Primo Water (NASDAQ:PRMW) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of Primo Water (NASDAQ:PRMW) from a hold rating to a buy rating in a research report report published on Wednesday, BidAskClub reports.

Other analysts also recently issued research reports about the company. Barrington Research set a $18.00 target price on Primo Water and gave the stock a buy rating in a research report on Wednesday, June 26th. Northland Securities reaffirmed a buy rating and issued a $19.00 price target on shares of Primo Water in a research note on Tuesday, June 25th. ValuEngine raised Primo Water from a sell rating to a hold rating in a research note on Thursday, June 6th. Zacks Investment Research cut Primo Water from a hold rating to a sell rating in a research note on Friday, May 17th. Finally, Imperial Capital reaffirmed an outperform rating and issued a $18.00 price target (down from $20.00) on shares of Primo Water in a research note on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $19.50.

NASDAQ:PRMW traded down $0.35 during mid-day trading on Wednesday, reaching $14.13. The stock had a trading volume of 226,978 shares, compared to its average volume of 233,838. The company has a 50 day moving average price of $13.28. The company has a market capitalization of $576.77 million, a PE ratio of 49.23, a P/E/G ratio of 3.42 and a beta of 0.71. Primo Water has a one year low of $10.70 and a one year high of $20.72. The company has a quick ratio of 0.70, a current ratio of 0.99 and a debt-to-equity ratio of 2.10.

Primo Water (NASDAQ:PRMW) last released its earnings results on Tuesday, May 7th. The company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.01). The firm had revenue of $70.05 million during the quarter, compared to the consensus estimate of $70.00 million. Primo Water had a positive return on equity of 11.15% and a negative net margin of 19.21%. Equities research analysts anticipate that Primo Water will post 0.36 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the business. Akre Capital Management LLC increased its stake in shares of Primo Water by 0.5% during the first quarter. Akre Capital Management LLC now owns 2,858,679 shares of the company’s stock valued at $44,195,000 after buying an additional 13,459 shares during the period. BlackRock Inc. increased its stake in shares of Primo Water by 10.5% during the fourth quarter. BlackRock Inc. now owns 2,444,917 shares of the company’s stock valued at $34,253,000 after buying an additional 233,001 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Primo Water by 11.8% during the first quarter. JPMorgan Chase & Co. now owns 1,750,583 shares of the company’s stock valued at $27,064,000 after buying an additional 184,417 shares during the period. William Blair Investment Management LLC increased its stake in shares of Primo Water by 24.9% during the first quarter. William Blair Investment Management LLC now owns 1,527,266 shares of the company’s stock valued at $23,612,000 after buying an additional 304,083 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Primo Water by 3.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,257,632 shares of the company’s stock valued at $17,619,000 after buying an additional 44,543 shares during the period. 86.40% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Primo Water (NASDAQ:PRMW)

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