Primo Brands (PRMB) Gets a Buy from RBC Capital
In a report released on June 16, Nik Modi from RBC Capital maintained a Buy rating on Primo Brands (PRMB – Research Report), with a price target of $40.00. The company's shares closed yesterday at $30.06.
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According to TipRanks, Modi is a 2-star analyst with an average return of 0.4% and a 50.50% success rate. Modi covers the Consumer Defensive sector, focusing on stocks such as Primo Brands, Procter & Gamble, and Clorox.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Primo Brands with a $42.57 average price target, representing a 41.62% upside. In a report released on June 13, Bank of America Securities also maintained a Buy rating on the stock with a $42.00 price target.
The company has a one-year high of $35.85 and a one-year low of $20.16. Currently, Primo Brands has an average volume of 5.59M.
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PRMB in relation to earlier this year. Last month, Tony W Lee, a Director at PRMB sold 50,657,562.00 shares for a total of $1,604,324,988.54.
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