Primo Water (NYSE:PRMW) Cut to Hold at StockNews.com

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

A number of other equities research analysts have also recently weighed in on PRMW. TD Securities upped their price objective on shares of Primo Water from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. boosted their price target on Primo Water from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. CIBC raised their price objective on Primo Water from $24.00 to $26.00 and gave the company an “outperformer” rating in a research report on Tuesday, June 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $30.00 target price on shares of Primo Water in a report on Tuesday, June 18th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Primo Water presently has an average rating of “Moderate Buy” and an average price target of $25.83.

Primo Water Trading Up 0.5 %

NYSE PRMW opened at $25.41 on Tuesday. The firm has a market capitalization of $4.09 billion, a PE ratio of 15.78, a P/E/G ratio of 1.73 and a beta of 1.10. The stock’s 50 day moving average is $22.24 and its 200 day moving average is $20.86. Primo Water has a twelve month low of $12.92 and a twelve month high of $25.60. 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 (NYSE:PRMW) last announced its earnings results on Thursday, August 8th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The firm had revenue of $485.00 million for the quarter, compared to analysts’ expectations of $477.40 million. Primo Water had a net margin of 12.61% and a return on equity of 8.94%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.22 EPS. Research analysts forecast that Primo Water will post 0.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Tocqueville Asset Management L.P. raised its holdings in shares of Primo Water by 108.7% during the first quarter. Tocqueville Asset Management L.P. now owns 96,000 shares of the company’s stock valued at $1,748,000 after purchasing an additional 50,000 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Primo Water by 170.4% during the 1st quarter. Jane Street Group LLC now owns 619,811 shares of the company’s stock valued at $11,287,000 after buying an additional 390,611 shares during the period. Strategic Wealth Partners Ltd. purchased a new position in shares of Primo Water in the 1st quarter worth $879,000. Goldman Sachs Group Inc. grew its holdings in shares of Primo Water by 32.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,850,165 shares of the company’s stock worth $57,945,000 after acquiring an additional 937,235 shares during the period. Finally, Tidal Investments LLC increased its position in Primo Water by 471.2% during the first quarter. Tidal Investments LLC now owns 66,149 shares of the company’s stock valued at $1,205,000 after acquiring an additional 54,569 shares during the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.

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.