Primo Water Co. (PRMW) Given Average Recommendation of “Buy” by Analysts
Shares of Primo Water Co. (NASDAQ:PRMW) have been given an average recommendation of “Buy” by the six research firms that are covering the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $17.25.
Several equities analysts have issued reports on the company. Lake Street Capital reiterated a “buy” rating and issued a $20.00 price objective (up previously from $16.50) on shares of Primo Water in a research report on Thursday, March 16th. Barrington Research reiterated an “outperform” rating and issued a $16.50 price objective (up previously from $15.00) on shares of Primo Water in a research report on Thursday, March 16th. B. Riley reiterated a “buy” rating and issued a $16.50 price objective on shares of Primo Water in a research report on Tuesday, March 14th. Finally, Zacks Investment Research downgraded Primo Water from a “buy” rating to a “hold” rating in a research report on Wednesday, March 15th.
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Primo Water (NASDAQ:PRMW) opened at 14.07 on Thursday. Primo Water has a 52 week low of $8.80 and a 52 week high of $15.39. The company has a market cap of $366.41 million, a PE ratio of 72.53 and a beta of -0.21. The company’s 50-day moving average price is $14.44 and its 200 day moving average price is $13.02.
Primo Water (NASDAQ:PRMW) last issued its quarterly earnings data on Wednesday, March 15th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.25. Primo Water had a return on equity of 24.69% and a net margin of 4.34%. The firm earned $40.40 million during the quarter, compared to the consensus estimate of $37.85 million. During the same quarter in the previous year, the company posted $0.04 EPS. The business’s revenue for the quarter was up 28.3% compared to the same quarter last year. On average, analysts anticipate that Primo Water will post ($0.06) EPS for the current year.
In other news, VP David J. Mills sold 5,669 shares of the business’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $13.00, for a total transaction of $73,697.00. Following the completion of the sale, the vice president now owns 16,351 shares in the company, valued at $212,563. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 18.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. FNY Partners Fund LP purchased a new stake in Primo Water during the fourth quarter worth $135,000. Van Hulzen Asset Management LLC purchased a new stake in Primo Water during the third quarter worth $175,000. Bessemer Group Inc. purchased a new stake in Primo Water during the fourth quarter worth $177,000. Metropolitan Life Insurance Co. NY increased its stake in Primo Water by 15.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,105 shares of the company’s stock worth $198,000 after buying an additional 2,189 shares during the last quarter. Finally, Trexquant Investment LP purchased a new stake in Primo Water during the fourth quarter worth $208,000. Institutional investors own 56.78% of the company’s stock.
Primo Water Company Profile
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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