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

Primo Brands (NYSE:PRMB - Free Report) had its price target upped by Royal Bank of Canada from $35.00 to $38.00 in a report issued on Monday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

PRMB has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft assumed coverage on Primo Brands in a report on Monday, November 18th. They set a "buy" rating and a $33.00 price objective on the stock. BMO Capital Markets assumed coverage on Primo Brands in a research note on Monday. They issued an "outperform" rating and a $40.00 price target on the stock.

Primo Brands Stock Performance

Shares of PRMB traded up $0.80 on Monday, hitting $31.87. 3,098,239 shares of the stock traded hands, compared to its average volume of 3,049,546. Primo Brands has a 1 year low of $14.06 and a 1 year high of $32.25. The company has a market capitalization of $12.09 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 0.95 and a beta of 1.09. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18.

Primo Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.36 dividend on an annualized basis and a dividend 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.