Barrington Research Research Analysts Lower Earnings Estimates for Primo Water Corp. (PRMW)
Primo Water Corp. (NASDAQ:PRMW) – Barrington Research decreased their Q3 2017 EPS estimates for shares of Primo Water Corp. in a report issued on Tuesday. Barrington Research analyst M. Petusky now expects that the firm will post earnings of $0.05 per share for the quarter, down from their prior estimate of $0.12. Barrington Research currently has a “Outperform” rating and a $15.00 target price on the stock.
A number of other brokerages have also recently issued reports on PRMW. B. Riley restated a “buy” rating and set a $13.00 price objective on shares of Primo Water Corp. in a report on Friday, July 29th. Zacks Investment Research upgraded Primo Water Corp. from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Friday, July 8th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $13.75.
Primo Water Corp. (NASDAQ:PRMW) remained flat at $13.75 during mid-day trading on Wednesday. The stock had a trading volume of 193,154 shares. The company has a market cap of $357.91 million, a P/E ratio of 84.88 and a beta of 0.04. The company’s 50 day moving average is $11.92 and its 200-day moving average is $11.44. Primo Water Corp. has a 1-year low of $7.39 and a 1-year high of $13.86.
Primo Water Corp. (NASDAQ:PRMW) last issued its earnings results on Tuesday, August 2nd. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. Primo Water Corp. had a return on equity of 22.31% and a net margin of 3.53%. The firm had revenue of $34.40 million for the quarter, compared to the consensus estimate of $33.86 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The business’s quarterly revenue was up 6.2% compared to the same quarter last year.
Several large investors have recently added to or reduced their stakes in PRMW. O Shaughnessy Asset Management LLC purchased a new position in shares of Primo Water Corp. during the second quarter valued at approximately $103,000. Alpine Partners VI LLC purchased a new position in shares of Primo Water Corp. during the first quarter valued at approximately $106,000. Highbridge Capital Management LLC purchased a new position in shares of Primo Water Corp. during the second quarter valued at approximately $118,000. Cubist Systematic Strategies LLC purchased a new position in shares of Primo Water Corp. during the second quarter valued at approximately $120,000. Finally, National Asset Management Inc. increased its position in shares of Primo Water Corp. by 100.8% in the second quarter. National Asset Management Inc. now owns 22,670 shares of the company’s stock valued at $136,000 after buying an additional 11,381 shares in the last quarter. Institutional investors 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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