Morgan Stanley Issues Pessimistic Forecast for Primo Brands (NYSE:PRMB) Stock Price

Primo Brands (NYSE:PRMB) had its price target lowered by research analysts at Morgan Stanley from $29.00 to $28.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley‘s price objective indicates a potential upside of 17.63% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Primo Brands in a research note on Wednesday. TD Cowen reissued a “buy” rating on shares of Primo Brands in a research note on Thursday, August 6th. Zacks Research cut shares of Primo Brands from a “hold” rating to a “strong sell” rating in a report on Friday, October 30th. Deutsche Bank Aktiengesellschaft set a $21.00 price target on shares of Primo Brands in a research report on Monday, October 19th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Primo Brands in a research report on Wednesday. Ten analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.73.

Primo Brands Price Performance

NYSE:PRMB traded up $1.41 during mid-day trading on Monday, reaching $23.80. 2,892,049 shares of the stock were exchanged, compared to its average volume of 4,659,649. The company has a current ratio of 1.05, a quick ratio of 0.86 and a debt-to-equity ratio of 1.71. The business has a fifty day moving average price of $20.31 and a 200 day moving average price of $21.46. Primo Brands has a 1-year low of $14.80 and a 1-year high of $26.21. The firm has a market capitalization of $8.63 billion, a PE ratio of 42.51, a PEG ratio of 2.26 and a beta of 0.73.

Primo Brands (NYSE:PRMB) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. Primo Brands had a net margin of 3.06% and a return on equity of 14.64%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the prior year, the company earned $0.41 EPS. Primo Brands’s revenue was up 3.1% on a year-over-year basis. Research analysts expect that Primo Brands will post 1.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Primo Brands

A number of institutional investors have recently bought and sold shares of PRMB. Russell Investments Group Ltd. raised its holdings in Primo Brands by 40.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 770,909 shares of the company’s stock worth $14,686,000 after buying an additional 223,213 shares during the period. CENTRAL TRUST Co lifted its stake in Primo Brands by 801.9% during the third quarter. CENTRAL TRUST Co now owns 6,945 shares of the company’s stock valued at $132,000 after buying an additional 6,175 shares in the last quarter. Maryland State Retirement & Pension System boosted its holdings in shares of Primo Brands by 13.1% in the third quarter. Maryland State Retirement & Pension System now owns 14,118 shares of the company’s stock worth $269,000 after buying an additional 1,640 shares during the period. Machina Capital S.A.S. boosted its holdings in shares of Primo Brands by 53.9% in the third quarter. Machina Capital S.A.S. now owns 19,415 shares of the company’s stock worth $370,000 after buying an additional 6,800 shares during the period. Finally, Knights of Columbus Asset Advisors LLC increased its position in shares of Primo Brands by 15.1% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 201,571 shares of the company’s stock worth $3,840,000 after acquiring an additional 26,436 shares in the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.

About Primo Brands

Primo Brands is a North American beverage company focused on bottled water and water-related products and services. Its offerings include spring, purified and mineral water, water dispensers and filtration products, as well as water delivery for homes and businesses.

The company’s portfolio includes brands such as Poland Spring, Deer Park, Pure Life, Ice Mountain, Ozarka, Arrowhead and Primo. Its products are sold through retail channels and delivered directly to consumers and businesses.

Primo Brands was formed in 2024 through the combination of Primo Water Corporation and BlueTriton Brands.