BMO Capital Markets Initiates Coverage on Primo Brands (NYSE:PRMB)

Research analysts at BMO Capital Markets started coverage on shares of Primo Brands (NYSE:PRMB) in a research note issued to investors on Monday, MarketBeat.com reports. The firm set an “outperform” rating and a $40.00 price target on the stock. BMO Capital Markets’ price objective points to a potential upside of 25.94% from the company’s previous close.

Separately, Deutsche Bank Aktiengesellschaft initiated coverage on Primo Brands in a research note on Monday, November 18th. They set a “buy” rating and a $33.00 price target for the company.

Primo Brands Stock Down 0.3 %

PRMB opened at $31.76 on Monday. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. The firm has a market cap of $12.05 billion, a P/E ratio of 19.73, a P/E/G ratio of 0.95 and a beta of 1.09. Primo Brands has a fifty-two week low of $14.06 and a fifty-two week high of $32.40.

Hedge Funds Weigh In On Primo Brands

A hedge fund recently bought a new stake in Primo Brands stock. Rise Advisors LLC acquired a new position in Primo Brands Co. (NYSE:PRMB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 915 shares of the company’s stock, valued at approximately $28,000. 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.