According to Zacks, “Prime Water Corporation operates as a provider of three- and five-gallon purified bottled water and water dispensers sold through major retailers nationwide. The Company’s water bottles can be sanitized and reused, crushed and recycled. Also, it provides water bottle exchange solution for its retail customers. It operates through two segments, Primo Bottled Water Exchange and Primo Products. Prime Water Corporation is headquartered in Winston-Salem, North Carolina. “
A number of other analysts have also weighed in on the company. Imperial Capital dropped their price objective on Primo Water from $18.00 to $15.00 and set an outperform rating for the company in a research note on Wednesday, August 7th. ValuEngine raised shares of Primo Water from a hold rating to a buy rating in a research note on Thursday, September 5th. B. Riley reiterated a buy rating and set a $18.00 price target on shares of Primo Water in a report on Friday, September 6th. 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. Finally, Northland Securities reissued a buy rating and issued a $19.00 price target on shares of Primo Water in a report on Tuesday, June 25th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $17.80.
Primo Water (NASDAQ:PRMW) last released its earnings results on Monday, August 5th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Primo Water had a negative net margin of 18.85% and a positive return on equity of 11.75%. The company had revenue of $79.30 million during the quarter, compared to the consensus estimate of $78.01 million. During the same period last year, the firm posted $0.12 EPS. The company’s revenue was up 4.6% on a year-over-year basis. Equities research analysts forecast that Primo Water will post 0.26 earnings per share for the current fiscal year.
In related news, Director Susan E. Cates acquired 5,000 shares of Primo Water stock in a transaction on Wednesday, August 21st. The shares were acquired at an average cost of $12.23 per share, with a total value of $61,150.00. Following the transaction, the director now owns 28,968 shares in the company, valued at $354,278.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have acquired 6,459 shares of company stock worth $77,820. Insiders own 10.80% of the company’s stock.
Large investors have recently bought and sold shares of the company. Boston Partners bought a new position in Primo Water in the second quarter worth about $28,000. White Pine Capital LLC lifted its stake in shares of Primo Water by 11.7% in the 2nd quarter. White Pine Capital LLC now owns 207,785 shares of the company’s stock valued at $2,556,000 after purchasing an additional 21,775 shares during the period. Susquehanna International Group LLP purchased a new position in shares of Primo Water in the 2nd quarter valued at approximately $218,000. Nuveen Asset Management LLC boosted its position in shares of Primo Water by 8.3% during the second 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Primo Water by 1.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 53,205 shares of the company’s stock valued at $654,000 after purchasing an additional 853 shares in the last quarter. 90.21% of the stock is 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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