Deutsche Bank Aktiengesellschaft Has Lowered Expectations for Primo Brands (NYSE:PRMB) Stock Price

Primo Brands (NYSE:PRMB) had its price target lowered by stock analysts at Deutsche Bank Aktiengesellschaft from $24.00 to $19.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 0.82% from the company’s previous close.

Other analysts have also issued research reports about the company. Mizuho boosted their price target on Primo Brands from $24.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, March 5th. BMO Capital Markets reiterated an “outperform” rating and set a $35.00 price objective on shares of Primo Brands in a research note on Friday, January 23rd. Zacks Research raised Primo Brands from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. JPMorgan Chase & Co. reduced their target price on shares of Primo Brands from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, December 18th. Finally, Royal Bank Of Canada upped their target price on shares of Primo Brands to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, February 24th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.83.

Primo Brands Stock Performance

NYSE PRMB opened at $18.85 on Monday. Primo Brands has a twelve month low of $14.36 and a twelve month high of $35.85. The company has a quick ratio of 0.78, a current ratio of 0.95 and a debt-to-equity ratio of 1.70. The stock has a market cap of $6.84 billion, a P/E ratio of 125.64, a PEG ratio of 1.34 and a beta of 0.61. The company’s 50-day simple moving average is $19.71 and its 200 day simple moving average is $19.13.

Primo Brands (NYSE:PRMB) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. Primo Brands had a net margin of 0.90% and a return on equity of 14.52%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the company earned $0.13 earnings per share. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, research analysts forecast that Primo Brands will post 1.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PRMB. Xponance LLC grew its holdings in shares of Primo Brands by 4.2% in the 4th quarter. Xponance LLC now owns 13,114 shares of the company’s stock valued at $214,000 after buying an additional 528 shares during the period. Dynamic Advisor Solutions LLC raised its stake in Primo Brands by 1.2% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 47,067 shares of the company’s stock worth $1,040,000 after buying an additional 567 shares during the period. Picton Mahoney Asset Management raised its stake in Primo Brands by 65.2% during the 4th quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company’s stock worth $35,000 after buying an additional 850 shares during the period. Madison Asset Management LLC lifted its holdings in Primo Brands by 0.7% during the fourth quarter. Madison Asset Management LLC now owns 144,435 shares of the company’s stock worth $2,362,000 after acquiring an additional 943 shares in the last quarter. Finally, US Bancorp DE grew its stake in 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 during the period. 87.71% of the stock is 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.