Primo Water Co. (NYSE:PRMW) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Primo Water Co. (NYSE:PRMW) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $25.83.

A number of research analysts have weighed in on the stock. StockNews.com cut shares of Primo Water from a “buy” rating to a “hold” rating in a research report on Sunday, October 13th. Raymond James cut shares of Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $30.00 target price on shares of Primo Water in a research report on Tuesday, October 1st. Finally, William Blair assumed coverage on shares of Primo Water in a research report on Thursday. They set an “outperform” rating on the stock.

Institutional Trading of Primo Water

Several institutional investors have recently added to or reduced their stakes in PRMW. Wellington Management Group LLP raised its holdings in Primo Water by 13.0% in the fourth quarter. Wellington Management Group LLP now owns 2,713,866 shares of the company’s stock valued at $40,844,000 after acquiring an additional 312,815 shares in the last quarter. Vanguard Group Inc. raised its holdings in Primo Water by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 12,159,661 shares of the company’s stock valued at $183,003,000 after acquiring an additional 248,774 shares in the last quarter. CWM LLC raised its holdings in Primo Water by 36.0% in the first quarter. CWM LLC now owns 2,384 shares of the company’s stock valued at $43,000 after acquiring an additional 631 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Primo Water by 2.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,703,385 shares of the company’s stock valued at $67,439,000 after acquiring an additional 100,702 shares in the last quarter. Finally, Tobam raised its holdings in Primo Water by 4.4% in the first quarter. Tobam now owns 16,780 shares of the company’s stock valued at $306,000 after acquiring an additional 705 shares in the last quarter. 87.71% of the stock is owned by institutional investors and hedge funds.

Primo Water Trading Down 0.6 %

Shares of PRMW stock opened at $27.51 on Friday. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of 17.09, 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 fifty-two week low of $12.92 and a fifty-two week high of $28.06. The firm’s 50 day moving average price is $24.32 and its two-hundred day moving average price is $22.15.

Primo Water (NYSE:PRMW) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.26 earnings per share 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%. Primo Water’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 earnings per share. On average, analysts anticipate that Primo Water will post 0.88 EPS for the current year.

Primo Water Announces Dividend

The business 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 dividend payout ratio is presently 22.36%.

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.