Equities research analysts expect Primo Water Co. (NASDAQ:PRMW) to post sales of $69.61 million for the current quarter, according to Zacks. Three analysts have issued estimates for Primo Water’s earnings, with estimates ranging from $68.41 million to $70.53 million. Primo Water reported sales of $40.36 million in the same quarter last year, which indicates a positive year over year growth rate of 72.5%. The business is expected to announce its next earnings results after the market closes on Tuesday, March 6th.
On average, analysts expect that Primo Water will report full year sales of $69.61 million for the current year, with estimates ranging from $286.17 million to $288.29 million. For the next year, analysts forecast that the business will post sales of $302.51 million per share, with estimates ranging from $300.21 million to $304.72 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Primo Water.
Several research firms recently issued reports on PRMW. BidaskClub cut Primo Water from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Zacks Investment Research upgraded Primo Water from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Friday, November 10th. ValuEngine cut Primo Water from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Barrington Research lifted their price objective on Primo Water from $17.00 to $19.00 and gave the stock an “outperform” rating in a report on Wednesday, November 8th. Finally, B. Riley reiterated a “buy” rating and issued a $17.50 price objective on shares of Primo Water in a report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $17.10.
Primo Water (NASDAQ PRMW) traded up $0.29 during mid-day trading on Monday, reaching $12.72. The company had a trading volume of 121,957 shares, compared to its average volume of 198,709. The company has a current ratio of 0.99, a quick ratio of 0.82 and a debt-to-equity ratio of 3.99. Primo Water has a 12 month low of $10.47 and a 12 month high of $15.29. The firm has a market cap of $381.86, a PE ratio of -18.43, a price-to-earnings-growth ratio of 4.02 and a beta of -0.32.
In other news, insider Camden Partners Strategic Fund sold 58,383 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $12.35, for a total transaction of $721,030.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark Castaneda sold 6,200 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $13.45, for a total value of $83,390.00. Following the transaction, the chief financial officer now owns 236,113 shares in the company, valued at $3,175,719.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 130,295 shares of company stock worth $1,636,440. Insiders own 15.80% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Caption Management LLC acquired a new position in shares of Primo Water during the 4th quarter worth approximately $101,000. MetLife Investment Advisors LLC acquired a new position in shares of Primo Water during the 4th quarter worth approximately $138,000. Driehaus Capital Management LLC acquired a new position in shares of Primo Water during the 4th quarter worth approximately $166,000. Nationwide Fund Advisors boosted its holdings in shares of Primo Water by 17.1% during the 2nd quarter. Nationwide Fund Advisors now owns 14,328 shares of the company’s stock worth $182,000 after purchasing an additional 2,097 shares during the last quarter. Finally, Voya Investment Management LLC boosted its holdings in shares of Primo Water by 16.5% during the 2nd quarter. Voya Investment Management LLC now owns 14,347 shares of the company’s stock worth $182,000 after purchasing an additional 2,028 shares during the last quarter. Institutional investors and hedge funds own 68.56% of the company’s stock.
About Primo Water
Primo Water Corporation (Primo) provides multi-gallon purified bottled water, self-service refill water and water dispensers. The Company’s products are sold through various retailers in the United States and Canada. It operates through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).
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