Primo Brands' (PRMB) Hold (C-) Rating Reiterated at Weiss Ratings

Key Points

• Primo Brands' stock retains a "hold (C-)" rating from Weiss Ratings amid various updates from other analysts, with price targets ranging from $25.00 to $40.00.
• In the last quarter, Primo Brands reported a missed earnings per share estimate of $0.36, down from expected $0.41, with revenue also falling short at $1.73 billion.
• Insider purchases increased ownership stakes, with key directors buying shares, while institutional ownership stands at 87.71% following significant trading activity from large investors.

Primo Brands (NYSE:PRMB - Get Free Report)'s stock had its "hold (c-)" rating restated by Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other equities research analysts also recently weighed in on PRMB. TD Securities cut their price target on Primo Brands from $48.00 to $35.00 and set a "buy" rating on the stock in a report on Friday, August 8th. The Goldman Sachs Group initiated coverage on Primo Brands in a report on Thursday, September 11th. They set a "neutral" rating and a $25.00 price target on the stock. Mizuho cut their price target on Primo Brands from $43.00 to $40.00 and set an "outperform" rating on the stock in a report on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $26.00 price target on shares of Primo Brands in a report on Friday, August 8th. Finally, Barclays cut their price target on Primo Brands from $40.00 to $38.00 and set an "overweight" rating on the stock in a report on Monday, June 16th. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $35.00.

Primo Brands Price Performance

PRMB stock opened at $21.87 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.88 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $8.17 billion, a PE ratio of -198.82, a P/E/G ratio of 0.58 and a beta of 0.76. Primo Brands has a 12-month low of $21.45 and a 12-month high of $35.85. The business's fifty day moving average price is $24.01 and its 200 day moving average price is $28.90.

Primo Brands (NYSE:PRMB - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.05). The firm had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.83 billion. Primo Brands had a negative net margin of 1.20% and a positive return on equity of 9.64%. The company's revenue was up 31.6% on a year-over-year basis. Primo Brands has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Primo Brands will post 1.13 EPS for the current year.

Insider Transactions at Primo Brands

In other news, Director Steven P. Stanbrook bought 12,400 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was purchased at an average cost of $24.04 per share, with a total value of $298,096.00. Following the transaction, the director directly owned 125,025 shares in the company, valued at $3,005,601. This trade represents a 11.01% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael John Cramer bought 4,000 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The stock was purchased at an average cost of $24.46 per share, with a total value of $97,840.00. Following the completion of the transaction, the director owned 12,762 shares in the company, valued at approximately $312,158.52. This trade represents a 45.65% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 24,685 shares of company stock valued at $595,770. 58.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Primo Brands

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Primo Brands by 28.7% in the 1st quarter. Vanguard Group Inc. now owns 19,704,538 shares of the company's stock valued at $699,314,000 after purchasing an additional 4,389,327 shares during the period. Viking Global Investors LP boosted its position in shares of Primo Brands by 290.2% in the 2nd quarter. Viking Global Investors LP now owns 19,602,116 shares of the company's stock valued at $580,615,000 after purchasing an additional 14,578,589 shares during the period. Boston Partners boosted its position in shares of Primo Brands by 13.7% in the 2nd quarter. Boston Partners now owns 8,089,479 shares of the company's stock valued at $239,551,000 after purchasing an additional 971,939 shares during the period. Eminence Capital LP boosted its position in shares of Primo Brands by 48.3% in the 1st quarter. Eminence Capital LP now owns 7,019,075 shares of the company's stock valued at $249,107,000 after purchasing an additional 2,284,912 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of Primo Brands by 2,486.6% in the 2nd quarter. Alliancebernstein L.P. now owns 5,867,110 shares of the company's stock valued at $173,784,000 after purchasing an additional 5,640,287 shares during the period. 87.71% of the stock is owned by institutional investors and hedge funds.

Primo Brands Company Profile

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.

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