Primo Water Co. (NYSE:PRMW) Receives $25.83 Average PT from Analysts

Shares of Primo Water Co. (NYSE:PRMW) have been given an average rating of “Moderate Buy” by the five brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $25.83.

Several research analysts have recently weighed in on PRMW shares. StockNews.com upgraded shares of Primo Water from a “hold” rating to a “buy” rating in a research note on Friday, May 17th. Raymond James downgraded Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price target on the stock. in a research report on Wednesday, April 3rd. TD Securities raised their price objective on Primo Water from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Royal Bank of Canada reissued an “outperform” rating and set a $30.00 target price on shares of Primo Water in a report on Tuesday, June 18th. Finally, JPMorgan Chase & Co. raised their price target on Primo Water from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th.

Hedge Funds Weigh In On Primo Water

Several hedge funds have recently bought and sold shares of PRMW. Walleye Capital LLC lifted its holdings in shares of Primo Water by 761.6% in the third quarter. Walleye Capital LLC now owns 111,030 shares of the company’s stock worth $1,532,000 after acquiring an additional 98,144 shares during the last quarter. Public Sector Pension Investment Board boosted its position in Primo Water by 0.8% in the third quarter. Public Sector Pension Investment Board now owns 347,402 shares of the company’s stock valued at $4,820,000 after buying an additional 2,833 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Primo Water during the third quarter worth $33,135,000. Vanguard Group Inc. increased its holdings in shares of Primo Water by 4.5% during the third quarter. Vanguard Group Inc. now owns 11,910,887 shares of the company’s stock worth $164,370,000 after buying an additional 508,251 shares in the last quarter. Finally, Fulton Bank N.A. boosted its holdings in shares of Primo Water by 10.2% during the 4th quarter. Fulton Bank N.A. now owns 20,290 shares of the company’s stock valued at $305,000 after acquiring an additional 1,870 shares in the last quarter. 87.71% of the stock is owned by institutional investors.

Primo Water Trading Down 1.4 %

Shares of NYSE:PRMW opened at $20.40 on Friday. The company’s 50-day moving average price is $21.86 and its two-hundred day moving average price is $18.45. Primo Water has a one year low of $12.92 and a one year high of $25.60. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 2.02. The stock has a market capitalization of $3.28 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of 1.53 and a beta of 1.10.

Primo Water (NYSE:PRMW) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.13 by $0.05. The company had revenue of $452.00 million during the quarter, compared to the consensus estimate of $438.81 million. Primo Water had a return on equity of 9.36% and a net margin of 12.22%. On average, equities analysts forecast that Primo Water will post 0.89 EPS for the current fiscal year.

Primo Water Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Friday, June 7th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Friday, June 7th. Primo Water’s dividend payout ratio is 22.36%.

About Primo Water

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.