Primo Water (NASDAQ:PRMW) Upgraded to Hold by ValuEngine

ValuEngine upgraded shares of Primo Water (NASDAQ:PRMW) from a sell rating to a hold rating in a report published on Thursday, June 6th, ValuEngine reports.

Several other equities research analysts have also recently weighed in on PRMW. Zacks Investment Research cut shares of Primo Water from a hold rating to a sell rating in a research report on Saturday, March 9th. B. Riley raised their price objective on shares of Primo Water from $19.00 to $21.00 and gave the company a buy rating in a research note on Wednesday, March 6th. Imperial Capital reaffirmed an outperform rating and issued a $20.00 price objective on shares of Primo Water in a research note on Friday, March 8th. BMO Capital Markets raised their price objective on shares of Primo Water from $17.00 to $18.00 and gave the company an outperform rating in a research note on Wednesday, March 6th. Finally, BidaskClub raised shares of Primo Water from a hold rating to a buy rating in a research note on Thursday, March 7th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $19.33.

NASDAQ PRMW traded up $0.57 during trading on Thursday, reaching $12.87. The company’s stock had a trading volume of 302,700 shares, compared to its average volume of 291,265. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.99 and a quick ratio of 0.70. The stock has a market cap of $491.25 million, a price-to-earnings ratio of 37.85, a price-to-earnings-growth ratio of 2.85 and a beta of 0.71. Primo Water has a 12 month low of $10.70 and a 12 month high of $20.72. The company has a 50 day moving average of $11.99.

Primo Water (NASDAQ:PRMW) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.01). Primo Water had a positive return on equity of 11.15% and a negative net margin of 19.21%. The firm had revenue of $70.05 million for the quarter, compared to the consensus estimate of $70.00 million. As a group, research analysts anticipate that Primo Water will post 0.36 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. increased its holdings in Primo Water by 4.0% during the 4th quarter. Victory Capital Management Inc. now owns 22,337 shares of the company’s stock worth $313,000 after purchasing an additional 869 shares during the period. Legal & General Group Plc increased its holdings in shares of Primo Water by 19.0% in the 4th quarter. Legal & General Group Plc now owns 5,849 shares of the company’s stock valued at $82,000 after acquiring an additional 932 shares during the last quarter. Eagle Asset Management Inc. increased its holdings in shares of Primo Water by 0.3% in the 4th quarter. Eagle Asset Management Inc. now owns 363,160 shares of the company’s stock valued at $5,087,000 after acquiring an additional 939 shares during the last quarter. Timpani Capital Management LLC increased its holdings in shares of Primo Water by 2.7% in the 4th quarter. Timpani Capital Management LLC now owns 57,403 shares of the company’s stock valued at $804,000 after acquiring an additional 1,486 shares during the last quarter. Finally, Redmond Asset Management LLC increased its holdings in shares of Primo Water by 3.1% in the 1st quarter. Redmond Asset Management LLC now owns 51,419 shares of the company’s stock valued at $795,000 after acquiring an additional 1,560 shares during the last quarter. 85.02% of the stock is currently owned by institutional investors and hedge funds.

About Primo Water

Primo Water Corporation, together with its subsidiaries, provides multi-gallon purified bottled water, self-service refill water, and water dispensers in the United States and Canada. It operates in three segments: Refill, Exchange, and Dispensers. The Refill segment sells filtered drinking water dispensed directly to consumers through self-service machines.

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Analyst Recommendations for Primo Water (NASDAQ:PRMW)

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