Primo Water (NYSE:PRMW) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Primo Water (NYSE:PRMWFree Report) from a hold rating to a buy rating in a report published on Friday morning.

A number of other brokerages have also recently commented on PRMW. Deutsche Bank Aktiengesellschaft upped their target price on shares of Primo Water from $17.00 to $20.00 and gave the company a hold rating in a report on Friday, May 10th. Raymond James downgraded Primo Water from a strong-buy rating to an outperform rating and set a $21.00 target price on the stock. in a research report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. boosted their price target on Primo Water from $19.00 to $21.00 and gave the company an overweight rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $21.00.

View Our Latest Report on Primo Water

Primo Water Stock Up 1.3 %

Shares of NYSE:PRMW traded up $0.27 during trading on Friday, reaching $21.51. 1,156,840 shares of the stock traded hands, compared to its average volume of 1,522,838. The stock has a market cap of $3.44 billion, a P/E ratio of 13.36, a price-to-earnings-growth ratio of 1.67 and a beta of 1.09. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.02 and a current ratio of 2.13. The stock has a 50-day moving average of $18.70 and a two-hundred day moving average of $16.25. Primo Water has a 52-week low of $12.27 and a 52-week high of $23.11.

Primo Water (NYSE:PRMWGet Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.10). The business had revenue of $438.70 million during the quarter, compared to analysts’ expectations of $582.93 million. Primo Water had a return on equity of 9.36% and a net margin of 12.22%. As a group, sell-side analysts expect that Primo Water will post 0.82 earnings per share for the current fiscal year.

Primo Water Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Friday, June 7th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Friday, June 7th. Primo Water’s dividend payout ratio (DPR) is 22.36%.

Hedge Funds Weigh In On Primo Water

Hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James & Associates boosted its position in shares of Primo Water by 18.1% during the 4th quarter. Raymond James & Associates now owns 951,970 shares of the company’s stock valued at $14,327,000 after acquiring an additional 145,966 shares during the last quarter. Ancora Advisors LLC increased its holdings in shares of Primo Water by 2.0% in the 3rd 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 during the last quarter. Walleye Capital LLC raised its position in shares of Primo Water by 761.6% during the 3rd quarter. Walleye Capital LLC now owns 111,030 shares of the company’s stock valued at $1,532,000 after buying an additional 98,144 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of Primo Water by 10.8% during the 3rd quarter. William Blair Investment Management LLC now owns 2,713,299 shares of the company’s stock valued at $37,444,000 after buying an additional 265,057 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of Primo Water by 49.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 312,321 shares of the company’s stock valued at $4,310,000 after acquiring an additional 103,103 shares during the last quarter. Institutional investors own 87.71% of the company’s stock.

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.

Featured Articles

Analyst Recommendations for Primo Water (NYSE:PRMW)

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.