Primo Brands Corporation (NYSE:PRMB – Get Free Report) was the recipient of unusually large options trading on Monday. Stock traders purchased 37,541 call options on the company. This is an increase of approximately 757% compared to the typical daily volume of 4,382 call options.
Primo Brands Price Performance
Shares of NYSE:PRMB traded down $0.59 on Monday, reaching $24.23. 2,236,279 shares of the company were exchanged, compared to its average volume of 4,705,720. The company has a 50-day moving average of $24.03 and a 200-day moving average of $21.03. The company has a current ratio of 0.98, a quick ratio of 0.79 and a debt-to-equity ratio of 1.72. The firm has a market cap of $8.79 billion, a price-to-earnings ratio of 174.54, a price-to-earnings-growth ratio of 2.14 and a beta of 0.73. Primo Brands has a 1-year low of $14.36 and a 1-year high of $29.23.
Primo Brands (NYSE:PRMB – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. Primo Brands had a net margin of 0.88% and a return on equity of 13.98%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the business earned $0.29 EPS. Equities analysts forecast that Primo Brands will post 1.25 earnings per share for the current fiscal year.
Primo Brands Dividend Announcement
Analyst Ratings Changes
PRMB has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on Primo Brands from $24.00 to $19.00 and set a “hold” rating for the company in a research note on Monday, March 30th. Wall Street Zen upgraded Primo Brands from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. Weiss Ratings raised Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Jefferies Financial Group upgraded shares of Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Friday, March 27th. Finally, Royal Bank Of Canada set a $28.00 price objective on shares of Primo Brands in a research note on Thursday, April 9th. Nine investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.18.
Check Out Our Latest Report on PRMB
Institutional Investors Weigh In On Primo Brands
A number of institutional investors and hedge funds have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new position in Primo Brands during the first quarter worth $229,000. Caxton Associates LLP acquired a new position in shares of Primo Brands during the 1st quarter worth $266,000. American Century Companies Inc. raised its stake in shares of Primo Brands by 9.3% during the 2nd quarter. American Century Companies Inc. now owns 27,226 shares of the company’s stock worth $806,000 after buying an additional 2,318 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Primo Brands by 797.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 54,589 shares of the company’s stock worth $1,617,000 after buying an additional 48,509 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Primo Brands by 29.1% in the 2nd quarter. Invesco Ltd. now owns 301,535 shares of the company’s stock valued at $8,931,000 after acquiring an additional 67,930 shares during the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.
About Primo Brands
Primo Brands (NYSE: PRMB) is a consumer packaged beverage company that was established as an independent entity following a corporate spinâoff in 2023. The company specializes in the production, marketing and distribution of a broad portfolio of bottled water products, including purified, mineral and sparkling varieties. Through its focus on quality control and innovation, Primo Brands aims to deliver clean, great-tasting water in formats tailored to both at-home consumption and on-the-go lifestyles.
Its product range spans multi-serve and single-serve bottles, aluminum cans and other eco-friendly packaging solutions.
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