Analysts Set Primo Water Co. (NYSE:PRMW) Target Price at $25.83

by · The Cerbat Gem

Primo Water Co. (NYSE:PRMW – Get Free Report) has received an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $25.83.

PRMW has been the subject of several research reports. TD Securities boosted their price objective on shares of Primo Water from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. CIBC lifted their target price on shares of Primo Water from $24.00 to $26.00 and gave the stock an “outperformer” rating in a research report on Tuesday, June 18th. Royal Bank of Canada reissued an “outperform” rating and set a $30.00 price target on shares of Primo Water in a report on Tuesday. JPMorgan Chase & Co. lifted their price objective on Primo Water from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Finally, StockNews.com upgraded Primo Water from a “hold” rating to a “buy” rating in a research report on Monday.

Get Our Latest Report on PRMW

Hedge Funds Weigh In On Primo Water

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

Primo Water Price Performance

Shares of NYSE PRMW opened at $24.94 on Wednesday. The company has a 50 day moving average of $22.85 and a 200 day moving average of $21.26. 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 twelve month low of $12.92 and a twelve month high of $25.67. The firm has a market cap of $4.01 billion, a P/E ratio of 15.49, a PEG ratio of 1.87 and a beta of 1.10.

Primo Water (NYSE:PRMW – Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. The firm had revenue of $485.00 million for the quarter, compared to the consensus estimate of $477.40 million. During the same period in the prior year, the company posted $0.22 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, research analysts expect that Primo Water will post 0.88 EPS for the current fiscal year.

Primo Water Announces Dividend

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 $0.09 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $0.36 annualized dividend and a dividend yield of 1.44%. Primo Water’s dividend payout ratio (DPR) is 22.36%.

Primo Water Company Profile

(Get Free Report

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.

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