Primo Water (NASDAQ:PRMW) was downgraded by equities research analysts at Barrington Research from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday, The Fly reports.

Other equities analysts also recently issued research reports about the stock. ValuEngine raised shares of Primo Water from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. BMO Capital Markets downgraded shares of Primo Water from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $18.00 to $14.00 in a research note on Monday. BidaskClub downgraded shares of Primo Water from a “buy” rating to a “hold” rating in a research note on Friday, January 3rd. Lake Street Capital downgraded shares of Primo Water from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $18.00 to $14.00 in a research note on Wednesday, November 6th. Finally, Zacks Investment Research raised shares of Primo Water from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $14.83.

Shares of Primo Water stock traded down $0.01 on Tuesday, hitting $13.90. 139,735 shares of the company traded hands, compared to its average volume of 222,028. The stock’s 50 day moving average price is $10.87 and its 200-day moving average price is $11.99. 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 has a 52 week low of $9.54 and a 52 week high of $16.35. The company has a market cap of $435.12 million, a PE ratio of 40.88, a PEG ratio of 3.66 and a beta of 0.72.

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). The company had revenue of $86.97 million for the quarter, compared to the consensus estimate of $84.78 million. Primo Water had a net margin of 1.29% and a return on equity of 7.11%. As a group, research analysts anticipate that Primo Water will post 0.12 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC grew its holdings in Primo Water by 8.3% in the second quarter. Nuveen Asset Management LLC now owns 2,400,571 shares of the company’s stock worth $29,527,000 after purchasing an additional 184,111 shares during the last quarter. BlackRock Inc. grew its holdings in Primo Water by 5.1% in the second quarter. BlackRock Inc. now owns 2,396,335 shares of the company’s stock worth $29,475,000 after purchasing an additional 117,124 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Primo Water by 0.4% during the second quarter. Vanguard Group Inc. now owns 1,768,218 shares of the company’s stock valued at $21,750,000 after buying an additional 6,467 shares during the last quarter. State Street Corp grew its holdings in shares of Primo Water by 8.2% during the third quarter. State Street Corp now owns 693,555 shares of the company’s stock valued at $8,517,000 after buying an additional 52,331 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Primo Water by 52.1% during the third quarter. First Trust Advisors LP now owns 466,316 shares of the company’s stock valued at $5,726,000 after buying an additional 159,825 shares during the last quarter. 85.68% of the stock is currently owned by institutional investors and hedge funds.

Primo Water Company Profile

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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Analyst Recommendations for Primo Water (NASDAQ:PRMW)

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