Primo Water Corp. (PRMW) Price Target Increased to $15.00 by Analysts at Barrington Research
Primo Water Corp. (NASDAQ:PRMW) had its price target lifted by Barrington Research from $13.00 to $15.00 in a research report report published on Tuesday morning. The brokerage currently has an outperform rating on the stock.
Several other research firms have also recently commented on PRMW. B. Riley boosted their price objective on shares of Primo Water Corp. from $13.00 to $15.00 and gave the company a buy rating in a research report on Tuesday. Zacks Investment Research raised shares of Primo Water Corp. from a hold rating to a strong-buy rating and set a $14.00 price target on the stock in a research report on Tuesday, August 9th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $13.75.
Shares of Primo Water Corp. (NASDAQ:PRMW) traded down 0.31% during midday trading on Tuesday, hitting $12.97. The stock had a trading volume of 57,488 shares. Primo Water Corp. has a 1-year low of $7.39 and a 1-year high of $13.67. The firm has a market cap of $337.61 million, a price-to-earnings ratio of 80.06 and a beta of 0.04. The firm has a 50-day moving average price of $11.87 and a 200-day moving average price of $11.43.
Primo Water Corp. (NASDAQ:PRMW) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.07 by $0.04. The business had revenue of $34.40 million for the quarter, compared to analysts’ expectations of $33.86 million. Primo Water Corp. had a net margin of 3.53% and a return on equity of 22.31%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 EPS. On average, equities analysts anticipate that Primo Water Corp. will post $0.24 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in PRMW. BlackRock Institutional Trust Company N.A. raised its position in shares of Primo Water Corp. by 12.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,259,798 shares of the company’s stock worth $14,878,000 after buying an additional 143,940 shares during the period. Vanguard Group Inc. raised its position in shares of Primo Water Corp. by 9.7% in the second quarter. Vanguard Group Inc. now owns 960,859 shares of the company’s stock worth $11,347,000 after buying an additional 85,176 shares during the period. Wellington Management Group LLP raised its position in shares of Primo Water Corp. by 2.2% in the first quarter. Wellington Management Group LLP now owns 672,450 shares of the company’s stock worth $6,785,000 after buying an additional 14,350 shares during the period. BlackRock Fund Advisors raised its position in shares of Primo Water Corp. by 1,040.8% in the second quarter. BlackRock Fund Advisors now owns 548,064 shares of the company’s stock worth $6,473,000 after buying an additional 500,020 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Primo Water Corp. by 48.0% in the second quarter. Dimensional Fund Advisors LP now owns 360,127 shares of the company’s stock worth $4,253,000 after buying an additional 116,770 shares during the period. Institutional investors and hedge funds own 64.59% of the company’s stock.
About Primo Water Corp.
Primo Water Corporation is a provider of multi-gallon purified bottled water, self-service refill water and water dispensers. The Company’s products are sold through various retailers in the United States and Canada. The Company conducts its operations through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).
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