Primo Brands (NYSE:PRMB) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Primo Brands (NYSE:PRMB) had its price target upped by investment analysts at Royal Bank of Canada from $35.00 to $38.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 19.65% from the stock’s current price.

A number of other brokerages have also issued reports on PRMB. BMO Capital Markets began coverage on Primo Brands in a research report on Monday. They issued an “outperform” rating and a $40.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Primo Brands in a research report on Monday, November 18th. They issued a “buy” rating and a $33.00 price objective on the stock.

Primo Brands Price Performance

PRMB opened at $31.76 on Monday. The stock has a market capitalization of $12.05 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 0.95 and a beta of 1.09. Primo Brands has a 1 year low of $14.06 and a 1 year high of $32.40. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18.

Institutional Investors Weigh In On Primo Brands

An institutional investor recently bought a new position in Primo Brands stock. Rise Advisors LLC purchased a new stake in Primo Brands Co. (NYSE:PRMB) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 915 shares of the company’s stock, valued at approximately $28,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

Primo Brands Company Profile

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.