BidaskClub cut shares of Primo Water (NASDAQ:PRMW) from a hold rating to a sell rating in a research note published on Saturday morning.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Primo Water from a hold rating to a buy rating and set a $14.00 price objective on the stock in a research note on Friday, November 10th. B. Riley reiterated a buy rating and issued a $17.50 price objective on shares of Primo Water in a research note on Wednesday, November 8th. Barrington Research increased their price objective on shares of Primo Water from $17.00 to $19.00 and gave the stock an outperform rating in a research note on Wednesday, November 8th. Finally, ValuEngine cut shares of Primo Water from a hold rating to a sell rating in a research note on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $17.10.

Primo Water (NASDAQ:PRMW) opened at $12.70 on Friday. Primo Water has a one year low of $10.47 and a one year high of $15.39. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 3.99. The firm has a market cap of $376.98, a P/E ratio of -18.41, a PEG ratio of 3.97 and a beta of -0.31.

In other Primo Water news, CFO Mark Castaneda sold 6,200 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $13.45, for a total transaction of $83,390.00. Following the sale, the chief financial officer now owns 236,113 shares in the company, valued at approximately $3,175,719.85. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David L. Warnock sold 33,226 shares of the firm’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $12.37, for a total transaction of $411,005.62. Following the sale, the director now owns 25,157 shares in the company, valued at approximately $311,192.09. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,295 shares of company stock worth $1,636,440. 15.80% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRMW. Schwab Charles Investment Management Inc. raised its stake in Primo Water by 42.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 49,200 shares of the company’s stock worth $625,000 after acquiring an additional 14,600 shares during the period. Rhumbline Advisers raised its stake in Primo Water by 19.6% during the 2nd quarter. Rhumbline Advisers now owns 26,995 shares of the company’s stock worth $343,000 after acquiring an additional 4,425 shares during the period. Bank of New York Mellon Corp raised its stake in Primo Water by 2.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 102,540 shares of the company’s stock worth $1,302,000 after acquiring an additional 2,490 shares during the period. Marshall Wace North America L.P. bought a new stake in Primo Water during the 2nd quarter worth approximately $1,202,000. Finally, Royce & Associates LP raised its stake in Primo Water by 42.2% during the 2nd quarter. Royce & Associates LP now owns 226,900 shares of the company’s stock worth $2,882,000 after acquiring an additional 67,300 shares during the period. Institutional investors own 68.61% of the company’s stock.

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Primo Water 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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