Primo Water Co. (NASDAQ:PRMW) has earned a consensus recommendation of “Buy” from the eight ratings firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $17.40.
Several research analysts recently issued reports on the stock. BMO Capital Markets set a $19.00 price target on shares of Primo Water and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Barrington Research set a $18.00 price target on shares of Primo Water and gave the stock a “buy” rating in a research note on Wednesday, June 26th. B. Riley reiterated a “buy” rating and issued a $18.00 price target on shares of Primo Water in a research note on Friday, September 6th. Zacks Investment Research upgraded shares of Primo Water from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, ValuEngine upgraded shares of Primo Water from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th.
Shares of NASDAQ:PRMW traded down $0.01 on Wednesday, hitting $12.01. The company had a trading volume of 107,373 shares, compared to its average volume of 299,931. The firm’s 50-day simple moving average is $12.54 and its two-hundred day simple moving average is $13.29. Primo Water has a 1 year low of $10.70 and a 1 year high of $17.99. The company has a quick ratio of 0.71, a current ratio of 0.99 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of $471.01 million, a price-to-earnings ratio of 35.32, a P/E/G ratio of 4.08 and a beta of 0.78.
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 bought at an average cost of $12.23 per share, for a total transaction of $61,150.00. Following the purchase, the director now directly owns 28,968 shares in the company, valued at $354,278.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders purchased 6,459 shares of company stock valued at $77,820. 10.80% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of PRMW. SG Capital Management LLC bought a new position in shares of Primo Water in the 2nd quarter worth about $7,251,000. Heartland Advisors Inc. bought a new stake in Primo Water during the 2nd quarter valued at about $6,683,000. Legion Partners Asset Management LLC increased its stake 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 in the last quarter. William Blair Investment Management LLC increased its stake in Primo Water by 24.9% during the 1st quarter. William Blair Investment Management LLC now owns 1,527,266 shares of the company’s stock valued at $23,612,000 after purchasing an additional 304,083 shares in the last quarter. Finally, First Trust Advisors LP bought a new stake in Primo Water during the 1st quarter valued at about $4,509,000. Institutional investors 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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