Primo Water (NYSE:PRMW) Price Target Raised to $32.00 at TD Securities

Primo Water (NYSE:PRMW) had its price target raised by TD Securities from $30.00 to $32.00 in a research note published on Tuesday, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on the stock. Royal Bank of Canada reiterated an outperform rating and issued a $30.00 target price on shares of Primo Water in a research note on Tuesday. StockNews.com upgraded shares of Primo Water from a hold rating to a buy rating in a research note on Friday, May 17th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Primo Water from $17.00 to $20.00 and gave the company a hold rating in a research note on Friday, May 10th. JPMorgan Chase & Co. raised their target price on shares of Primo Water from $24.00 to $26.00 and gave the company an overweight rating in a research note on Tuesday. Finally, CIBC raised their target price on shares of Primo Water from $24.00 to $26.00 and gave the company an outperformer rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $25.83.

Primo Water Price Performance

Shares of NYSE PRMW opened at $22.17 on Tuesday. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 1.63 and a beta of 1.09. The business has a 50-day moving average of $20.75 and a 200-day moving average of $17.53. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 2.02. Primo Water has a fifty-two week low of $12.27 and a fifty-two week high of $25.60.

Primo Water (NYSE:PRMW) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.05. The company had revenue of $452.00 million during the quarter, compared to analysts’ expectations of $438.81 million. Primo Water had a return on equity of 9.36% and a net margin of 12.22%. As a group, sell-side analysts predict that Primo Water will post 0.89 earnings per share for the current fiscal year.

Primo Water Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Friday, June 7th were given a dividend of $0.09 per share. The ex-dividend date was Friday, June 7th. This represents a $0.36 annualized dividend and a yield of 1.62%. Primo Water’s dividend payout ratio (DPR) is presently 22.36%.

Institutional Investors Weigh In On Primo Water

Hedge funds have recently bought and sold shares of the stock. Strategic Wealth Partners Ltd. acquired a new stake in shares of Primo Water in the first quarter valued at approximately $879,000. Tidal Investments LLC raised its position in shares of Primo Water by 471.2% in the first quarter. Tidal Investments LLC now owns 66,149 shares of the company’s stock valued at $1,205,000 after buying an additional 54,569 shares in the last quarter. Jane Street Group LLC raised its position in shares of Primo Water by 170.4% in the first quarter. Jane Street Group LLC now owns 619,811 shares of the company’s stock valued at $11,287,000 after buying an additional 390,611 shares in the last quarter. Levin Capital Strategies L.P. raised its position in shares of Primo Water by 3.1% in the first quarter. Levin Capital Strategies L.P. now owns 203,119 shares of the company’s stock valued at $3,699,000 after buying an additional 6,159 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in shares of Primo Water in the first quarter valued at approximately $235,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Primo Water Company Profile

Primo Water Corporation provides pure-play water solutions for residential and commercial customers. It offers bottled water, water dispensers, purified bottled water, self-service refill drinking water, premium spring, mineral water, sparkling and flavored essence water, filtration units, and coffee.