Primo Water Corporation (NASDAQ:PRMW) has been assigned a consensus recommendation of “Hold” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $18.83.
A number of equities analysts have weighed in on the stock. B. Riley reissued a “buy” rating and issued a $17.50 price objective on shares of Primo Water in a research report on Sunday, August 13th. Zacks Investment Research cut shares of Primo Water from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Barrington Research upped their price objective on shares of Primo Water from $17.00 to $19.00 and gave the company an “outperform” rating in a research report on Wednesday, November 8th. Finally, ValuEngine cut shares of Primo Water from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st.
In other news, Director Malcolm Mcquilkin sold 11,082 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $11.86, for a total transaction of $131,432.52. Following the transaction, the director now owns 126,042 shares of the company’s stock, valued at $1,494,858.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 40,858 shares of company stock worth $479,169 in the last ninety days. Corporate insiders own 15.80% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Argent Capital Management LLC lifted its position in shares of Primo Water by 25.6% during the third quarter. Argent Capital Management LLC now owns 161,300 shares of the company’s stock worth $1,911,000 after purchasing an additional 32,875 shares during the last quarter. First Allied Advisory Services Inc. bought a new position in shares of Primo Water during the third quarter worth about $281,000. B. Riley Financial Inc. lifted its position in shares of Primo Water by 25.5% during the third quarter. B. Riley Financial Inc. now owns 105,920 shares of the company’s stock worth $1,234,000 after purchasing an additional 21,545 shares during the last quarter. Elk Creek Partners LLC lifted its position in shares of Primo Water by 22.8% during the third quarter. Elk Creek Partners LLC now owns 761,585 shares of the company’s stock worth $9,025,000 after purchasing an additional 141,586 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Primo Water by 14.4% during the third quarter. Wells Fargo & Company MN now owns 127,157 shares of the company’s stock worth $1,507,000 after purchasing an additional 16,006 shares during the last quarter. 69.29% of the stock is currently owned by institutional investors and hedge funds.
Primo Water (PRMW) opened at $12.80 on Friday. 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 12-month low of $10.47 and a 12-month high of $15.39.
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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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