Primo Water Co. (NASDAQ:PRMW) – Stock analysts at Barrington Research decreased their Q1 2019 EPS estimates for Primo Water in a research report issued to clients and investors on Wednesday, November 7th. Barrington Research analyst M. Petusky now expects that the company will earn $0.04 per share for the quarter, down from their previous forecast of $0.07. Barrington Research currently has a “Buy” rating and a $20.00 target price on the stock. Barrington Research also issued estimates for Primo Water’s Q3 2019 earnings at $0.21 EPS.
PRMW has been the topic of a number of other research reports. Zacks Investment Research downgraded shares of Primo Water from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 10th. ValuEngine downgraded shares of Primo Water from a “buy” rating to a “hold” rating in a research report on Wednesday. BidaskClub upgraded shares of Primo Water from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. B. Riley dropped their target price on shares of Primo Water from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, BMO Capital Markets dropped their target price on shares of Primo Water from $18.00 to $17.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 24th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $19.50.
Primo Water stock opened at $14.63 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.88 and a current ratio of 1.06. Primo Water has a 12-month low of $11.16 and a 12-month high of $20.72. The firm has a market cap of $541.68 million, a P/E ratio of 57.48, a P/E/G ratio of 3.15 and a beta of 0.61.
Primo Water (NASDAQ:PRMW) last released its earnings results on Tuesday, November 6th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.18. Primo Water had a negative net margin of 17.88% and a positive return on equity of 10.19%. The company had revenue of $81.80 million for the quarter, compared to the consensus estimate of $83.26 million. During the same quarter in the previous year, the company earned $0.15 EPS. Primo Water’s quarterly revenue was down .5% compared to the same quarter last year.
In other Primo Water news, Director Charles A. Norris sold 25,000 shares of the business’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $20.41, for a total transaction of $510,250.00. Following the completion of the sale, the director now owns 167,556 shares in the company, valued at approximately $3,419,817.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles A. Norris sold 148,678 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $20.18, for a total transaction of $3,000,322.04. Following the sale, the director now owns 4,282 shares of the company’s stock, valued at approximately $86,410.76. The disclosure for this sale can be found here. Insiders have sold a total of 243,509 shares of company stock valued at $4,895,288 in the last 90 days. 13.50% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. Rhumbline Advisers increased its stake in Primo Water by 15.9% during the 2nd quarter. Rhumbline Advisers now owns 26,460 shares of the company’s stock valued at $463,000 after purchasing an additional 3,626 shares in the last quarter. Cornerstone Wealth Management LLC bought a new stake in Primo Water during the 2nd quarter valued at $208,000. American International Group Inc. increased its stake in Primo Water by 23.0% during the 3rd quarter. American International Group Inc. now owns 21,752 shares of the company’s stock valued at $393,000 after purchasing an additional 4,066 shares in the last quarter. Eagle Asset Management Inc. increased its stake in Primo Water by 1.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 362,221 shares of the company’s stock valued at $6,538,000 after purchasing an additional 4,919 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its stake in Primo Water by 3.2% during the 1st quarter. Allianz Asset Management GmbH now owns 247,576 shares of the company’s stock valued at $2,899,000 after purchasing an additional 7,649 shares in the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.
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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