Shares of Primo Water Co. (NASDAQ:PRMW) have been given an average rating of “Hold” by the seven brokerages that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $18.83.
Several research analysts recently weighed in on PRMW shares. BidaskClub downgraded Primo Water from a “hold” rating to a “sell” rating in a research note on Thursday, December 14th. Zacks Investment Research downgraded Primo Water from a “buy” rating to a “hold” rating in a research note on Saturday, November 11th. Barrington Research boosted their target price on Primo Water from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 8th. B. Riley restated a “buy” rating and set a $17.50 target price on shares of Primo Water in a research note on Wednesday, November 8th. Finally, ValuEngine downgraded Primo Water from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd.
Shares of Primo Water (NASDAQ:PRMW) traded up $0.02 during mid-day trading on Friday, reaching $12.27. The company had a trading volume of 97,623 shares, compared to its average volume of 197,081. Primo Water has a 1 year low of $10.47 and a 1 year high of $15.29. The company has a current ratio of 0.99, a quick ratio of 0.82 and a debt-to-equity ratio of 3.99. The stock has a market cap of $368.28, a P/E ratio of -17.78, a price-to-earnings-growth ratio of 3.87 and a beta of -0.32.
In other Primo Water news, CFO Mark Castaneda sold 6,200 shares of Primo Water stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $13.45, for a total transaction of $83,390.00. Following the completion of the sale, the chief financial officer now owns 236,113 shares of the company’s stock, valued at approximately $3,175,719.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Camden Partners Strategic Fund sold 58,383 shares of Primo Water stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $12.35, for a total value of $721,030.05. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 130,295 shares of company stock valued at $1,636,440. 15.80% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp lifted its position in Primo Water by 11.6% during the 2nd quarter. State Street Corp now owns 386,038 shares of the company’s stock worth $4,906,000 after acquiring an additional 40,107 shares during the period. Redmond Asset Management LLC acquired a new position in shares of Primo Water in the 3rd quarter valued at about $586,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Primo Water by 42.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 49,200 shares of the company’s stock valued at $625,000 after buying an additional 14,600 shares during the period. Northern Trust Corp lifted its holdings in shares of Primo Water by 16.0% in the 2nd quarter. Northern Trust Corp now owns 301,353 shares of the company’s stock valued at $3,827,000 after buying an additional 41,573 shares during the period. Finally, Argent Capital Management LLC lifted its holdings 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 valued at $1,911,000 after buying an additional 32,875 shares during the period. 68.44% of the stock is owned by institutional investors.
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About Primo Water
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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