Primo Water Co. (NYSE:PRMW) Receives Consensus Recommendation of “Buy” from Brokerages

Primo Water Co. (NYSE:PRMWGet Free Report) has earned an average recommendation of “Buy” from the three research firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $20.67.

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

View Our Latest Stock Analysis on Primo Water

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ancora Advisors LLC increased its position in Primo Water by 2.0% in the third quarter. Ancora Advisors LLC now owns 611,705 shares of the company’s stock worth $8,442,000 after buying an additional 11,920 shares in the last quarter. Walleye Capital LLC grew its position in shares of Primo Water by 761.6% during the third quarter. Walleye Capital LLC now owns 111,030 shares of the company’s stock worth $1,532,000 after purchasing an additional 98,144 shares in the last quarter. William Blair Investment Management LLC grew its position in shares of Primo Water by 10.8% during the third quarter. William Blair Investment Management LLC now owns 2,713,299 shares of the company’s stock worth $37,444,000 after purchasing an additional 265,057 shares in the last quarter. Qube Research & Technologies Ltd grew its position in shares of Primo Water by 49.3% during the third quarter. Qube Research & Technologies Ltd now owns 312,321 shares of the company’s stock worth $4,310,000 after purchasing an additional 103,103 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC grew its position in shares of Primo Water by 475.4% during the second quarter. Intrinsic Edge Capital Management LLC now owns 1,578,758 shares of the company’s stock worth $19,798,000 after purchasing an additional 1,304,400 shares in the last quarter. 87.71% of the stock is owned by institutional investors.

Primo Water Price Performance

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

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

Primo Water Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.98%. This is an increase from Primo Water’s previous quarterly dividend of $0.08. The ex-dividend date was Thursday, March 7th. Primo Water’s payout ratio is 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.

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