Primo Water Co. (NYSE:PRMW) Receives Average Rating of “Moderate Buy” from Brokerages

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

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Primo Water from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. TD Securities increased their price target 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. StockNews.com cut shares of Primo Water from a “buy” rating to a “hold” rating in a research report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $30.00 target price on shares of Primo Water in a research report on Tuesday, June 18th. Finally, CIBC raised their price target on Primo Water from $24.00 to $26.00 and gave the company an “outperformer” rating in a research report on Tuesday, June 18th.

Primo Water Stock Performance

NYSE PRMW opened at $25.47 on Wednesday. The company’s 50 day simple moving average is $22.33 and its two-hundred day simple moving average is $20.93. The stock has a market capitalization of $4.10 billion, a PE ratio of 15.82, a P/E/G ratio of 1.73 and a beta of 1.10. 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 has a 1 year low of $12.92 and a 1 year high of $25.60.

Primo Water (NYSE:PRMW) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. The company had revenue of $485.00 million during the quarter, compared to analyst estimates of $477.40 million. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $0.22 earnings per share. Analysts predict that Primo Water will post 0.87 earnings per share for the current fiscal year.

Primo Water Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were paid a dividend of $0.09 per share. 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 1.41%. Primo Water’s dividend payout ratio (DPR) is currently 22.36%.

Institutional Investors Weigh In On Primo Water

Several institutional investors have recently bought and sold shares of PRMW. Cedar Wealth Management LLC bought a new stake in Primo Water in the first quarter valued at approximately $27,000. CWM LLC raised its holdings in Primo Water by 36.0% during the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock valued at $43,000 after buying an additional 631 shares during the last quarter. Crewe Advisors LLC purchased a new stake in Primo Water during the 1st quarter valued at $66,000. Clearstead Trust LLC bought a new stake in Primo Water in the 2nd quarter worth $109,000. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Primo Water in the second quarter valued at about $151,000. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

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.