Primo Water Co. (NYSE:PRMW) Given Consensus Rating of “Moderate Buy” by Brokerages

Primo Water Co. (NYSE:PRMW) has received an average rating of “Moderate Buy” from the five analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $25.83.

PRMW has been the topic of a number of research analyst reports. StockNews.com raised shares of Primo Water from a “hold” rating to a “buy” rating in a report on Monday. Royal Bank of Canada restated an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a research report on Tuesday, June 18th. JPMorgan Chase & Co. increased their price objective on Primo Water from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. TD Securities boosted their target price on Primo Water from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Finally, CIBC upped their price target on Primo Water from $24.00 to $26.00 and gave the company an “outperformer” rating in a research note on Tuesday, June 18th.

Institutional Trading of Primo Water

Institutional investors and hedge funds have recently modified their holdings of the stock. Cedar Wealth Management LLC acquired a new stake in Primo Water during the 1st quarter worth $27,000. CWM LLC raised its position in shares of Primo Water by 36.0% during the first quarter. CWM LLC now owns 2,384 shares of the company’s stock worth $43,000 after purchasing an additional 631 shares during the period. Crewe Advisors LLC bought a new position in shares of Primo Water during the 1st quarter valued at about $66,000. Clearstead Trust LLC acquired a new position in shares of Primo Water in the 2nd quarter valued at approximately $109,000. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Primo Water in the 2nd quarter valued at approximately $151,000. 87.71% of the stock is owned by institutional investors.

Primo Water Stock Performance

NYSE PRMW opened at $24.98 on Wednesday. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 1.87 and a beta of 1.10. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. Primo Water has a 1-year low of $12.92 and a 1-year high of $25.60. The company has a 50 day moving average of $22.68 and a 200-day moving average of $21.15.

Primo Water (NYSE:PRMW) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. The firm had revenue of $485.00 million during the quarter, compared to the consensus estimate of $477.40 million. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS. On average, equities analysts forecast that Primo Water will post 0.88 earnings per share for the current fiscal year.

Primo Water Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Thursday, August 22nd. Primo Water’s dividend payout ratio (DPR) is currently 22.36%.

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.