Analysts’ Recent Ratings Updates for Primo Water (PRMW)

A number of research firms have changed their ratings and price targets for Primo Water (NYSE: PRMW):

• 10/2/2024 – Primo Water was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating.
• 10/1/2024 – Primo Water had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $30.00 price target on the stock.
• 9/30/2024 – Primo Water was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 9/24/2024 – Primo Water was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 9/18/2024 – Primo Water was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 8/27/2024 – Primo Water was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 8/20/2024 – Primo Water was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

Primo Water Stock Performance

PRMW stock traded down $0.18 during midday trading on Wednesday, reaching $24.76. 802,751 shares of the company were exchanged, compared to its average volume of 1,205,849. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 1.87 and a beta of 1.10. The business has a 50-day moving average price of $22.92 and a two-hundred day moving average price of $21.29. Primo Water Co. has a one year low of $12.92 and a one year high of $25.67. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07.

Primo Water (NYSE:PRMW) last posted its earnings results on Thursday, August 8th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. The company had revenue of $485.00 million for the quarter, compared to the consensus estimate of $477.40 million. During the same quarter in the prior year, the business earned $0.22 earnings per share. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities research analysts forecast that Primo Water Co. will post 0.88 EPS for the current year.

Primo Water Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were given a $0.09 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.45%. Primo Water’s payout ratio is 22.36%.

Institutional Trading of Primo Water

Institutional investors have recently modified their holdings of the stock. Tocqueville Asset Management L.P. boosted its position in shares of Primo Water by 108.7% during the 1st quarter. Tocqueville Asset Management L.P. now owns 96,000 shares of the company’s stock worth $1,748,000 after acquiring an additional 50,000 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Primo Water by 170.4% in the 1st quarter. Jane Street Group LLC now owns 619,811 shares of the company’s stock valued at $11,287,000 after purchasing an additional 390,611 shares during the last quarter. Strategic Wealth Partners Ltd. acquired a new position in shares of Primo Water during the 1st quarter worth $879,000. Goldman Sachs Group Inc. lifted its position in shares of Primo Water by 32.2% during the 4th 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 during the last quarter. Finally, Tidal Investments LLC lifted its position in shares of Primo Water by 471.2% during the 1st quarter. Tidal Investments LLC now owns 66,149 shares of the company’s stock worth $1,205,000 after buying an additional 54,569 shares during the last quarter. 87.71% of the stock is currently owned by institutional investors.

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.