Primo Water (NYSE:PRMW) Rating Lowered to Hold at StockNews.com

Primo Water (NYSE:PRMW) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

A number of other equities research analysts have also recently issued reports on PRMW. Royal Bank of Canada reaffirmed an “outperform” rating and set a $30.00 target price on shares of Primo Water in a research report on Tuesday, June 18th. JPMorgan Chase & Co. lifted their target price on shares of Primo Water from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. TD Securities raised their price target on Primo Water from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. CIBC boosted their price objective on Primo Water from $24.00 to $26.00 and gave the stock an “outperformer” rating in a research report on Tuesday, June 18th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Primo Water from $17.00 to $20.00 and gave the company a “hold” rating in a report on Friday, May 10th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

Primo Water Stock Up 0.1 %

Shares of Primo Water stock opened at $22.07 on Tuesday. The stock has a 50-day simple moving average of $21.57 and a 200-day simple moving average of $19.63. Primo Water has a 52-week low of $12.92 and a 52-week high of $25.60. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 13.71, a P/E/G ratio of 1.62 and a beta of 1.10. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 2.02.

Primo Water (NYSE:PRMW) last posted its earnings results on Thursday, August 8th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. Primo Water had a net margin of 12.22% and a return on equity of 9.36%. The company had revenue of $485.00 million during the quarter, compared to the consensus estimate of $477.40 million. During the same period in the previous year, the firm posted $0.22 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities research analysts expect that Primo Water will post 0.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Primo Water

Several institutional investors and hedge funds have recently made changes to their positions in PRMW. CWM LLC lifted its holdings in Primo Water by 36.0% during the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock valued at $43,000 after purchasing an additional 631 shares during the last quarter. Tobam boosted its holdings in shares of Primo Water by 4.4% in the 1st quarter. Tobam now owns 16,780 shares of the company’s stock worth $306,000 after acquiring an additional 705 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Primo Water by 3.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,744 shares of the company’s stock worth $781,000 after acquiring an additional 1,307 shares during the last quarter. Natixis Advisors L.P. grew its position in Primo Water by 6.2% during the 4th quarter. Natixis Advisors L.P. now owns 23,570 shares of the company’s stock worth $354,000 after acquiring an additional 1,368 shares during the last quarter. Finally, Creative Planning increased its holdings in Primo Water by 8.8% during the 2nd quarter. Creative Planning now owns 17,301 shares of the company’s stock valued at $378,000 after purchasing an additional 1,402 shares in the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

Primo Water Company Profile

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.