JPMorgan Chase & Co. Increases Primo Water (NYSE:PRMW) Price Target to $26.00

Primo Water (NYSE:PRMW) had its target price boosted by stock analysts at JPMorgan Chase & Co. from $24.00 to $26.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 17.12% from the company’s current price.

A number of other equities analysts also recently issued reports on the company. 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. Raymond James downgraded Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price target on the stock. in a research report on Wednesday, April 3rd. StockNews.com upgraded Primo Water from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Primo Water from $17.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.83.

Primo Water Stock Down 2.6 %

Primo Water stock opened at $22.20 on Tuesday. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 1.66 and a beta of 1.09. Primo Water has a 52 week low of $12.27 and a 52 week high of $25.60. The business’s 50-day moving average price is $20.75 and its 200 day moving average price is $17.53. The company has a quick ratio of 2.02, a current ratio of 2.13 and a debt-to-equity ratio of 0.87.

Primo Water (NYSE:PRMW) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.05. The company had revenue of $452.00 million for the quarter, compared to the consensus estimate 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 anticipate that Primo Water will post 0.89 earnings per share for the current year.

Hedge Funds Weigh In On Primo Water

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Primo Water by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 12,159,661 shares of the company’s stock worth $183,003,000 after buying an additional 248,774 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Primo Water by 1.6% during the third quarter. Ameriprise Financial Inc. now owns 7,352,477 shares of the company’s stock worth $101,464,000 after buying an additional 116,453 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Primo Water by 32.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,850,165 shares of the company’s stock worth $57,945,000 after buying an additional 937,235 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Primo Water by 2.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,703,385 shares of the company’s stock worth $67,439,000 after buying an additional 100,702 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Primo Water by 13.0% during the fourth quarter. Wellington Management Group LLP now owns 2,713,866 shares of the company’s stock worth $40,844,000 after buying an additional 312,815 shares in the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.

About Primo Water

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.