Primo Water (NASDAQ:PRMW) Rating Increased to Sell at BidaskClub

Primo Water (NASDAQ:PRMW) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Tuesday, BidAskClub reports.

PRMW has been the topic of several other reports. TD Securities upped their price objective on shares of Primo Water from $14.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Royal Bank of Canada reiterated a “buy” rating on shares of Primo Water in a research note on Monday, August 10th. Zacks Investment Research upgraded shares of Primo Water from a “sell” rating to a “hold” rating in a research note on Friday, June 26th. Finally, Citigroup boosted their target price on shares of Primo Water from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $15.32.

PRMW stock opened at $14.45 on Tuesday. The firm’s fifty day simple moving average is $14.24 and its 200-day simple moving average is $12.33. The company has a market capitalization of $2.31 billion, a P/E ratio of 160.57, a price-to-earnings-growth ratio of 4.62 and a beta of 0.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.92 and a quick ratio of 0.70. Primo Water has a 12 month low of $6.33 and a 12 month high of $16.00.

Primo Water (NASDAQ:PRMW) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.02 by $0.06. The business had revenue of $456.80 million for the quarter, compared to the consensus estimate of $448.21 million. Primo Water had a net margin of 1.29% and a return on equity of 7.11%. As a group, sell-side analysts forecast that Primo Water will post 0.12 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE raised its position in shares of Primo Water by 89.2% in the second quarter. US Bancorp DE now owns 2,630 shares of the company’s stock valued at $36,000 after buying an additional 1,240 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Primo Water in the first quarter valued at about $40,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Primo Water in the first quarter valued at about $52,000. Philadelphia Trust Co. purchased a new stake in shares of Primo Water in the first quarter valued at about $92,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Primo Water in the first quarter valued at about $98,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

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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