Primo Water (NASDAQ:PRMW) Given a $17.00 Price Target at Northland Securities

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.

Primo Water (NASDAQ:PRMW) last issued its earnings results on Monday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Primo Water had a positive return on equity of 11.75% and a negative net margin of 18.85%. The firm had revenue of $79.30 million during the quarter, compared to analyst estimates of $78.01 million. During the same period in the previous year, the company earned $0.12 EPS. Primo Water’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, analysts anticipate that Primo Water will post 0.26 earnings per share for the current fiscal year.

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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Analyst Recommendations for Primo Water (NASDAQ:PRMW)

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