Primo Water Co. (NASDAQ:PRMW) – Barrington Research cut their Q2 2018 earnings estimates for shares of Primo Water in a research report issued on Monday, according to Zacks Investment Research. Barrington Research analyst M. Petusky now expects that the company will earn $0.07 per share for the quarter, down from their prior forecast of $0.08. Barrington Research has a “Outperform” rating and a $19.00 price target on the stock.
Primo Water (NASDAQ:PRMW) last issued its earnings results on Tuesday, November 7th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. Primo Water had a negative return on equity of 32.85% and a negative net margin of 8.17%.
Shares of Primo Water (PRMW) traded down $0.15 during mid-day trading on Wednesday, hitting $12.95. The stock had a trading volume of 318,500 shares, compared to its average volume of 293,590. The stock has a market cap of $393.19, a P/E ratio of -18.77, a price-to-earnings-growth ratio of 4.14 and a beta of -0.31. Primo Water has a fifty-two week low of $10.47 and a fifty-two week high of $15.39. The company has a current ratio of 0.99, a quick ratio of 0.82 and a debt-to-equity ratio of 3.99.
A number of institutional investors have recently added to or reduced their stakes in PRMW. Schwab Charles Investment Management Inc. increased its position in Primo Water by 42.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 49,200 shares of the company’s stock worth $625,000 after buying an additional 14,600 shares in the last quarter. Rhumbline Advisers increased its position in Primo Water by 19.6% during the second quarter. Rhumbline Advisers now owns 26,995 shares of the company’s stock worth $343,000 after buying an additional 4,425 shares in the last quarter. Bank of New York Mellon Corp increased its position in Primo Water by 2.5% during the second quarter. Bank of New York Mellon Corp now owns 102,540 shares of the company’s stock worth $1,302,000 after buying an additional 2,490 shares in the last quarter. Wells Fargo & Company MN increased its position in Primo Water by 28.5% during the second quarter. Wells Fargo & Company MN now owns 111,151 shares of the company’s stock worth $1,411,000 after buying an additional 24,646 shares in the last quarter. Finally, Alliancebernstein L.P. purchased a new position in Primo Water during the second quarter worth $218,000. 68.61% of the stock is owned by institutional investors.
In other Primo Water news, insider Camden Partners Strategic Fund sold 58,383 shares of the firm’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $12.35, for a total transaction of $721,030.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Castaneda sold 6,200 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $13.45, for a total value of $83,390.00. Following the transaction, the chief financial officer now directly owns 236,113 shares of the company’s stock, valued at approximately $3,175,719.85. The disclosure for this sale can be found here. Insiders sold a total of 130,295 shares of company stock valued at $1,636,440 over the last ninety days. 15.80% of the stock is currently owned by company insiders.
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Primo Water Company Profile
Primo Water Corporation (Primo) provides multi-gallon purified bottled water, self-service refill water and water dispensers. The Company’s products are sold through various retailers in the United States and Canada. It operates through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).
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