Primo Water (NYSE:PRMW) Sees Unusually-High Trading Volume – Still a Buy?

Primo Water Co. (NYSE:PRMW) shares saw unusually-high trading volume on Friday . Approximately 10,030,067 shares traded hands during trading, an increase of 716% from the previous session’s volume of 1,228,735 shares.The stock last traded at $26.28 and had previously closed at $26.23.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PRMW. StockNews.com cut shares of Primo Water from a “buy” rating to a “hold” rating in a research note on Sunday, October 13th. Raymond James cut Primo Water from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $30.00 target price on shares of Primo Water in a research note on Tuesday, October 1st. Finally, William Blair initiated coverage on shares of Primo Water in a report on Thursday, October 24th. They set an “outperform” rating on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

Primo Water Stock Performance

The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 16.79, a price-to-earnings-growth ratio of 1.97 and a beta of 1.10. The stock has a 50-day moving average of $25.01 and a 200 day moving average of $22.60.

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

Primo Water Dividend Announcement

The business also recently declared a — dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a $0.82 dividend. The ex-dividend date is Tuesday, November 5th. This represents a dividend yield of 1.3%. Primo Water’s dividend payout ratio is currently 22.78%.

Institutional Investors Weigh In On Primo Water

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in shares of Primo Water by 375.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock valued at $31,000 after acquiring an additional 981 shares during the last quarter. Cedar Wealth Management LLC bought a new stake in Primo Water in the first quarter valued at approximately $27,000. Blue Trust Inc. raised its holdings in Primo Water by 52.1% in the third quarter. Blue Trust Inc. now owns 1,871 shares of the company’s stock worth $47,000 after purchasing an additional 641 shares during the period. Sound Income Strategies LLC bought a new position in shares of Primo Water during the third quarter worth $48,000. Finally, CWM LLC grew its holdings in shares of Primo Water by 31.5% in the 3rd quarter. CWM LLC now owns 3,310 shares of the company’s stock valued at $84,000 after buying an additional 792 shares during the period. Institutional investors own 87.71% of the company’s stock.

Primo Water Company Profile

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.