Primo Water (NYSE:PRMW) PT Raised to $26.00 at CIBC

Primo Water (NYSE:PRMW) had its price objective increased by CIBC from $24.00 to $26.00 in a report issued on Tuesday, Benzinga reports. They currently have an outperformer rating on the stock.

Several other research firms have also issued reports on PRMW. StockNews.com upgraded Primo Water from a hold rating to a buy rating in a research note on Friday, May 17th. Royal Bank of Canada reissued an outperform rating and set a $30.00 price target on shares of Primo Water in a research note on Tuesday. Raymond James lowered Primo Water from a strong-buy rating to an outperform rating and set a $21.00 price objective for the company. in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. upped their price objective on shares of Primo Water from $24.00 to $26.00 and gave the company an overweight rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Primo Water from $17.00 to $20.00 and gave the stock a hold rating in a report on Friday, May 10th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $25.83.

Primo Water Price Performance

NYSE PRMW opened at $22.15 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 2.02. The firm has a market cap of $3.54 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 1.62 and a beta of 1.09. The stock’s 50-day moving average is $21.02 and its two-hundred day moving average is $17.64. Primo Water has a fifty-two week low of $12.27 and a fifty-two week high of $25.60.

Primo Water (NYSE:PRMW) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.05. The company had revenue of $452.00 million for the quarter, compared to analyst estimates of $438.81 million. Primo Water had a net margin of 12.22% and a return on equity of 9.36%. On average, analysts anticipate that Primo Water will post 0.89 earnings per share for the current fiscal year.

Primo Water Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Friday, June 7th were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.63%. Primo Water’s payout ratio is presently 22.36%.

Institutional Investors Weigh In On Primo Water

A number of large investors have recently bought and sold shares of PRMW. Cedar Wealth Management LLC bought a new position in Primo Water during the 1st quarter worth $27,000. Signaturefd LLC boosted its holdings in Primo Water by 358.1% during the fourth quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock worth $36,000 after purchasing an additional 1,848 shares during the last quarter. CWM LLC raised its stake in shares of Primo Water by 36.0% during the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock worth $43,000 after purchasing an additional 631 shares during the period. Crewe Advisors LLC bought a new position in shares of Primo Water during the 1st quarter valued at approximately $66,000. Finally, Aigen Investment Management LP purchased a new stake in Primo Water in the 3rd quarter worth about $139,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.

About Primo Water

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.