Primo Water (NYSE:PRMW) Downgraded by StockNews.com to “Hold”

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

Several other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Primo Water from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday. TD Securities reduced their target price on Primo Water from $26.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, January 11th. Finally, Raymond James lowered Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price target for the company. in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Primo Water has a consensus rating of “Moderate Buy” and an average target price of $21.25.

Primo Water Stock Performance

PRMW stock opened at $19.89 on Friday. The company has a market capitalization of $3.20 billion, a P/E ratio of 13.35, a PEG ratio of 1.85 and a beta of 1.09. The company has a 50-day simple moving average of $17.78 and a 200 day simple moving average of $15.72. Primo Water has a fifty-two week low of $12.27 and a fifty-two week high of $19.93. 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 issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.10). The business had revenue of $438.70 million during the quarter, compared to analyst estimates of $582.93 million. Primo Water had a net margin of 10.82% and a return on equity of 8.55%. Sell-side analysts predict that Primo Water will post 0.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Primo Water

Institutional investors and hedge funds have recently bought and sold shares of the business. Signaturefd LLC boosted its holdings in shares of Primo Water by 358.1% during the fourth quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock worth $36,000 after purchasing an additional 1,848 shares during the period. CWM LLC grew its holdings in shares of Primo Water by 36.0% during the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock valued at $43,000 after acquiring an additional 631 shares in the last quarter. Nomura Asset Management Co. Ltd. acquired a new position in shares of Primo Water in the third quarter worth $102,000. Aigen Investment Management LP purchased a new stake in shares of Primo Water during the third quarter worth $139,000. Finally, Blueshift Asset Management LLC purchased a new stake in shares of Primo Water during the third quarter worth $159,000. Hedge funds and other institutional investors own 87.71% of the company’s stock.

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.