Primo Brands’ (PRMB) Hold (C-) Rating Reiterated at Weiss Ratings

Primo Brands (NYSE:PRMB)‘s stock had its “hold (c-)” rating reiterated by equities research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other brokerages also recently issued reports on PRMB. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $26.00 target price on shares of Primo Brands in a research note on Friday, August 8th. The Goldman Sachs Group initiated coverage on Primo Brands in a research note on Thursday, September 11th. They set a “neutral” rating and a $25.00 target price for the company. Bank of America cut their target price on Primo Brands from $42.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, July 11th. Mizuho cut their target price on Primo Brands from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, August 20th. Finally, Zacks Research raised Primo Brands from a “strong sell” rating to a “hold” rating in a research note on Monday. Nine investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.00.

Primo Brands Stock Down 0.4%

PRMB opened at $21.87 on Wednesday. The business has a 50 day moving average price of $24.01 and a two-hundred day moving average price of $28.90. The company has a quick ratio of 0.88, a current ratio of 1.06 and a debt-to-equity ratio of 1.55. The company has a market cap of $8.17 billion, a PE ratio of -198.82, a P/E/G ratio of 0.58 and a beta of 0.76. Primo Brands has a 52 week low of $21.45 and a 52 week high of $35.85.

Primo Brands (NYSE:PRMB) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.05). The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Primo Brands had a negative net margin of 1.20% and a positive return on equity of 9.64%. The firm’s revenue was up 31.6% on a year-over-year basis. Primo Brands has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Primo Brands will post 1.13 EPS for the current year.

Insider Activity at Primo Brands

In other news, Director Michael John Cramer acquired 4,000 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The stock was purchased at an average cost of $24.46 per share, with a total value of $97,840.00. Following the purchase, the director directly owned 12,762 shares of the company’s stock, valued at approximately $312,158.52. This trade represents a 45.65% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven P. Stanbrook acquired 12,400 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was purchased at an average cost of $24.04 per share, with a total value of $298,096.00. Following the completion of the purchase, the director directly owned 125,025 shares in the company, valued at $3,005,601. This represents a 11.01% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 24,685 shares of company stock valued at $595,770 in the last ninety days. Corporate insiders own 58.40% of the company’s stock.

Institutional Investors Weigh In On Primo Brands

A number of large investors have recently bought and sold shares of PRMB. Wealth Enhancement Advisory Services LLC acquired a new stake in Primo Brands during the 4th quarter valued at $363,000. GAMMA Investing LLC grew its holdings in Primo Brands by 4,673.0% during the 1st quarter. GAMMA Investing LLC now owns 68,922 shares of the company’s stock valued at $2,446,000 after buying an additional 67,478 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Primo Brands during the 1st quarter valued at $1,620,000. NewGen Asset Management Ltd grew its holdings in Primo Brands by 62.2% during the 1st quarter. NewGen Asset Management Ltd now owns 202,700 shares of the company’s stock valued at $7,194,000 after buying an additional 77,700 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new stake in Primo Brands during the 1st quarter valued at $385,000. Institutional investors and hedge funds 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.