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

by · The Markets Daily

Primo Water (NYSE:PRMW – Get Free Report) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Several other equities analysts have also recently issued reports on PRMW. Raymond James cut shares of Primo Water from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a report on Tuesday, October 1st. Finally, William Blair initiated coverage on Primo Water in a report on Thursday, October 24th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

View Our Latest Report on PRMW

Primo Water Stock Performance

Shares of NYSE:PRMW traded down $0.22 on Friday, reaching $24.22. The company’s stock had a trading volume of 11,422,356 shares, compared to its average volume of 1,320,818. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. Primo Water has a 52-week low of $14.06 and a 52-week high of $28.06. The stock’s 50-day moving average is $25.27 and its two-hundred day moving average is $22.77. The stock has a market capitalization of $3.88 billion, a P/E ratio of 15.33, a PEG ratio of 1.93 and a beta of 1.10.

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

Institutional Trading of Primo Water

Several large investors have recently bought and sold shares of PRMW. Inspire Investing LLC purchased a new position in shares of Primo Water during the 1st quarter worth approximately $874,000. Global Alpha Capital Management Ltd. increased its position in Primo Water by 13.5% during the first quarter. Global Alpha Capital Management Ltd. now owns 127,000 shares of the company’s stock worth $2,313,000 after buying an additional 15,100 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Primo Water by 8.5% in the first quarter. ProShare Advisors LLC now owns 28,137 shares of the company’s stock worth $512,000 after acquiring an additional 2,215 shares during the last quarter. Tocqueville Asset Management L.P. lifted its position in shares of Primo Water by 108.7% in the first quarter. Tocqueville Asset Management L.P. now owns 96,000 shares of the company’s stock valued at $1,748,000 after acquiring an additional 50,000 shares in the last quarter. Finally, Forge First Asset Management Inc. acquired a new stake in shares of Primo Water during the first quarter valued at $6,792,000. Institutional investors and hedge funds 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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