Royal Bank of Canada Forecasts Strong Price Appreciation for Primo Brands (NYSE:PRMB) Stock

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

A number of other analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Primo Brands in a research report on Monday, November 18th. They issued a “buy” rating and a $33.00 target price for the company. BMO Capital Markets began coverage on shares of Primo Brands in a research report on Monday. They set an “outperform” rating and a $40.00 target price on the stock.

Primo Brands Price Performance

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

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.