Primo Water (NASDAQ:PRMW) has been assigned a $17.00 target price by analysts at Northland Securities in a note issued to investors on Tuesday, TipRanks reports. The firm presently has a “buy” rating on the stock. Northland Securities’ price target would suggest a potential upside of 29.18% from the company’s current price.
A number of other equities analysts also recently commented on the company. BidaskClub upgraded Primo Water from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Imperial Capital reduced their price objective on Primo Water from $18.00 to $15.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Zacks Investment Research upgraded Primo Water from a “sell” rating to a “hold” rating in a report on Saturday. B. Riley reissued a “buy” rating and set a $18.00 target price on shares of Primo Water in a research report on Friday, September 6th. Finally, BMO Capital Markets set a $19.00 price target on shares of Primo Water and gave the company a “buy” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $17.40.
Shares of PRMW traded up $0.28 during mid-day trading on Tuesday, reaching $13.16. The company had a trading volume of 343,730 shares, compared to its average volume of 310,550. Primo Water has a fifty-two week low of $10.70 and a fifty-two week high of $20.26. The firm has a fifty day simple moving average of $12.83 and a 200-day simple moving average of $13.55. The stock has a market cap of $506.31 million, a price-to-earnings ratio of 38.71, a price-to-earnings-growth ratio of 4.09 and a beta of 0.80. The company has a current ratio of 0.99, a quick ratio of 0.71 and a debt-to-equity ratio of 2.05.
In other Primo Water news, Director Susan E. Cates purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was purchased 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have purchased 6,459 shares of company stock valued at $77,820. 10.80% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its holdings in Primo Water by 1.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 53,205 shares of the company’s stock worth $654,000 after acquiring an additional 853 shares during the period. US Bancorp DE raised its stake in shares of Primo Water by 8.0% during the second quarter. US Bancorp DE now owns 16,751 shares of the company’s stock valued at $206,000 after purchasing an additional 1,237 shares during the period. Boston Partners acquired a new position in shares of Primo Water during the second quarter worth $28,000. Aperio Group LLC acquired a new position in shares of Primo Water during the second quarter worth $35,000. Finally, Bank of Montreal Can boosted its stake in shares of Primo Water by 26,645.5% in the second quarter. Bank of Montreal Can now owns 2,942 shares of the company’s stock valued at $36,000 after purchasing an additional 2,931 shares during the period. Institutional investors and hedge funds own 90.21% 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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