Barrington Research Reiterates “Buy” Rating for Primo Water (PRMW)

Barrington Research restated their buy rating on shares of Primo Water (NASDAQ:PRMW) in a research report report published on Friday morning. They currently have a $20.00 price target on the stock.

“We are currently expecting first quarter revenue of $67.1 million. Our estimate, if achieved, would represent 10.5% growth versus the same period last year. Our top-line estimate includes $58.2 million in water-related sales (both exchange and refill) versus the $53.1 million generated in last year’s comparable period and $9.0 million in dispenser sales versus the $7.6 million delivered in Q1/17.”,” the firm’s analyst commented.

Several other equities research analysts also recently weighed in on the stock. ValuEngine downgraded shares of Primo Water from a hold rating to a sell rating in a research report on Friday, February 2nd. Zacks Investment Research downgraded shares of Primo Water from a hold rating to a sell rating in a research report on Friday, March 9th. B. Riley set a $18.00 target price on shares of Primo Water and gave the stock a buy rating in a research report on Monday, March 5th. Finally, BidaskClub downgraded shares of Primo Water from a hold rating to a sell rating in a research report on Wednesday, January 31st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $17.33.

Shares of PRMW traded up $0.01 during midday trading on Friday, hitting $12.20. The company had a trading volume of 100,643 shares, compared to its average volume of 180,012. The company has a market capitalization of $377.45, a P/E ratio of -43.57, a PEG ratio of 4.69 and a beta of -0.13. Primo Water has a 52 week low of $10.47 and a 52 week high of $13.86. The company has a debt-to-equity ratio of 3.77, a quick ratio of 0.84 and a current ratio of 1.04.

Several large investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. grew its position in shares of Primo Water by 8.1% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 53,205 shares of the company’s stock valued at $669,000 after buying an additional 4,005 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Primo Water by 5.6% during the 4th quarter. Bank of New York Mellon Corp now owns 110,997 shares of the company’s stock valued at $1,395,000 after buying an additional 5,857 shares during the last quarter. 1492 Capital Management LLC grew its position in shares of Primo Water by 10.0% during the 4th quarter. 1492 Capital Management LLC now owns 71,479 shares of the company’s stock valued at $898,000 after buying an additional 6,484 shares during the last quarter. Caption Management LLC bought a new stake in shares of Primo Water during the 4th quarter valued at about $101,000. Finally, Wells Fargo & Company MN grew its position in shares of Primo Water by 7.0% during the 4th quarter. Wells Fargo & Company MN now owns 136,037 shares of the company’s stock valued at $1,710,000 after buying an additional 8,880 shares during the last quarter. 70.12% of the stock is owned by institutional investors and hedge funds.

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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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