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

StockNews.com lowered shares of Primo Water (NYSE:PRMW) from a buy rating to a hold rating in a research report released on Saturday.

PRMW has been the topic of a number of other reports. TD Securities dropped their target price on shares of Primo Water from $26.00 to $23.00 and set a buy rating on the stock in a research report on Thursday, January 11th. JPMorgan Chase & Co. increased their target price on shares of Primo Water from $18.00 to $19.00 and gave the company an overweight rating in a research report on Tuesday, February 20th. Finally, Raymond James cut shares of Primo Water from a strong-buy rating to an outperform rating and set a $21.00 price target for the company. in a research note on Wednesday, April 3rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $20.75.

Primo Water Trading Up 0.5 %

NYSE PRMW opened at $18.95 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.03 and a quick ratio of 1.92. The firm’s fifty day moving average price is $17.38 and its 200 day moving average price is $15.53. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 1.78 and a beta of 1.12. Primo Water has a 12 month low of $12.27 and a 12 month high of $19.01.

Primo Water (NYSE:PRMW) last posted its earnings results on Thursday, February 22nd. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.10). The company had revenue of $438.70 million during the quarter, compared to analysts’ expectations of $582.93 million. Primo Water had a net margin of 10.82% and a return on equity of 8.55%. On average, sell-side analysts expect that Primo Water will post 0.82 earnings per share for the current fiscal year.

Primo Water Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were paid a dividend of $0.09 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.36 dividend on an annualized basis and a yield of 1.90%. This is a boost from Primo Water’s previous quarterly dividend of $0.08. Primo Water’s dividend payout ratio is currently 24.16%.

Institutional Trading of Primo Water

Large investors have recently bought and sold shares of the business. Signaturefd LLC boosted its stake in Primo Water by 358.1% during the 4th quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock worth $36,000 after purchasing an additional 1,848 shares during the period. CWM LLC lifted its stake in shares of Primo Water by 36.0% in the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock worth $43,000 after acquiring an additional 631 shares during the period. Nomura Asset Management Co. Ltd. acquired a new stake in shares of Primo Water in the 3rd quarter worth $102,000. Aigen Investment Management LP acquired a new stake in shares of Primo Water in the 3rd quarter worth $139,000. Finally, Blueshift Asset Management LLC acquired a new stake in shares of Primo Water in the 3rd quarter worth $159,000. Institutional investors and hedge funds 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.