Primo Water Co. (NASDAQ:PRMW) was the target of a significant decline in short interest during the month of November. As of November 29th, there was short interest totalling 3,170,000 shares, a decline of 12.7% from the November 14th total of 3,630,000 shares. Currently, 8.9% of the company’s stock are short sold. Based on an average daily trading volume, of 244,600 shares, the days-to-cover ratio is presently 13.0 days.

NASDAQ:PRMW traded up $0.36 during trading hours on Friday, reaching $10.66. 480,700 shares of the company traded hands, compared to its average volume of 292,392. The business’s 50-day moving average price is $10.70 and its two-hundred day moving average price is $12.12. The stock has a market capitalization of $397.45 million, a P/E ratio of 31.35, a P/E/G ratio of 7.03 and a beta of 0.71. Primo Water has a 1 year low of $9.54 and a 1 year high of $16.35. The company has a current ratio of 0.92, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

Primo Water (NASDAQ:PRMW) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.07). Primo Water had a return on equity of 7.11% and a net margin of 1.29%. The business had revenue of $86.97 million during the quarter, compared to analysts’ expectations of $84.78 million. As a group, equities analysts anticipate that Primo Water will post 0.12 EPS for the current year.

PRMW has been the subject of a number of recent research reports. B. Riley reiterated a “buy” rating and set a $18.00 price objective on shares of Primo Water in a research note on Friday, September 6th. Barrington Research reiterated a “buy” rating and set a $15.00 price objective on shares of Primo Water in a research note on Wednesday, November 6th. Northland Securities initiated coverage on Primo Water in a research note on Friday, November 15th. They set a “buy” rating and a $16.00 price objective for the company. Imperial Capital reiterated an “outperform” rating and set a $14.00 price objective (down previously from $15.00) on shares of Primo Water in a research note on Wednesday, December 4th. Finally, Zacks Investment Research upgraded Primo Water from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Primo Water presently has an average rating of “Hold” and a consensus price target of $16.00.

Several hedge funds have recently bought and sold shares of PRMW. First Trust Advisors LP purchased a new position in shares of Primo Water in the first quarter worth $4,509,000. SG Americas Securities LLC raised its stake in shares of Primo Water by 97.9% in the second quarter. SG Americas Securities LLC now owns 103,822 shares of the company’s stock worth $1,277,000 after purchasing an additional 51,367 shares during the last quarter. Aperio Group LLC purchased a new position in shares of Primo Water in the second quarter worth $35,000. Wells Fargo & Company MN raised its stake in shares of Primo Water by 7.2% in the second quarter. Wells Fargo & Company MN now owns 174,133 shares of the company’s stock worth $2,143,000 after purchasing an additional 11,733 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Primo Water by 9.5% in the second quarter. JPMorgan Chase & Co. now owns 1,916,291 shares of the company’s stock worth $23,456,000 after acquiring an additional 165,708 shares during the period. Hedge funds and other institutional investors own 85.68% of the company’s stock.

About Primo Water

Primo Water Corporation, together with its subsidiaries, provides multi-gallon purified bottled water, self-service refill water, and water dispensers in the United States and Canada. It operates in three segments: Refill, Exchange, and Dispensers. The Refill segment sells filtered drinking water dispensed directly to consumers through self-service machines.

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