Northland Securities initiated coverage on shares of Primo Water (NASDAQ:PRMW) in a report released on Friday morning, Stock Target Advisor reports. The firm issued a buy rating and a $16.00 target price on the stock.
Several other research firms have also commented on PRMW. Zacks Investment Research upgraded shares of Primo Water from a sell rating to a hold rating in a research note on Thursday, October 24th. Barrington Research restated a buy rating and set a $15.00 price target on shares of Primo Water in a research note on Wednesday, November 6th. BidaskClub lowered shares of Primo Water from a hold rating to a sell rating in a research note on Thursday, November 14th. 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. Finally, Lake Street Capital lowered shares of Primo Water from a buy rating to a hold rating and decreased their price target for the stock from $18.00 to $14.00 in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Primo Water currently has an average rating of Hold and a consensus price target of $16.17.
NASDAQ:PRMW traded up $0.03 on Friday, hitting $9.72. The stock had a trading volume of 6,337 shares, compared to its average volume of 333,715. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.92. The stock has a market cap of $395.10 million, a P/E ratio of 28.59, a price-to-earnings-growth ratio of 6.99 and a beta of 0.78. Primo Water has a 1 year low of $9.68 and a 1 year high of $16.35. The firm’s fifty day simple moving average is $11.58 and its two-hundred day simple moving average is $12.47.
Hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its stake in Primo Water by 176.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,091 shares of the company’s stock valued at $25,000 after buying an additional 1,335 shares in the last quarter. Boston Partners purchased a new position in Primo Water in the 2nd quarter valued at approximately $28,000. Usca Ria LLC purchased a new position in Primo Water in the 3rd quarter valued at approximately $31,000. Aperio Group LLC purchased a new position in Primo Water in the 2nd quarter valued at approximately $35,000. Finally, Bank of Montreal Can grew its stake in Primo Water by 26,645.5% in the 2nd quarter. Bank of Montreal Can now owns 2,942 shares of the company’s stock valued at $36,000 after buying an additional 2,931 shares in the last quarter. Institutional investors own 85.17% of the company’s stock.
Primo Water Company Profile
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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