Primo Water (NASDAQ:PRMW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Prime Water Corporation operates as a provider of three- and five-gallon purified bottled water and water dispensers sold through major retailers nationwide. The Company’s water bottles can be sanitized and reused, crushed and recycled. Also, it provides water bottle exchange solution for its retail customers. It operates through two segments, Primo Bottled Water Exchange and Primo Products. Prime Water Corporation is headquartered in Winston-Salem, North Carolina. “
Other equities analysts also recently issued reports about the company. Barrington Research reaffirmed a “buy” rating and issued a $20.00 price target on shares of Primo Water in a report on Friday, April 6th. BidaskClub downgraded Primo Water from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. ValuEngine raised Primo Water from a “sell” rating to a “hold” rating in a report on Friday, March 2nd. Finally, B. Riley set a $18.00 price target on Primo Water and gave the company a “buy” rating in a report on Monday, March 5th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Primo Water currently has a consensus rating of “Hold” and a consensus price target of $17.33.
Shares of PRMW opened at $12.19 on Tuesday. The company has a debt-to-equity ratio of 3.77, a current ratio of 1.04 and a quick ratio of 0.84. The company has a market capitalization of $380.24, a P/E ratio of -43.54, a price-to-earnings-growth ratio of 3.61 and a beta of -0.13. Primo Water has a 52-week low of $10.47 and a 52-week high of $13.86.
Primo Water (NASDAQ:PRMW) last announced its quarterly earnings results on Tuesday, March 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.04). The business had revenue of $68.31 million during the quarter, compared to analyst estimates of $69.61 million. Primo Water had a negative net margin of 2.22% and a negative return on equity of 15.66%. sell-side analysts predict that Primo Water will post 0.28 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. Caption Management LLC acquired a new stake in shares of Primo Water in the fourth quarter valued at approximately $101,000. MetLife Investment Advisors LLC acquired a new stake in shares of Primo Water in the fourth quarter valued at approximately $138,000. Driehaus Capital Management LLC acquired a new stake in shares of Primo Water in the fourth quarter valued at approximately $166,000. Goldman Sachs Group Inc. acquired a new stake in shares of Primo Water in the fourth quarter valued at approximately $387,000. Finally, Kings Point Capital Management boosted its holdings in shares of Primo Water by 28.6% in the fourth quarter. Kings Point Capital Management now owns 51,300 shares of the company’s stock valued at $645,000 after acquiring an additional 11,400 shares during the period. 69.87% of the stock is owned by institutional investors and hedge funds.
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Primo Water Company Profile
Primo Water Corporation, together with its subsidiaries, provides multi-gallon purified bottled water, self-service refill water, and water dispensers in the United States and Canada. It operates in three segments: Refill, Exchange, and Dispensers. The Refill segment sells filtered drinking water dispensed directly to consumers through self-service machines.
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