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

Primo Brands (NYSE:PRMB) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from $27.00 to $26.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 29.44% from the stock’s current price.

Several other equities analysts have also issued reports on PRMB. Weiss Ratings raised Primo Brands from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 23rd. Jefferies Financial Group raised Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Friday, March 27th. Zacks Research raised Primo Brands from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Royal Bank Of Canada set a $28.00 price target on Primo Brands in a research note on Thursday, April 9th. Finally, Barclays dropped their price target on Primo Brands from $27.00 to $24.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 14th. Nine equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.82.

Primo Brands Trading Up 0.3%

Shares of Primo Brands 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 stock has a fifty day moving average price of $20.04 and a 200 day moving average price of $18.75. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.95 and a quick ratio of 0.78. The firm has a market cap of $7.30 billion, a PE ratio of 133.91, a P/E/G ratio of 1.60 and a beta of 0.66. Primo Brands has a fifty-two week low of $14.36 and a fifty-two week high of $33.70.

Primo Brands (NYSE:PRMB) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. Primo Brands had a return on equity of 14.52% and a net margin of 0.90%.The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.13 earnings per share. On average, equities analysts anticipate that Primo Brands will post 1.28 earnings per share for the current year.

Institutional Investors Weigh In On Primo Brands

Several institutional investors have recently bought and sold shares of PRMB. Caption Management LLC bought a new stake in Primo Brands during the third quarter worth $27,000. LRI Investments LLC grew its holdings in Primo Brands by 203.1% during the fourth quarter. LRI Investments LLC now owns 1,949 shares of the company’s stock worth $32,000 after buying an additional 1,306 shares in the last quarter. Picton Mahoney Asset Management grew its holdings in Primo Brands by 65.2% during the fourth quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company’s stock worth $35,000 after buying an additional 850 shares in the last quarter. Quarry LP grew its holdings in Primo Brands by 516.6% during the fourth quarter. Quarry LP now owns 2,380 shares of the company’s stock worth $39,000 after buying an additional 1,994 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Primo Brands by 21,481.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,374 shares of the company’s stock worth $39,000 after buying an additional 2,363 shares in the last quarter. Institutional investors own 87.71% of the company’s stock.

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.