Primo Water (NYSE:PRMW) Downgraded to Hold at StockNews.com

by · The Markets Daily

Primo Water (NYSE:PRMW – Get Free Report) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

PRMW has been the topic of a number of other reports. JPMorgan Chase & Co. raised their price target on shares of Primo Water from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th. TD Securities raised their price target on shares of Primo Water from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Royal Bank of Canada restated an “outperform” rating and issued a $30.00 price target on shares of Primo Water in a research note on Tuesday, June 18th. Finally, CIBC raised their price target on shares of Primo Water from $24.00 to $26.00 and gave the company an “outperformer” rating in a research note on Tuesday, June 18th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.83.

Get Our Latest Analysis on Primo Water

Primo Water Trading Down 1.2 %

PRMW stock opened at $25.17 on Tuesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. The company’s 50-day simple moving average is $22.51 and its 200 day simple moving average is $21.02. Primo Water has a 52 week low of $12.92 and a 52 week high of $25.60. The company has a market capitalization of $4.04 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 1.87 and a beta of 1.10.

Primo Water (NYSE:PRMW – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. Primo Water had a net margin of 12.61% and a return on equity of 8.94%. The firm had revenue of $485.00 million for the quarter, compared to the consensus estimate of $477.40 million. During the same period in the prior year, the company posted $0.22 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Primo Water will post 0.88 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Creative Planning raised its holdings in Primo Water by 8.8% during the 2nd quarter. Creative Planning now owns 17,301 shares of the company’s stock worth $378,000 after purchasing an additional 1,402 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Primo Water by 77.2% during the 2nd quarter. Mackenzie Financial Corp now owns 334,193 shares of the company’s stock worth $7,305,000 after purchasing an additional 145,561 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Primo Water by 2.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 189,637 shares of the company’s stock worth $4,141,000 after purchasing an additional 4,008 shares during the last quarter. AQR Capital Management LLC raised its holdings in Primo Water by 4.6% during the 2nd quarter. AQR Capital Management LLC now owns 55,382 shares of the company’s stock worth $1,211,000 after purchasing an additional 2,435 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in Primo Water during the 2nd quarter worth approximately $838,000. Institutional investors own 87.71% of the company’s stock.

Primo Water Company Profile

(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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