Primo Water (NYSE:PRMW) Lowered to “Hold” at StockNews.com

Primo Water (NYSE:PRMW) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Saturday.

PRMW has been the topic of several other research reports. JPMorgan Chase & Co. upped their price objective on Primo Water from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. TD Securities lowered their price objective on Primo Water from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, January 11th. Finally, Raymond James downgraded Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 target price for the company. in a research note on Wednesday, April 3rd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Primo Water has a consensus rating of “Moderate Buy” and an average target price of $20.75.

Primo Water Price Performance

Shares of NYSE PRMW opened at $18.95 on Friday. The business’s 50 day moving average price is $17.38 and its 200 day moving average price is $15.52. The firm has a market cap of $3.05 billion, a P/E ratio of 12.72, a P/E/G ratio of 1.77 and a beta of 1.12. Primo Water has a 52 week low of $12.27 and a 52 week high of $19.01. The company has a quick ratio of 1.92, a current ratio of 2.03 and a debt-to-equity ratio of 0.88.

Primo Water (NYSE:PRMW) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.10). Primo Water had a return on equity of 8.55% and a net margin of 10.82%. The company had revenue of $438.70 million during the quarter, compared to analysts’ expectations of $582.93 million. On average, sell-side analysts expect that Primo Water will post 0.82 earnings per share for the current year.

Hedge Funds Weigh In On Primo Water

Hedge funds have recently modified their holdings of the business. Signaturefd LLC boosted its holdings in Primo Water by 358.1% during the 4th quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock valued at $36,000 after acquiring an additional 1,848 shares during the period. CWM LLC raised its position in Primo Water by 36.0% in the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock valued at $43,000 after purchasing an additional 631 shares in the last quarter. Nomura Asset Management Co. Ltd. acquired a new stake in Primo Water in the 3rd quarter valued at about $102,000. Aigen Investment Management LP acquired a new stake in Primo Water in the 3rd quarter valued at about $139,000. Finally, Blueshift Asset Management LLC acquired a new stake in Primo Water in the 3rd quarter valued at about $159,000. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

About Primo Water

Primo Water Corporation provides pure-play water solutions for residential and commercial customers. It offers bottled water, water dispensers, purified bottled water, self-service refill drinking water, premium spring, mineral water, sparkling and flavored essence water, filtration units, and coffee.