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

Stock analysts at StockNews.com assumed coverage on shares of Primo Water (NYSE:PRMW) in a report released on Monday. The firm set a “buy” rating on the stock.

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

Primo Water Price Performance

Primo Water stock opened at $24.21 on Monday. The firm’s 50-day moving average is $25.46 and its two-hundred day moving average is $23.31. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. The stock has a market capitalization of $3.88 billion, a P/E ratio of 15.04, a P/E/G ratio of 1.78 and a beta of 1.10. Primo Water has a 12-month low of $14.06 and a 12-month high of $28.06.

Hedge Funds Weigh In On Primo Water

A number of large investors have recently modified their holdings of PRMW. Tidal Investments LLC increased its position in Primo Water by 9.5% during the 3rd quarter. Tidal Investments LLC now owns 85,353 shares of the company’s stock worth $2,155,000 after purchasing an additional 7,373 shares in the last quarter. Toronto Dominion Bank lifted its position in Primo Water by 17.4% during the third quarter. Toronto Dominion Bank now owns 87,429 shares of the company’s stock valued at $2,208,000 after buying an additional 12,963 shares in the last quarter. Barclays PLC grew its stake in Primo Water by 215.0% during the third quarter. Barclays PLC now owns 244,054 shares of the company’s stock worth $6,162,000 after buying an additional 166,579 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Primo Water in the third quarter worth $453,000. Finally, XTX Topco Ltd purchased a new position in shares of Primo Water in the 3rd quarter valued at $377,000. 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.