StockNews.com Upgrades Primo Water (NYSE:PRMW) to Buy

Primo Water (NYSE:PRMW) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Several other equities research analysts also recently weighed in on PRMW. Raymond James downgraded shares of Primo Water from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $30.00 price target on shares of Primo Water in a report on Tuesday, October 1st. Finally, William Blair initiated coverage on shares of Primo Water in a report on Thursday, October 24th. They issued an “outperform” rating for the company. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Primo Water currently has a consensus rating of “Moderate Buy” and an average target price of $25.83.

Primo Water Price Performance

Shares of PRMW opened at $24.21 on Thursday. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10. Primo Water has a twelve month low of $14.06 and a twelve month high of $28.06. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. The company has a 50 day moving average of $25.47 and a two-hundred day moving average of $23.00.

Hedge Funds Weigh In On Primo Water

Institutional investors and hedge funds have recently bought and sold shares of the business. ProShare Advisors LLC boosted its holdings in Primo Water by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 28,137 shares of the company’s stock valued at $512,000 after purchasing an additional 2,215 shares during the last quarter. Tocqueville Asset Management L.P. raised its stake in shares of Primo Water by 108.7% in the 1st quarter. Tocqueville Asset Management L.P. now owns 96,000 shares of the company’s stock valued at $1,748,000 after acquiring an additional 50,000 shares during the period. Forge First Asset Management Inc. purchased a new stake in shares of Primo Water in the 1st quarter valued at approximately $6,792,000. Acadian Asset Management LLC raised its stake in shares of Primo Water by 153,637.0% in the 1st quarter. Acadian Asset Management LLC now owns 83,018 shares of the company’s stock valued at $1,509,000 after acquiring an additional 82,964 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its stake in Primo Water by 1.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 148,209 shares of the company’s stock worth $2,699,000 after buying an additional 2,794 shares during the period. 87.71% of the stock is currently owned by institutional investors and hedge funds.

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.