Primo Water (NASDAQ:PRMW) was downgraded by Barrington Research from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. Barrington Research also issued estimates for Primo Water’s FY2024 earnings at $0.80 EPS.
Other equities research analysts have also issued research reports about the company. Northland Securities lowered Primo Water from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $16.00 to $14.00 in a research report on Monday. BidaskClub lowered Primo Water from a “buy” rating to a “hold” rating in a research report on Friday, January 3rd. Lake Street Capital lowered Primo Water from a “buy” rating to a “hold” rating and cut their target price for the company from $18.00 to $14.00 in a research report on Wednesday, November 6th. Zacks Investment Research upgraded Primo Water from a “sell” rating to a “hold” rating in a research report on Wednesday, January 8th. Finally, Imperial Capital restated an “outperform” rating and set a $14.00 target price (down previously from $15.00) on shares of Primo Water in a research report on Wednesday, December 4th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $14.17.
Shares of NASDAQ PRMW traded up $0.13 during trading hours on Tuesday, reaching $14.56. The stock had a trading volume of 523,060 shares, compared to its average volume of 1,102,389. The business’s fifty day moving average is $11.04 and its two-hundred day moving average is $12.01. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.92 and a quick ratio of 0.70. The company has a market cap of $566.04 million, a price-to-earnings ratio of 42.82, a PEG ratio of 4.67 and a beta of 0.72. Primo Water has a twelve month low of $9.54 and a twelve month high of $16.35.
Primo Water (NASDAQ:PRMW) last released its earnings results on Tuesday, November 5th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.07). Primo Water had a net margin of 1.29% and a return on equity of 7.11%. The company had revenue of $86.97 million during the quarter, compared to analyst estimates of $84.78 million. Sell-side analysts forecast that Primo Water will post 0.12 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in PRMW. Tower Research Capital LLC TRC raised its position in Primo Water by 176.6% in the third quarter. Tower Research Capital LLC TRC now owns 2,091 shares of the company’s stock worth $25,000 after acquiring an additional 1,335 shares in the last quarter. Boston Partners bought a new position in Primo Water in the second quarter valued at approximately $28,000. Usca Ria LLC bought a new position in shares of Primo Water during the 3rd quarter worth approximately $31,000. Bank of Montreal Can boosted its stake in shares of Primo Water by 26,645.5% during the 2nd quarter. Bank of Montreal Can now owns 2,942 shares of the company’s stock worth $36,000 after acquiring an additional 2,931 shares during the period. Finally, FNY Investment Advisers LLC bought a new position in shares of Primo Water during the 3rd quarter worth approximately $122,000. Institutional investors and hedge funds own 85.68% 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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