Northland Securities set a $17.00 price target on Primo Water (NASDAQ:PRMW) in a research report released on Tuesday, TipRanks reports. The brokerage currently has a buy rating on the stock.
Several other equities research analysts also recently commented on PRMW. ValuEngine upgraded shares of Primo Water from a hold rating to a buy rating in a research report on Thursday, September 5th. Zacks Investment Research raised shares of Primo Water from a sell rating to a hold rating in a report on Saturday. BMO Capital Markets set a $19.00 price target on shares of Primo Water and gave the company a buy rating in a research report on Wednesday, July 31st. BidaskClub raised shares of Primo Water from a hold rating to a buy rating in a research note on Friday, September 6th. Finally, Imperial Capital cut their price target on shares of Primo Water from $18.00 to $15.00 and set an outperform rating on the stock in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $17.40.
PRMW stock traded up $0.28 during midday trading on Tuesday, reaching $13.16. 343,730 shares of the stock were exchanged, compared to its average volume of 310,550. The stock has a market capitalization of $506.31 million, a PE ratio of 38.71, a P/E/G ratio of 4.09 and a beta of 0.80. Primo Water has a 52 week low of $10.70 and a 52 week high of $20.26. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.99 and a quick ratio of 0.71. The company has a fifty day moving average price of $12.81 and a 200 day moving average price of $13.54.
In related news, Director Susan E. Cates purchased 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was bought at an average price of $12.23 per share, with a total value of $61,150.00. Following the completion of the purchase, the director now owns 28,968 shares in the company, valued at approximately $354,278.64. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders bought 6,459 shares of company stock valued at $77,820. Insiders own 10.80% of the company’s stock.
Several institutional investors have recently bought and sold shares of PRMW. Legion Partners Asset Management LLC increased its position in Primo Water by 17.6% during the 2nd quarter. Legion Partners Asset Management LLC now owns 3,173,146 shares of the company’s stock valued at $39,030,000 after purchasing an additional 474,375 shares during the period. Akre Capital Management LLC lifted its position in shares of Primo Water by 6.7% in the 2nd quarter. Akre Capital Management LLC now owns 3,049,100 shares of the company’s stock worth $37,504,000 after purchasing an additional 190,421 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Primo Water by 8.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,400,571 shares of the company’s stock valued at $29,527,000 after purchasing an additional 184,111 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Primo Water by 5.1% in the 2nd quarter. BlackRock Inc. now owns 2,396,335 shares of the company’s stock valued at $29,475,000 after purchasing an additional 117,124 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Primo Water by 9.5% during the second quarter. JPMorgan Chase & Co. now owns 1,916,291 shares of the company’s stock worth $23,456,000 after buying an additional 165,708 shares during the period. 90.21% of the stock is currently owned by 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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