Primo Water Co. (PRMW) Receives Average Rating of “Buy” from Analysts

Primo Water Co. (NASDAQ:PRMW) has been given a consensus recommendation of “Buy” by the seven research firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $20.33.

Several research firms recently commented on PRMW. BidaskClub raised shares of Primo Water from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 11th. Zacks Investment Research cut shares of Primo Water from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. BMO Capital Markets boosted their price objective on shares of Primo Water from $16.00 to $18.00 and gave the company a “market perform” rating in a research report on Wednesday, August 8th. ValuEngine raised shares of Primo Water from a “hold” rating to a “buy” rating in a research report on Friday, May 11th. Finally, Barrington Research reissued a “buy” rating and set a $20.00 price target on shares of Primo Water in a research report on Wednesday, May 9th.

PRMW opened at $19.96 on Tuesday. The firm has a market capitalization of $761.07 million, a P/E ratio of -71.29, a P/E/G ratio of 4.43 and a beta of -0.14. Primo Water has a 12 month low of $10.47 and a 12 month high of $20.72. The company has a current ratio of 1.06, a quick ratio of 0.88 and a debt-to-equity ratio of 1.24.

Primo Water (NASDAQ:PRMW) last posted its quarterly earnings data on Tuesday, August 7th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.05 by $0.04. The business had revenue of $75.80 million for the quarter, compared to analysts’ expectations of $72.96 million. Primo Water had a net margin of 3.21% and a return on equity of 8.21%. equities analysts forecast that Primo Water will post 0.38 EPS for the current year.

In other Primo Water news, Director Charles A. Norris sold 25,000 shares of the business’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $20.41, for a total transaction of $510,250.00. Following the sale, the director now directly owns 167,556 shares of the company’s stock, valued at approximately $3,419,817.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Michael Cauthen sold 1,377 shares of the business’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $19.56, for a total transaction of $26,934.12. Following the sale, the vice president now directly owns 6,159 shares in the company, valued at $120,470.04. The disclosure for this sale can be found here. Insiders own 13.50% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Akre Capital Management LLC lifted its position in Primo Water by 48.6% during the 2nd quarter. Akre Capital Management LLC now owns 2,843,220 shares of the company’s stock worth $49,728,000 after buying an additional 930,000 shares in the last quarter. BlackRock Inc. lifted its position in Primo Water by 23.4% during the 2nd quarter. BlackRock Inc. now owns 1,804,996 shares of the company’s stock worth $31,569,000 after buying an additional 342,728 shares in the last quarter. Manatuck Hill Partners LLC lifted its position in Primo Water by 7.1% during the 2nd quarter. Manatuck Hill Partners LLC now owns 1,292,000 shares of the company’s stock worth $22,597,000 after buying an additional 86,000 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Primo Water by 31.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,045,086 shares of the company’s stock valued at $18,279,000 after purchasing an additional 251,899 shares during the period. Finally, Legion Partners Asset Management LLC raised its holdings in shares of Primo Water by 34.9% in the 1st quarter. Legion Partners Asset Management LLC now owns 812,774 shares of the company’s stock valued at $9,518,000 after purchasing an additional 210,087 shares during the period. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

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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