Primo Water (NYSE:PRMW) Downgraded by StockNews.com

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

A number of other equities analysts have also weighed in on PRMW. TD Securities lifted their price target 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. Raymond James lowered shares of Primo Water from an outperform rating to a market perform rating in a report on Wednesday, October 2nd. CIBC lifted their price target on shares of Primo Water from $24.00 to $26.00 and gave the company an outperformer rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. lifted their target price on shares of Primo Water from $24.00 to $26.00 and gave the company an overweight rating in a report on Tuesday, June 18th. Finally, Royal Bank of Canada restated an outperform rating and set a $30.00 target price on shares of Primo Water in a report on Tuesday, October 1st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $25.83.

Primo Water Stock Up 1.4 %

PRMW stock opened at $26.62 on Friday. The stock has a market capitalization of $4.28 billion, a P/E ratio of 16.53, a PEG ratio of 1.89 and a beta of 1.11. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. Primo Water has a one year low of $12.92 and a one year high of $26.86. The company has a 50 day moving average price of $23.62 and a two-hundred day moving average price of $21.78.

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

Primo Water Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were issued a $0.09 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $0.36 dividend on an annualized basis and a yield of 1.35%. Primo Water’s dividend payout ratio is currently 22.36%.

Hedge Funds Weigh In On Primo Water

A number of institutional investors have recently added to or reduced their stakes in PRMW. Cedar Wealth Management LLC acquired a new position in Primo Water in the 1st quarter worth $27,000. GAMMA Investing LLC lifted its holdings in Primo Water by 375.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock worth $31,000 after buying an additional 981 shares in the last quarter. CWM LLC lifted its holdings in 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 buying an additional 631 shares in the last quarter. Sound Income Strategies LLC acquired a new position in Primo Water in the 3rd quarter worth $48,000. Finally, Crewe Advisors LLC acquired a new position in Primo Water in the 1st quarter worth $66,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

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.