Brokerages Set Primo Water Co. (NYSE:PRMW) PT at $20.67

Primo Water Co. (NYSE:PRMWGet Free Report) has been given a consensus rating of “Buy” by the three analysts that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $20.67.

A number of brokerages have recently issued reports on PRMW. Raymond James downgraded Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price target on the stock. in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on Primo Water from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. TD Securities lowered their price objective on Primo Water from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, January 11th. Finally, StockNews.com cut Primo Water from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 18th.

Read Our Latest Report on Primo Water

Institutional Trading of Primo Water

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ancora Advisors LLC acquired a new stake in Primo Water during the 1st quarter worth about $36,000. Signaturefd LLC lifted its holdings in shares of Primo Water by 358.1% in the 4th quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock valued at $36,000 after buying an additional 1,848 shares during the period. Point72 Middle East FZE acquired a new position in shares of Primo Water in the 4th quarter valued at about $54,000. PNC Financial Services Group Inc. lifted its holdings in shares of Primo Water by 26.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,126 shares of the company’s stock valued at $52,000 after buying an additional 853 shares during the period. Finally, Advisor Group Holdings Inc. increased its stake in shares of Primo Water by 209.8% in the 4th quarter. Advisor Group Holdings Inc. now owns 5,825 shares of the company’s stock valued at $90,000 after purchasing an additional 3,945 shares in the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

Primo Water Stock Performance

Shares of NYSE PRMW opened at $18.22 on Wednesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.92 and a current ratio of 2.03. The business’s 50 day moving average price is $16.18 and its 200-day moving average price is $15.01. Primo Water has a fifty-two week low of $12.27 and a fifty-two week high of $18.49. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.72 and a beta of 1.12.

Primo Water (NYSE:PRMWGet Free Report) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.10). Primo Water had a return on equity of 8.55% and a net margin of 10.82%. The firm had revenue of $438.70 million for the quarter, compared to analysts’ expectations of $582.93 million. On average, sell-side analysts expect that Primo Water will post 0.82 earnings per share for the current year.

Primo Water Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.36 dividend on an annualized basis and a yield of 1.98%. This is a boost from Primo Water’s previous quarterly dividend of $0.08. Primo Water’s payout ratio is currently 24.16%.

About Primo Water

(Get Free Report

Primo Water Corporation provides pure-play water solutions for residential and commercial customers. It offers bottled water, water dispensers, purified bottled water, self-service refill drinking water, premium spring, mineral water, sparkling and flavored essence water, filtration units, and coffee.

See Also

Receive News & Ratings for Primo Water Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primo Water and related companies with MarketBeat.com's FREE daily email newsletter.