Primo Water Co. (NYSE:PRMW) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Primo Water Co. (NYSE:PRMW) have earned an average recommendation of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $25.83.

PRMW has been the subject of a number of research analyst reports. William Blair began coverage on Primo Water in a report on Thursday. They issued an “outperform” rating for the company. StockNews.com downgraded shares of Primo Water from a “buy” rating to a “hold” rating in a research note on Sunday, October 13th. Royal Bank of Canada reissued an “outperform” rating and set a $30.00 price target on shares of Primo Water in a research note on Tuesday, October 1st. Finally, Raymond James cut shares of Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd.

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. Cedar Wealth Management LLC acquired a new position in shares of Primo Water during the 1st quarter worth about $27,000. GAMMA Investing LLC increased its stake in Primo Water by 375.9% in the third quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock valued at $31,000 after purchasing an additional 981 shares in the last quarter. CWM LLC raised its holdings in Primo Water by 36.0% in the first quarter. CWM LLC now owns 2,384 shares of the company’s stock worth $43,000 after purchasing an additional 631 shares during the period. Blue Trust Inc. boosted its position in shares of Primo Water by 52.1% during 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 in the last quarter. Finally, Sound Income Strategies LLC acquired a new position in shares of Primo Water in the 3rd quarter valued at $48,000. Institutional investors own 87.71% of the company’s stock.

Primo Water Trading Up 0.3 %

Shares of Primo Water stock opened at $27.60 on Friday. The stock has a market capitalization of $4.44 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 1.89 and a beta of 1.11. Primo Water has a 12-month low of $12.92 and a 12-month high of $28.06. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. The company has a 50-day simple moving average of $24.54 and a 200 day simple moving average of $22.29.

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

Primo Water Announces Dividend

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 of this dividend is Tuesday, November 5th. This represents a dividend yield of 1.3%. Primo Water’s dividend payout ratio is currently 22.36%.

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.