Primo Water Co. (NYSE:PRMW) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Primo Water Co. (NYSE:PRMW) have been assigned an average rating of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $25.83.

Several analysts have weighed in on the stock. CIBC boosted their price target on shares of Primo Water from $24.00 to $26.00 and gave the stock an “outperformer” rating in a research note on Tuesday, June 18th. TD Securities boosted their target price on Primo Water from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. StockNews.com upgraded Primo Water from a “hold” rating to a “buy” rating in a research report on Monday. JPMorgan Chase & Co. lifted their price target on Primo Water from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $30.00 price objective on shares of Primo Water in a research note on Tuesday.

Primo Water Stock Down 1.2 %

Shares of NYSE:PRMW opened at $24.94 on Wednesday. The firm has a market capitalization of $4.01 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 1.87 and a beta of 1.10. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. Primo Water has a 52-week low of $12.92 and a 52-week high of $25.67. The firm has a fifty day moving average of $22.85 and a 200 day moving average of $21.26.

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

Primo Water Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.44%. The ex-dividend date was Thursday, August 22nd. Primo Water’s payout ratio is currently 22.36%.

Hedge Funds Weigh In On Primo Water

Several large investors have recently made changes to their positions in PRMW. Cedar Wealth Management LLC purchased a new stake in shares of Primo Water in the 1st quarter worth approximately $27,000. CWM LLC boosted its holdings in Primo Water by 36.0% in the first quarter. CWM LLC now owns 2,384 shares of the company’s stock worth $43,000 after acquiring an additional 631 shares in the last quarter. Crewe Advisors LLC purchased a new stake in shares of Primo Water in the first quarter worth $66,000. Clearstead Trust LLC bought a new position in shares of Primo Water during the second quarter valued at $109,000. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Primo Water in the 2nd quarter worth about $151,000. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

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.