Primo Water Co. (NYSE:PRMW) Receives $25.83 Consensus PT from Brokerages

Primo Water Co. (NYSE:PRMW) has been given an average recommendation of “Moderate Buy” by the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $25.83.

A number of brokerages have recently weighed in on PRMW. Deutsche Bank Aktiengesellschaft increased their price objective on Primo Water from $17.00 to $20.00 and gave the company a “hold” rating in a report on Friday, May 10th. TD Securities lifted their price objective on shares of Primo Water from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a research note on Tuesday, June 18th. CIBC upped their price target on shares of Primo Water from $24.00 to $26.00 and gave the company an “outperformer” rating in a report on Tuesday, June 18th. Finally, StockNews.com raised Primo Water from a “hold” rating to a “buy” rating in a report on Tuesday, August 27th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Cedar Wealth Management LLC acquired a new stake in Primo Water during the 1st quarter worth $27,000. Signaturefd LLC boosted its holdings in shares of Primo Water by 358.1% during 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 last quarter. CWM LLC grew its position in shares of Primo Water by 36.0% in the first quarter. CWM LLC now owns 2,384 shares of the company’s stock valued at $43,000 after purchasing an additional 631 shares in the last quarter. Crewe Advisors LLC acquired a new stake in shares of Primo Water in the first quarter valued at approximately $66,000. Finally, Clearstead Trust LLC purchased a new position in Primo Water during the second quarter worth approximately $109,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

Primo Water Stock Performance

PRMW opened at $22.10 on Friday. The firm’s 50-day moving average price is $21.53 and its 200-day moving average price is $20.07. The company has a market cap of $3.54 billion, a P/E ratio of 13.73, a price-to-earnings-growth ratio of 1.62 and a beta of 1.10. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. Primo Water has a 52-week low of $12.92 and a 52-week high of $25.60.

Primo Water (NYSE:PRMW) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. Primo Water had a net margin of 12.61% and a return on equity of 8.94%. The business had revenue of $485.00 million during the quarter, compared to analysts’ expectations of $477.40 million. During the same quarter last year, the company posted $0.22 earnings per share. The business’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, equities analysts anticipate that Primo Water will post 0.88 EPS for the current fiscal year.

Primo Water Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 22nd will be paid a $0.09 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $0.36 dividend on an annualized basis and a yield of 1.63%. Primo Water’s dividend payout ratio is currently 22.36%.

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.