Brokers Issue Forecasts for Primo Water Co.’s Q2 2018 Earnings (PRMW)

Primo Water Co. (NASDAQ:PRMW) – Research analysts at Barrington Research decreased their Q2 2018 earnings per share estimates for Primo Water in a report issued on Monday. Barrington Research analyst M. Petusky now anticipates that the company will post earnings per share of $0.07 for the quarter, down from their previous forecast of $0.08. Barrington Research has a “Outperform” rating and a $19.00 price target on the stock.

Other research analysts have also issued research reports about the company. Zacks Investment Research raised Primo Water from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Friday, November 10th. B. Riley reaffirmed a “buy” rating and issued a $17.50 target price on shares of Primo Water in a report on Wednesday, November 8th. BidaskClub raised Primo Water from a “sell” rating to a “hold” rating in a report on Thursday, December 21st. Finally, ValuEngine lowered Primo Water from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $17.10.

Shares of Primo Water (PRMW) traded down $0.32 during midday trading on Wednesday, hitting $12.60. The stock had a trading volume of 382,800 shares, compared to its average volume of 289,043. The company has a debt-to-equity ratio of 3.99, a quick ratio of 0.82 and a current ratio of 0.99. The firm has a market cap of $387.87, a price-to-earnings ratio of -18.26, a price-to-earnings-growth ratio of 3.97 and a beta of -0.31. Primo Water has a fifty-two week low of $10.47 and a fifty-two week high of $15.39.

In other Primo Water news, CFO Mark Castaneda sold 6,200 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $13.45, for a total value of $83,390.00. Following the completion of the sale, the chief financial officer now owns 236,113 shares in the company, valued at approximately $3,175,719.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David L. Warnock sold 33,226 shares of the firm’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $12.37, for a total value of $411,005.62. Following the completion of the sale, the director now owns 25,157 shares of the company’s stock, 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 valued at $1,636,440 in the last quarter. Corporate insiders own 15.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in the business. Argent Capital Management LLC lifted its position in shares of Primo Water by 25.6% in the 3rd quarter. Argent Capital Management LLC now owns 161,300 shares of the company’s stock worth $1,911,000 after acquiring an additional 32,875 shares during the period. First Allied Advisory Services Inc. bought a new stake in shares of Primo Water in the 3rd quarter worth approximately $281,000. B. Riley Financial Inc. lifted its position in shares of Primo Water by 25.5% in the 3rd quarter. B. Riley Financial Inc. now owns 105,920 shares of the company’s stock worth $1,234,000 after acquiring an additional 21,545 shares during the period. Elk Creek Partners LLC lifted its position in shares of Primo Water by 22.8% in the 3rd quarter. Elk Creek Partners LLC now owns 761,585 shares of the company’s stock worth $9,025,000 after acquiring an additional 141,586 shares during the period. Finally, Wells Fargo & Company MN lifted its position in shares of Primo Water by 14.4% in the 3rd quarter. Wells Fargo & Company MN now owns 127,157 shares of the company’s stock worth $1,507,000 after acquiring an additional 16,006 shares during the period. Institutional investors 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).

Earnings History and Estimates for Primo Water (NASDAQ:PRMW)

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