Primo Water (NYSE:PRMW) Lowered to Hold at StockNews.com

by · The Markets Daily

StockNews.com downgraded shares of Primo Water (NYSE:PRMW – Free Report) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

Several other equities research analysts have also issued reports on the company. CIBC lifted their price objective on Primo Water from $24.00 to $26.00 and gave the company an outperformer rating in a research note on Tuesday, June 18th. Royal Bank of Canada reissued an outperform rating and set a $30.00 price objective on shares of Primo Water in a report on Tuesday, June 18th. TD Securities raised their target price on shares of Primo Water from $30.00 to $32.00 and gave the company a buy rating in a research note on Tuesday, June 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Primo Water from $24.00 to $26.00 and gave the stock an overweight rating in a research note on Tuesday, June 18th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $25.83.

Check Out Our Latest Analysis on PRMW

Primo Water Trading Down 0.2 %

Shares of PRMW opened at $25.25 on Wednesday. Primo Water has a twelve month low of $12.92 and a twelve month high of $25.60. The stock has a market cap of $4.06 billion, a PE ratio of 15.68, a P/E/G ratio of 1.73 and a beta of 1.10. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. The business’s 50-day moving average price is $22.24 and its 200-day moving average price is $20.80.

Primo Water (NYSE:PRMW – Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. Primo Water had a net margin of 12.61% and a return on equity of 8.94%. The business had revenue of $485.00 million for the quarter, compared to analyst estimates of $477.40 million. During the same quarter in the prior year, the firm posted $0.22 EPS. Primo Water’s revenue was up 7.7% on a year-over-year basis. On average, equities analysts forecast that Primo Water will post 0.87 EPS for the current fiscal year.

Primo Water Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.43%. The ex-dividend date was Thursday, August 22nd. Primo Water’s dividend payout ratio is currently 22.36%.

Institutional Inflows and Outflows

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

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.

Read More