Royal Bank of Canada Issues Positive Forecast for Primo Brands (NYSE:PRMB) Stock Price

Primo Brands (NYSE:PRMB) had its target price increased by analysts at Royal Bank of Canada from $35.00 to $38.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 22.15% from the stock’s current price.

Several other research analysts have also commented on the stock. BMO Capital Markets assumed coverage on shares of Primo Brands in a research note on Monday. They issued an “outperform” rating and a $40.00 price objective for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of Primo Brands in a research note on Monday, November 18th. They issued a “buy” rating and a $33.00 price target for the company.

Primo Brands Price Performance

PRMB traded up $0.04 during mid-day trading on Monday, hitting $31.11. 368,492 shares of the stock were exchanged, compared to its average volume of 2,106,388. The firm has a market cap of $11.80 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 0.95 and a beta of 1.09. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. Primo Brands has a 1-year low of $14.06 and a 1-year high of $32.25.

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.