Primo Water Co. (NYSE:PRMW) Receives Average Rating of “Buy” from Analysts

Primo Water Co. (NYSE:PRMW) has received an average recommendation of “Buy” from the ten research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $20.29.

Several research analysts recently issued reports on PRMW shares. TheStreet raised Primo Water from a “c+” rating to a “b” rating in a research note on Thursday, November 11th. Royal Bank of Canada increased their target price on Primo Water from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Friday, November 5th. Zacks Investment Research cut Primo Water from a “hold” rating to a “sell” rating in a research report on Tuesday, November 16th. TD Securities increased their target price on Primo Water from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, November 18th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Primo Water from $19.00 to $20.00 and gave the company a “hold” rating in a report on Thursday, November 18th.

Shares of PRMW traded down $0.08 on Friday, reaching $17.97. The stock had a trading volume of 531,378 shares, compared to its average volume of 1,108,103. The company has a 50-day simple moving average of $16.95 and a 200-day simple moving average of $16.99. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of -138.23 and a beta of 1.28. Primo Water has a 12-month low of $14.20 and a 12-month high of $20.12. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.69 and a current ratio of 0.80.

Primo Water (NYSE:PRMW) last issued its quarterly earnings data on Thursday, November 4th. The company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). Primo Water had a positive return on equity of 6.33% and a negative net margin of 1.05%. During the same period in the prior year, the business posted $0.21 earnings per share. On average, analysts expect that Primo Water will post 0.76 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 3rd. Investors of record on Tuesday, November 23rd will be paid a $0.06 dividend. The ex-dividend date is Monday, November 22nd. This represents a $0.24 dividend on an annualized basis and a yield of 1.34%. Primo Water’s dividend payout ratio (DPR) is -184.62%.

In related news, Director Eric Rosenfeld sold 42,857 shares of Primo Water stock in a transaction dated Monday, November 22nd. The stock was sold at an average price of $18.41, for a total value of $788,997.37. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeremy S. G. Fowden sold 13,710 shares of Primo Water stock in a transaction dated Friday, August 27th. The stock was sold at an average price of $17.71, for a total value of $242,804.10. Following the completion of the sale, the director now owns 1,373,000 shares in the company, valued at $24,315,830. The disclosure for this sale can be found here. Insiders sold a total of 652,976 shares of company stock valued at $12,042,771 in the last 90 days. 5.90% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS Asset Management Americas Inc. raised its position in shares of Primo Water by 24.9% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 207,957 shares of the company’s stock valued at $3,479,000 after buying an additional 41,470 shares during the period. Point72 Asset Management L.P. purchased a new stake in Primo Water in the second quarter valued at approximately $3,343,000. CIBC Asset Management Inc raised its position in Primo Water by 8.2% in the second quarter. CIBC Asset Management Inc now owns 124,328 shares of the company’s stock valued at $2,078,000 after purchasing an additional 9,377 shares during the period. Wells Fargo & Company MN raised its position in Primo Water by 23.3% in the second quarter. Wells Fargo & Company MN now owns 4,458,215 shares of the company’s stock valued at $74,600,000 after purchasing an additional 842,913 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in Primo Water in the second quarter valued at approximately $191,000. 90.87% of the stock is currently owned by institutional investors and hedge funds.

Primo Water Company Profile

Primo Water Corp. engages in the manufacture, process, and distribution of beverages. It operates through the following segments: North America, Rest of World, and All Other. The North America segment offers bottled water, water filtration, and coffee services to customers in North America. The Rest of World segment provides bottled water, water filtration, and coffee services to customers in Europe and Israel.

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Analyst Recommendations for Primo Water (NYSE:PRMW)

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