Primo Water Co. (NASDAQ:PRMW) Receives $17.40 Consensus PT from Brokerages

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.

Primo Water (NASDAQ:PRMW) last posted its earnings results on Monday, August 5th. The company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 company had revenue of $79.30 million during the quarter, compared to analysts’ expectations of $78.01 million. During the same period in the prior year, the business posted $0.12 earnings per share. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities research analysts anticipate that Primo Water will post 0.25 EPS for the current year.

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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Analyst Recommendations for Primo Water (NASDAQ:PRMW)

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