Northland Securities downgraded shares of Primo Water (NASDAQ:PRMW) from an outperform rating to a market perform rating in a research report sent to investors on Monday, The Fly reports. The brokerage currently has $14.00 target price on the stock, down from their prior target price of $16.00.
Several other equities research analysts have also commented on the stock. Barrington Research reaffirmed a buy rating and issued a $15.00 price target on shares of Primo Water in a report on Wednesday, November 6th. BidaskClub lowered shares of Primo Water from a buy rating to a hold rating in a report on Friday, January 3rd. William Blair lowered shares of Primo Water from an outperform rating to a market perform rating in a report on Monday. Imperial Capital reaffirmed an outperform rating and issued a $14.00 price target (down from $15.00) on shares of Primo Water in a report on Wednesday, December 4th. Finally, ValuEngine raised shares of Primo Water from a hold rating to a buy rating in a report on Tuesday, December 24th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $14.17.
NASDAQ:PRMW opened at $14.43 on Monday. Primo Water has a one year low of $9.54 and a one year high of $16.35. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.92. The firm has a market cap of $555.57 million, a price-to-earnings ratio of 42.43, a PEG ratio of 4.67 and a beta of 0.72. The firm’s fifty day moving average is $11.04 and its two-hundred day moving average is $12.01.
Primo Water (NASDAQ:PRMW) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.07). Primo Water had a net margin of 1.29% and a return on equity of 7.11%. The business had revenue of $86.97 million during the quarter, compared to analysts’ expectations of $84.78 million. As a group, equities research analysts predict that Primo Water will post 0.12 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. Millennium Management LLC purchased a new stake in shares of Primo Water during the 3rd quarter worth about $380,000. Barclays PLC boosted its stake in shares of Primo Water by 41.8% during the 3rd quarter. Barclays PLC now owns 39,195 shares of the company’s stock worth $481,000 after acquiring an additional 11,548 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Primo Water during the 3rd quarter worth about $544,000. First Trust Advisors LP boosted its stake in shares of Primo Water by 52.1% during the 3rd quarter. First Trust Advisors LP now owns 466,316 shares of the company’s stock worth $5,726,000 after acquiring an additional 159,825 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Primo Water by 228.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 428,050 shares of the company’s stock worth $5,257,000 after acquiring an additional 297,766 shares in the last quarter. 85.68% of the stock is currently owned by institutional investors and hedge funds.
About Primo Water
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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