StockNews.com Initiates Coverage on Primo Water (NYSE:PRMW)

StockNews.com initiated coverage on shares of Primo Water (NYSE:PRMW) in a report released on Tuesday. The firm set a “buy” rating on the stock.

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

Primo Water Stock Performance

PRMW stock opened at $24.21 on Tuesday. Primo Water has a one year low of $14.06 and a one year high of $28.06. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.78 and a beta of 1.10. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. The firm has a 50-day simple moving average of $25.50 and a two-hundred day simple moving average of $23.26.

Institutional Investors Weigh In On Primo Water

A number of large investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Primo Water by 375.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock valued at $31,000 after acquiring an additional 981 shares during the period. Blue Trust Inc. raised its holdings 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 during the last quarter. Sound Income Strategies LLC acquired a new position in Primo Water during the third quarter valued at $48,000. CWM LLC boosted its holdings in Primo Water by 31.5% in the third quarter. CWM LLC now owns 3,310 shares of the company’s stock valued at $84,000 after purchasing an additional 792 shares during the last quarter. Finally, Clearstead Trust LLC acquired a new stake in Primo Water during the 2nd quarter worth about $109,000. Hedge funds and other institutional investors own 87.71% of the company’s stock.

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.