Primo Brands (NYSE:PRMB) Stock Price Expected to Rise, TD Securities Analyst Says

Primo Brands (NYSE:PRMB) had its price objective increased by TD Securities from $32.00 to $40.00 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

PRMB has been the topic of a number of other research reports. BMO Capital Markets assumed coverage on shares of Primo Brands in a report on Monday, January 6th. They issued an “outperform” rating and a $40.00 price target on the stock. Royal Bank of Canada raised their target price on Primo Brands from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Primo Brands in a research report on Monday, November 18th. They set a “buy” rating and a $33.00 price target for the company.

Primo Brands Stock Performance

Shares of Primo Brands stock opened at $32.34 on Monday. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. Primo Brands has a 52-week low of $14.10 and a 52-week high of $33.65. The business has a 50 day moving average price of $30.88. The company has a market capitalization of $12.27 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 0.81 and a beta of 1.09.

Primo Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Friday, November 22nd. Primo Brands’s payout ratio is 27.95%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rise Advisors LLC bought a new stake in shares of Primo Brands during the fourth quarter valued at approximately $28,000. R Squared Ltd bought a new position in Primo Brands in the fourth quarter worth $42,000. Nisa Investment Advisors LLC purchased a new position in Primo Brands during the fourth quarter valued at $176,000. Entropy Technologies LP bought a new stake in shares of Primo Brands during the 4th quarter valued at $236,000. Finally, Drive Wealth Management LLC purchased a new stake in shares of Primo Brands in the 4th quarter worth about $241,000. Hedge funds and other institutional investors own 87.71% of the company’s stock.

About Primo Brands

Primo Water Corporation is a leading pure-play water solutions provider in North America and Europe. Primo operates largely under a recurring razor/razorblade revenue model. The razor in Primo’s revenue model is its industry leading line-up of sleek and innovative water dispensers, which are sold through major retailers and online at various price points or leased to customers.