Barrington Research restated their buy rating on shares of Primo Water (NASDAQ:PRMW) in a report published on Wednesday morning, AnalystRatings.com reports. The firm currently has a $18.00 price objective on the stock.
“We continue to expect upper-single-digit/low- double-digit growth in this business for the next couple of years.”,” Barrington Research’s analyst wrote.
Several other research firms have also recently commented on PRMW. ValuEngine cut shares of Primo Water from a buy rating to a hold rating in a research note on Wednesday, April 3rd. Zacks Investment Research raised shares of Primo Water from a sell rating to a hold rating in a research note on Friday, April 19th. BidaskClub cut shares of Primo Water from a buy rating to a hold rating in a research note on Tuesday, March 19th. Finally, BMO Capital Markets raised their target price on shares of Primo Water from $17.00 to $18.00 and gave the company an outperform rating in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $19.80.
Shares of Primo Water stock traded down $0.72 during trading on Wednesday, hitting $12.38. 31,016 shares of the stock were exchanged, compared to its average volume of 275,922. The firm has a market capitalization of $510.83 million, a P/E ratio of 36.41, a P/E/G ratio of 3.60 and a beta of 0.43. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.75 and a current ratio of 0.97. Primo Water has a 12 month low of $12.20 and a 12 month high of $20.72.
Primo Water (NASDAQ:PRMW) last released its quarterly earnings results on Tuesday, March 5th. The company reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. The business had revenue of $70.88 million during the quarter, compared to analyst estimates of $72.51 million. Primo Water had a negative net margin of 18.16% and a positive return on equity of 12.71%. As a group, sell-side analysts forecast that Primo Water will post 0.38 earnings per share for the current year.
In other Primo Water news, VP Michael Cauthen sold 4,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $15.32, for a total transaction of $61,280.00. Following the transaction, the vice president now owns 10,579 shares of the company’s stock, valued at approximately $162,070.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 10.80% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in shares of Primo Water by 10.5% in the 4th quarter. BlackRock Inc. now owns 2,444,917 shares of the company’s stock worth $34,253,000 after purchasing an additional 233,001 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Primo Water by 52.7% in the 4th quarter. Nuveen Asset Management LLC now owns 2,001,988 shares of the company’s stock worth $28,048,000 after purchasing an additional 690,521 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Primo Water by 11.8% in the 1st quarter. JPMorgan Chase & Co. now owns 1,750,583 shares of the company’s stock worth $27,064,000 after purchasing an additional 184,417 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Primo Water by 3.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,460,570 shares of the company’s stock worth $26,363,000 after purchasing an additional 51,372 shares in the last quarter. Finally, Vanguard Group Inc raised its holdings in shares of Primo Water by 3.6% in the 3rd quarter. Vanguard Group Inc now owns 1,460,570 shares of the company’s stock worth $26,363,000 after purchasing an additional 51,372 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.
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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