TD Securities Forecasts Strong Price Appreciation for Primo Brands (NYSE:PRMB) Stock

Primo Brands (NYSE:PRMB) had its price target boosted by analysts at TD Securities from $32.00 to $40.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Securities’ target price suggests a potential upside of 22.47% from the company’s previous close.

PRMB has been the subject 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 set an “outperform” rating and a $40.00 price target for the company. 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 started coverage on Primo Brands in a research note on Monday, November 18th. They issued a “buy” rating and a $33.00 price target on the stock.

Primo Brands Stock Performance

Shares of NYSE PRMB traded down $0.06 during trading on Monday, hitting $32.66. 1,370,223 shares of the company were exchanged, compared to its average volume of 2,039,487. 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 12-month low of $14.10 and a 12-month high of $33.65. The company’s fifty day moving average is $30.61. The stock has a market cap of $12.39 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 0.81 and a beta of 1.09.

Institutional Trading of Primo Brands

A number of large investors have recently made changes to their positions in the company. KBC Group NV purchased a new position in shares of Primo Brands in the fourth quarter valued at $49,585,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Primo Brands in the fourth quarter valued at about $4,350,000. Strategic Blueprint LLC acquired a new stake in shares of Primo Brands in the fourth quarter valued at approximately $2,355,000. Dynamic Advisor Solutions LLC acquired a new position in shares of Primo Brands during the 4th quarter worth approximately $1,887,000. Finally, Green Alpha Advisors LLC acquired a new stake in Primo Brands during the 4th quarter valued at $835,000. 87.71% of the stock is owned by institutional investors and hedge funds.

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.