Primo Water Co. (NYSE:PRMW) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Primo Water Co. (NYSE:PRMW) has received a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $25.83.

Several analysts have recently weighed in on PRMW shares. StockNews.com raised shares of Primo Water from a “hold” rating to a “buy” rating in a report on Friday, May 17th. JPMorgan Chase & Co. lifted their target price on shares of Primo Water from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. CIBC lifted their target price on shares of Primo Water from $24.00 to $26.00 and gave the company an “outperformer” rating in a report on Tuesday, June 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Primo Water in a report on Tuesday, June 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Primo Water from $17.00 to $20.00 and gave the company a “hold” rating in a report on Friday, May 10th.

Primo Water Trading Down 0.2 %

NYSE PRMW opened at $21.50 on Tuesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.02 and a current ratio of 2.13. The firm has a market cap of $3.46 billion, a PE ratio of 13.35, a P/E/G ratio of 1.62 and a beta of 1.10. Primo Water has a one year low of $12.92 and a one year high of $25.60. The firm’s fifty day moving average is $21.70 and its two-hundred day moving average is $19.31.

Primo Water (NYSE:PRMW) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The company had revenue of $485.00 million for the quarter, compared to analyst estimates of $477.40 million. Primo Water had a net margin of 12.22% and a return on equity of 9.36%. Primo Water’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.22 earnings per share. Analysts expect that Primo Water will post 0.88 earnings per share for the current year.

Primo Water Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 22nd will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Thursday, August 22nd. Primo Water’s dividend payout ratio is currently 22.36%.

Institutional Trading of Primo Water

Institutional investors and hedge funds have recently modified their holdings of the business. Tocqueville Asset Management L.P. lifted its holdings in shares of Primo Water by 108.7% in the first quarter. Tocqueville Asset Management L.P. now owns 96,000 shares of the company’s stock valued at $1,748,000 after purchasing an additional 50,000 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Primo Water by 170.4% in the first quarter. Jane Street Group LLC now owns 619,811 shares of the company’s stock valued at $11,287,000 after purchasing an additional 390,611 shares in the last quarter. Strategic Wealth Partners Ltd. purchased a new stake in shares of Primo Water in the first quarter valued at about $879,000. Goldman Sachs Group Inc. lifted its holdings in shares of Primo Water by 32.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,850,165 shares of the company’s stock valued at $57,945,000 after purchasing an additional 937,235 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. purchased a new stake in shares of Primo Water in the fourth quarter valued at about $1,684,000. Hedge funds and other institutional investors own 87.71% of the company’s stock.

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.