Primo Water (NASDAQ:PRMW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Prime Water Corporation operates as a provider of three- and five-gallon purified bottled water and water dispensers sold through major retailers nationwide. The Company’s water bottles can be sanitized and reused, crushed and recycled. Also, it provides water bottle exchange solution for its retail customers. It operates through two segments, Primo Bottled Water Exchange and Primo Products. Prime Water Corporation is headquartered in Winston-Salem, North Carolina. “
Several other equities research analysts have also recently commented on PRMW. BidaskClub cut Primo Water from a “hold” rating to a “sell” rating in a research note on Friday, April 13th. Barrington Research restated a “buy” rating and set a $20.00 price target on shares of Primo Water in a research note on Friday, April 6th. ValuEngine upgraded Primo Water from a “sell” rating to a “hold” rating in a research note on Friday, March 2nd. Finally, B. Riley set a $18.00 price target on Primo Water and gave the stock a “buy” rating in a research note on Monday, March 5th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $17.33.
PRMW stock opened at $12.19 on Tuesday. The company has a market capitalization of $380.24, a PE ratio of -43.54, a PEG ratio of 3.61 and a beta of -0.13. Primo Water has a twelve month low of $10.47 and a twelve month high of $13.86. The company has a debt-to-equity ratio of 3.77, a current ratio of 1.04 and a quick ratio of 0.84.
Primo Water (NASDAQ:PRMW) last released its quarterly earnings results on Tuesday, March 6th. The company reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.04). Primo Water had a negative return on equity of 15.66% and a negative net margin of 2.22%. The company had revenue of $68.31 million for the quarter, compared to analysts’ expectations of $69.61 million. sell-side analysts predict that Primo Water will post 0.28 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in PRMW. Caption Management LLC purchased a new stake in shares of Primo Water during the fourth quarter worth approximately $101,000. MetLife Investment Advisors LLC purchased a new stake in shares of Primo Water during the fourth quarter worth approximately $138,000. Driehaus Capital Management LLC purchased a new stake in shares of Primo Water during the fourth quarter worth approximately $166,000. Goldman Sachs Group Inc. purchased a new position in Primo Water in the fourth quarter worth $387,000. Finally, Kings Point Capital Management raised its position in Primo Water by 28.6% in the fourth quarter. Kings Point Capital Management now owns 51,300 shares of the company’s stock worth $645,000 after acquiring an additional 11,400 shares in the last quarter. Institutional investors and hedge funds own 69.87% of the company’s stock.
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Primo Water Company Profile
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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