Primo Brands (NYSE:PRMB) Price Target Raised to $38.00 at Royal Bank of Canada

Primo Brands (NYSE:PRMB) had its price objective increased by Royal Bank of Canada from $35.00 to $38.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

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

Primo Brands Trading Up 2.6 %

Shares of PRMB opened at $31.87 on Monday. Primo Brands has a fifty-two week low of $14.06 and a fifty-two week high of $32.25. The firm has a market capitalization of $12.09 billion, a price-to-earnings ratio of 19.80, a price-to-earnings-growth ratio of 0.95 and a beta of 1.09. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Friday, November 22nd were issued a $0.09 dividend. The ex-dividend date was Friday, November 22nd. This represents a $0.36 annualized dividend and a yield of 1.13%. Primo Brands’s payout ratio is 22.36%.

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.