William Blair Begins Coverage on Primo Water (NYSE:PRMW)

William Blair assumed coverage on shares of Primo Water (NYSE:PRMW) in a research note released on Thursday, Marketbeat.com reports. The firm issued an outperform rating on the stock.

A number of other research firms have also issued reports on PRMW. StockNews.com lowered shares of Primo Water from a “buy” rating to a “hold” rating in a research report on Sunday, October 13th. Raymond James downgraded shares of Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $30.00 price target on shares of Primo Water in a research report on Tuesday, October 1st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Primo Water currently has an average rating of “Moderate Buy” and an average price target of $25.83.

Primo Water Stock Performance

PRMW opened at $27.60 on Thursday. The firm’s 50-day moving average price is $24.54 and its 200-day moving average price is $22.32. The company has a market cap of $4.44 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 1.89 and a beta of 1.11. 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 $28.06.

Primo Water (NYSE:PRMW) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $477.40 million. During the same quarter in the previous year, the firm posted $0.22 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. As a group, equities analysts anticipate that Primo Water will post 0.88 EPS for the current fiscal year.

Primo Water Announces Dividend

The firm also recently declared a — dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a $0.82 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a yield of 1.3%. Primo Water’s payout ratio is 22.36%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its holdings in Primo Water by 375.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock worth $31,000 after acquiring an additional 981 shares in the last quarter. Cedar Wealth Management LLC acquired a new stake in shares of Primo Water in the first quarter valued at about $27,000. Blue Trust Inc. increased its stake in shares of Primo Water by 52.1% during the third quarter. Blue Trust Inc. now owns 1,871 shares of the company’s stock worth $47,000 after purchasing an additional 641 shares in the last quarter. Sound Income Strategies LLC acquired a new position in shares of Primo Water during the 3rd quarter worth about $48,000. Finally, CWM LLC lifted its stake in Primo Water by 31.5% in the 3rd quarter. CWM LLC now owns 3,310 shares of the company’s stock valued at $84,000 after buying an additional 792 shares in the last quarter. 87.71% of the stock is owned by institutional investors and hedge funds.

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.