finally, Barclays decreased their target price 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. Nine investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $25.82.

Primo Brands Price Performance

PRMB stock traded up $0.06 during midday trading on Monday, reaching $20.09. The company had a trading volume of 4,498,108 shares, compared to its average volume of 5,389,364. The company has a market capitalization of $7.30 billion, a price-to-earnings ratio of 133.91, a price-to-earnings-growth ratio of 1.60 and a beta of 0.66. The stock has a 50 day moving average price of $20.04 and a 200-day moving average price of $18.75. Primo Brands has a 1-year low of $14.36 and a 1-year high of $33.70. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.95 and a quick ratio of 0.78.

Primo Brands (NYSE:PRMB - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.06. Primo Brands had a return on equity of 14.52% and a net margin of 0.90%.The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the firm earned $0.13 earnings per share. Primo Brands's revenue for the quarter was up 11.2% compared to the same quarter last year. Equities research analysts expect that Primo Brands will post 1.28 earnings per share for the current year.

Institutional Trading of Primo Brands

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Y Intercept Hong Kong Ltd grew its holdings in shares of Primo Brands by 67.2% during the first quarter. Y Intercept Hong Kong Ltd now owns 37,023 shares of the company's stock worth $697,000 after purchasing an additional 14,882 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. grew its holdings in shares of Primo Brands by 91.5% during the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 482,493 shares of the company's stock worth $9,085,000 after purchasing an additional 230,494 shares during the last quarter. Fulton Bank N.A. grew its holdings in shares of Primo Brands by 7.0% during the first quarter. Fulton Bank N.A. now owns 26,018 shares of the company's stock worth $490,000 after purchasing an additional 1,707 shares during the last quarter. Deprince Race & Zollo Inc. grew its holdings in shares of Primo Brands by 442.2% during the first quarter. Deprince Race & Zollo Inc. now owns 3,833,041 shares of the company's stock worth $72,176,000 after purchasing an additional 3,126,083 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Primo Brands in the first quarter worth approximately $413,000. 87.71% of the stock is currently owned by institutional investors.

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.

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