Primo Water (NASDAQ:PRMW)‘s stock had its “buy” rating reissued by B. Riley in a research report issued to clients and investors on Friday, The Fly reports. They presently have a $18.00 target price on the stock. B. Riley’s price target suggests a potential upside of 38.57% from the company’s current price.
Several other equities research analysts have also weighed in on the company. BMO Capital Markets set a $19.00 price objective on Primo Water and gave the company a “buy” rating in a research note on Wednesday, July 31st. ValuEngine upgraded Primo Water from a “hold” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research upgraded Primo Water from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Northland Securities reiterated a “buy” rating and issued a $19.00 price objective on shares of Primo Water in a research note on Tuesday, June 25th. Finally, Barrington Research set a $18.00 price objective on Primo Water and gave the company a “buy” rating in a research note on Wednesday, June 26th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $17.80.
PRMW stock opened at $12.99 on Friday. Primo Water has a 1-year low of $10.70 and a 1-year high of $20.26. The firm has a market cap of $511.80 million, a P/E ratio of 50.19, a P/E/G ratio of 4.13 and a beta of 0.80. The business’s 50 day moving average is $12.89 and its 200-day moving average is $13.57. The company has a current ratio of 0.99, a quick ratio of 0.71 and a debt-to-equity ratio of 2.05.
Primo Water (NASDAQ:PRMW) last released its quarterly earnings data on Monday, August 5th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Primo Water had a negative net margin of 18.85% and a positive return on equity of 11.75%. The company had revenue of $79.30 million during the quarter, compared to the consensus estimate of $78.01 million. During the same quarter in the prior year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. Sell-side analysts forecast that Primo Water will post 0.26 EPS for the current year.
In other Primo Water news, Director Susan E. Cates purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average cost of $12.23 per share, for a total transaction of $61,150.00. Following the transaction, the director now directly owns 28,968 shares in the company, valued at $354,278.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have purchased 6,459 shares of company stock worth $77,820. 10.80% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Boston Partners bought a new stake in Primo Water during the 2nd quarter worth approximately $28,000. White Pine Capital LLC grew its position in Primo Water by 11.7% during the 2nd quarter. White Pine Capital LLC now owns 207,785 shares of the company’s stock worth $2,556,000 after acquiring an additional 21,775 shares during the last quarter. Susquehanna International Group LLP bought a new stake in Primo Water during the 2nd quarter worth approximately $218,000. Nuveen Asset Management LLC grew its position in Primo Water by 8.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,400,571 shares of the company’s stock worth $29,527,000 after acquiring an additional 184,111 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Primo Water by 1.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 53,205 shares of the company’s stock worth $654,000 after acquiring an additional 853 shares during the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.
About Primo Water
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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