Deutsche Bank Aktiengesellschaft Boosts Primo Brands (NYSE:PRMB) Price Target to $40.00

Primo Brands (NYSE:PRMB) had its price target boosted by Deutsche Bank Aktiengesellschaft from $38.00 to $40.00 in a research report released on Friday morning,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. lifted their price target on Primo Brands from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. BMO Capital Markets began coverage on Primo Brands in a report on Monday, January 6th. They set an “outperform” rating and a $40.00 price target for the company. TD Securities lifted their price target on Primo Brands from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Royal Bank of Canada lifted their price target on Primo Brands from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Primo Brands presently has a consensus rating of “Buy” and an average price target of $41.40.

Primo Brands Stock Up 0.1 %

PRMB opened at $33.70 on Friday. Primo Brands has a 12-month low of $16.09 and a 12-month high of $35.25. The firm has a market capitalization of $12.78 billion, a PE ratio of 40.77, a price-to-earnings-growth ratio of 0.78 and a beta of 1.10. The company has a 50 day simple moving average of $32.35. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18.

Primo Brands (NYSE:PRMB) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.08). The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.58 billion. Primo Brands had a positive return on equity of 10.27% and a negative net margin of 2.74%. As a group, analysts expect that Primo Brands will post 1.13 earnings per share for the current year.

Primo Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Primo Brands’s previous quarterly dividend of $0.09.

Hedge Funds Weigh In On Primo Brands

A number of hedge funds have recently added to or reduced their stakes in the stock. Rise Advisors LLC bought a new position in Primo Brands during the 4th quarter worth $28,000. SRS Capital Advisors Inc. bought a new position in shares of Primo Brands in the 4th quarter valued at $30,000. EverSource Wealth Advisors LLC bought a new position in shares of Primo Brands in the 4th quarter valued at $30,000. Blue Trust Inc. bought a new position in shares of Primo Brands in the 4th quarter valued at $33,000. Finally, R Squared Ltd bought a new position in shares of Primo Brands in the 4th quarter valued at $42,000. Institutional investors own 87.71% of the company’s stock.

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.