Primo Water (PRMW) Downgraded by BidaskClub to “Sell”

Primo Water (NASDAQ:PRMW) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Saturday.

PRMW has been the topic of a number of other reports. Barrington Research boosted their target price on shares of Primo Water from $17.00 to $19.00 and gave the stock an “outperform” rating in a report on Wednesday, November 8th. ValuEngine downgraded shares of Primo Water from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. B. Riley reiterated a “buy” rating and issued a $17.50 target price on shares of Primo Water in a report on Wednesday, November 8th. Finally, Zacks Investment Research upgraded shares of Primo Water from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Friday, November 10th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Primo Water presently has a consensus rating of “Hold” and a consensus target price of $17.10.

Primo Water (NASDAQ:PRMW) traded up $0.11 during midday trading on Friday, hitting $12.56. 117,965 shares of the company were exchanged, compared to its average volume of 161,367. The company has a debt-to-equity ratio of 3.99, a current ratio of 0.99 and a quick ratio of 0.82. Primo Water has a twelve month low of $10.47 and a twelve month high of $15.39. The company has a market cap of $373.68, a P/E ratio of -18.20, a P/E/G ratio of 3.93 and a beta of -0.31.

In other news, insider Camden Partners Strategic Fund sold 58,383 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $12.35, for a total transaction of $721,030.05. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David L. Warnock sold 33,226 shares of the business’s stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $12.37, for a total transaction of $411,005.62. Following the sale, the director now owns 25,157 shares in the company, valued at approximately $311,192.09. The disclosure for this sale can be found here. Insiders sold a total of 130,295 shares of company stock worth $1,636,440 over the last quarter. Insiders own 15.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in PRMW. Thompson Davis & CO. Inc. acquired a new stake in shares of Primo Water during the second quarter valued at approximately $159,000. Nationwide Fund Advisors raised its holdings in shares of Primo Water by 17.1% during the second quarter. Nationwide Fund Advisors now owns 14,328 shares of the company’s stock valued at $182,000 after acquiring an additional 2,097 shares during the period. Voya Investment Management LLC raised its holdings in shares of Primo Water by 16.5% during the second quarter. Voya Investment Management LLC now owns 14,347 shares of the company’s stock valued at $182,000 after acquiring an additional 2,028 shares during the period. Alliancebernstein L.P. acquired a new stake in shares of Primo Water during the second quarter valued at approximately $218,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Primo Water by 20.8% during the second quarter. The Manufacturers Life Insurance Company now owns 21,080 shares of the company’s stock valued at $267,000 after acquiring an additional 3,625 shares during the period. Institutional investors and hedge funds own 68.61% of the company’s stock.

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Primo Water Company Profile

Primo Water Corporation (Primo) provides multi-gallon purified bottled water, self-service refill water and water dispensers. The Company’s products are sold through various retailers in the United States and Canada. It operates through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).

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