Primo Brands (NYSE:PRMB) Price Target Raised to $40.00 at TD Securities

Primo Brands (NYSE:PRMB) had its price objective increased by investment analysts at TD Securities from $32.00 to $40.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Securities’ target price points to a potential upside of 22.47% from the stock’s current price.

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

Primo Brands Trading Down 0.2 %

NYSE:PRMB traded down $0.06 on Monday, hitting $32.66. 1,370,223 shares of the stock were exchanged, compared to its average volume of 2,039,487. Primo Brands has a fifty-two week low of $14.10 and a fifty-two week high of $33.65. The business has a fifty day moving average of $30.61. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. The stock has a market capitalization of $12.39 billion, a PE ratio of 20.29, a PEG ratio of 0.81 and a beta of 1.09.

Hedge Funds Weigh In On Primo Brands

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

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.