Primo Water Corporation (NASDAQ:PRMW) Raised to Hold at BidaskClub
Primo Water Corporation (NASDAQ:PRMW) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Sunday.
Other analysts have also issued research reports about the stock. B. Riley reaffirmed a “buy” rating and set a $17.50 target price on shares of Primo Water Corporation in a report on Saturday, May 13th. Zacks Investment Research raised shares of Primo Water Corporation from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Saturday, March 18th. ValuEngine raised shares of Primo Water Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. BMO Capital Markets reaffirmed a “market perform” rating on shares of Primo Water Corporation in a report on Friday, June 9th. Finally, Barrington Research upped their target price on shares of Primo Water Corporation from $16.50 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, May 10th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Primo Water Corporation currently has a consensus rating of “Hold” and an average target price of $17.10.
Primo Water Corporation (NASDAQ PRMW) traded up 1.19% during mid-day trading on Friday, hitting $12.77. 153,645 shares of the company traded hands. The firm’s market capitalization is $381.63 million. Primo Water Corporation has a one year low of $10.74 and a one year high of $15.39. The firm has a 50 day moving average of $12.51 and a 200 day moving average of $13.04.
Primo Water Corporation (NASDAQ:PRMW) last posted its earnings results on Tuesday, May 9th. The company reported ($0.37) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.28) by $0.09. The firm had revenue of $60.70 million for the quarter, compared to the consensus estimate of $64.56 million. Primo Water Corporation had a negative return on equity of 38.63% and a negative net margin of 11.02%. The business’s revenue was up 88.0% on a year-over-year basis. During the same period last year, the company posted $0.07 EPS. Equities research analysts expect that Primo Water Corporation will post ($0.20) earnings per share for the current fiscal year.
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In other Primo Water Corporation news, insider Camden Partners Strategic Fund sold 7,985 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $13.50, for a total value of $107,797.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders acquired 2,750 shares of company stock valued at $30,050. Corporate insiders own 15.80% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in PRMW. Driehaus Capital Management LLC boosted its position in Primo Water Corporation by 10.8% in the first quarter. Driehaus Capital Management LLC now owns 683,194 shares of the company’s stock worth $9,278,000 after buying an additional 66,653 shares in the last quarter. HighTower Advisors LLC boosted its position in Primo Water Corporation by 2.9% in the first quarter. HighTower Advisors LLC now owns 10,600 shares of the company’s stock worth $145,000 after buying an additional 300 shares in the last quarter. Highbridge Capital Management LLC boosted its position in Primo Water Corporation by 37.4% in the first quarter. Highbridge Capital Management LLC now owns 16,603 shares of the company’s stock worth $225,000 after buying an additional 4,521 shares in the last quarter. KCG Holdings Inc. bought a new position in Primo Water Corporation during the first quarter worth approximately $190,000. Finally, Renaissance Technologies LLC boosted its position in Primo Water Corporation by 10.5% in the first quarter. Renaissance Technologies LLC now owns 790,055 shares of the company’s stock worth $10,729,000 after buying an additional 74,800 shares in the last quarter. 57.90% of the stock is owned by institutional investors and hedge funds.
Primo Water Corporation Company Profile
Primo Water Corporation (Primo) provides 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. It operates through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).
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