Primo Water (PRMW) Upgraded to “Buy” by ValuEngine

ValuEngine upgraded shares of Primo Water (NASDAQ:PRMW) from a hold rating to a buy rating in a research note issued to investors on Saturday.

Other research analysts have also recently issued research reports about the stock. BMO Capital Markets decreased their target price on shares of Primo Water from $18.00 to $17.00 and set a market perform rating for the company in a research report on Wednesday, October 24th. BidaskClub cut shares of Primo Water from a hold rating to a sell rating in a research report on Saturday, September 22nd. Zacks Investment Research cut shares of Primo Water from a buy rating to a hold rating in a research report on Saturday, August 18th. B. Riley decreased their target price on shares of Primo Water from $22.00 to $19.00 and set a buy rating for the company in a research report on Wednesday, November 7th. Finally, Barrington Research restated a buy rating and issued a $20.00 target price on shares of Primo Water in a research report on Wednesday, November 7th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $19.20.

NASDAQ PRMW opened at $15.13 on Friday. Primo Water has a 52 week low of $11.16 and a 52 week high of $20.72. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.94. The stock has a market capitalization of $583.03 million, a price-to-earnings ratio of 60.52, a PEG ratio of 3.94 and a beta of 0.49.

Primo Water (NASDAQ:PRMW) last posted its earnings results on Tuesday, November 6th. The company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. Primo Water had a negative net margin of 17.88% and a positive return on equity of 10.31%. The firm had revenue of $81.80 million during the quarter, compared to analysts’ expectations of $83.26 million. During the same quarter in the prior year, the firm earned $0.15 EPS. Primo Water’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities analysts expect that Primo Water will post 0.32 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. Federated Investors Inc. PA boosted its holdings in shares of Primo Water by 229.7% in the third quarter. Federated Investors Inc. PA now owns 1,375 shares of the company’s stock valued at $25,000 after acquiring an additional 958 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Primo Water by 15.9% in the second quarter. Rhumbline Advisers now owns 26,460 shares of the company’s stock valued at $463,000 after acquiring an additional 3,626 shares in the last quarter. American International Group Inc. boosted its holdings in shares of Primo Water by 23.0% in the third quarter. American International Group Inc. now owns 21,752 shares of the company’s stock valued at $393,000 after acquiring an additional 4,066 shares in the last quarter. B. Riley Financial Inc. boosted its holdings in shares of Primo Water by 19.3% in the third quarter. B. Riley Financial Inc. now owns 27,696 shares of the company’s stock valued at $500,000 after acquiring an additional 4,471 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its holdings in shares of Primo Water by 1.4% in the third quarter. Eagle Asset Management Inc. now owns 362,221 shares of the company’s stock valued at $6,538,000 after acquiring an additional 4,919 shares in the last quarter. Institutional investors and hedge funds own 75.84% of the company’s stock.

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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Analyst Recommendations for Primo Water (NASDAQ:PRMW)

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