Primo Water (NYSE:PRMW) PT Raised to $26.00

Primo Water (NYSE:PRMW) had its price target raised by CIBC from $24.00 to $26.00 in a research note published on Tuesday, Benzinga reports. CIBC currently has an outperformer rating on the stock.

Other research analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft raised their target price on Primo Water from $17.00 to $20.00 and gave the stock a hold rating in a research note on Friday, May 10th. StockNews.com upgraded Primo Water from a hold rating to a buy rating in a research report on Friday, May 17th. Royal Bank of Canada reiterated an outperform rating and set a $30.00 price target on shares of Primo Water in a research report on Tuesday. JPMorgan Chase & Co. lifted their price target on Primo Water from $24.00 to $26.00 and gave the company an overweight rating in a research report on Tuesday. Finally, Raymond James downgraded Primo Water from a strong-buy rating to an outperform rating and set a $21.00 price target for the company. in a research report on Wednesday, April 3rd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $25.83.

Primo Water Trading Down 2.7 %

Shares of PRMW opened at $22.17 on Tuesday. Primo Water has a fifty-two week low of $12.27 and a fifty-two week high of $25.60. 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 quick ratio of 2.02 and a current ratio of 2.13. The firm has a market cap of $3.55 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 1.63 and a beta of 1.09.

Primo Water (NYSE:PRMW) last issued its earnings results on Thursday, May 9th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.13 by $0.05. Primo Water had a return on equity of 9.36% and a net margin of 12.22%. The business had revenue of $452.00 million during the quarter, compared to the consensus estimate of $438.81 million. As a group, research analysts forecast that Primo Water will post 0.89 EPS for the current year.

Primo Water Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Friday, June 7th were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.36 dividend on an annualized basis and a yield of 1.62%. Primo Water’s payout ratio is 22.36%.

Institutional Trading of Primo Water

Hedge funds have recently bought and sold shares of the company. Cedar Wealth Management LLC purchased a new position in Primo Water in the 1st quarter worth approximately $27,000. Signaturefd LLC increased its stake in Primo Water by 358.1% in the 4th quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock worth $36,000 after purchasing an additional 1,848 shares during the period. CWM LLC increased its stake in Primo Water by 36.0% in the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock worth $43,000 after purchasing an additional 631 shares during the period. Crewe Advisors LLC purchased a new position in Primo Water in the 1st quarter worth approximately $66,000. Finally, Aigen Investment Management LP purchased a new position in Primo Water in the 3rd quarter worth approximately $139,000. Institutional investors own 87.71% of the company’s stock.

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.