Primo Water Co. (NYSE:PRMW) Receives $20.33 Average PT from Analysts

Primo Water Co. (NYSE:PRMW) has been assigned a consensus rating of “Moderate Buy” from the four brokerages that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $20.33.

Several research firms have recently commented on PRMW. JPMorgan Chase & Co. raised their price objective on Primo Water from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, August 11th. TD Securities lifted their target price on Primo Water from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, August 11th. Finally, StockNews.com raised Primo Water from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 14th.

Primo Water Trading Down 0.3 %

Shares of NYSE:PRMW opened at $14.71 on Tuesday. The stock’s 50-day simple moving average is $14.59 and its two-hundred day simple moving average is $14.13. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.62 and a current ratio of 0.78. Primo Water has a 52-week low of $12.27 and a 52-week high of $16.47. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 1.12 and a beta of 1.04.

Primo Water (NYSE:PRMW) last posted its quarterly earnings data on Thursday, August 10th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02. Primo Water had a return on equity of 7.96% and a net margin of 3.81%. The firm had revenue of $593.30 million for the quarter, compared to the consensus estimate of $586.22 million. Analysts expect that Primo Water will post 0.75 EPS for the current year.

Primo Water Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Thursday, August 24th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Wednesday, August 23rd. Primo Water’s dividend payout ratio (DPR) is presently 59.26%.

Institutional Trading of Primo Water

A number of large investors have recently added to or reduced their stakes in PRMW. Ancora Advisors LLC bought a new stake in Primo Water in the 1st quarter worth approximately $36,000. PNC Financial Services Group Inc. grew its position in Primo Water by 26.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,126 shares of the company’s stock valued at $52,000 after acquiring an additional 853 shares during the last quarter. Point72 Middle East FZE bought a new position in Primo Water in the 4th quarter valued at $54,000. Clear Street Markets LLC bought a new position in Primo Water in the 4th quarter valued at $56,000. Finally, Ronald Blue Trust Inc. grew its position in Primo Water by 44.8% in the 1st quarter. Ronald Blue Trust Inc. now owns 4,287 shares of the company’s stock valued at $67,000 after acquiring an additional 1,326 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Primo Water Company Profile

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 water, filtration equipment, and coffee. The company offers its products under the Primo, Alhambra, Crystal Rock, Mountain Valley, Deep Rock, Hinckley Springs, Crystal Springs, Kentwood Springs, Mount Olympus, Pureflo, Sierra Springs, Sparkletts, and Renü brands in the United States; Canadian Springs, Labrador Source, and Amazon Springs brands in Canada; and Decantae, Eden, Eden Springs, Chateaud'eau, and Mey Eden brands in Europe and Israel.