Primo Water Co. (NYSE:PRMW – Get Free Report) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 4,450,000 shares, an increase of 27.9% from the September 30th total of 3,480,000 shares. Currently, 2.9% of the shares of the company are short sold. Based on an average daily trading volume, of 1,160,000 shares, the days-to-cover ratio is currently 3.8 days.
Primo Water Price Performance
Shares of NYSE:PRMW opened at $27.60 on Monday. The business’s 50 day simple moving average is $24.54 and its 200-day simple moving average is $22.32. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 1.89 and a beta of 1.11. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. Primo Water has a 12 month low of $12.92 and a 12 month high of $28.06.
Primo Water (NYSE:PRMW – Get Free Report) last announced its quarterly 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. The business had revenue of $485.00 million for the quarter, compared to analyst estimates of $477.40 million. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.22 EPS. As a group, equities analysts forecast that Primo Water will post 0.88 earnings per share for the current fiscal year.
Primo Water Dividend Announcement
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of PRMW. Cedar Wealth Management LLC acquired a new position in shares of Primo Water during the 1st quarter worth approximately $27,000. GAMMA Investing LLC raised its position in shares of Primo Water by 375.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock worth $31,000 after purchasing an additional 981 shares during the last quarter. Blue Trust Inc. raised its holdings in Primo Water by 52.1% in the 3rd quarter. Blue Trust Inc. now owns 1,871 shares of the company’s stock valued at $47,000 after acquiring an additional 641 shares during the last quarter. Sound Income Strategies LLC acquired a new position in Primo Water in the 3rd quarter valued at $48,000. Finally, Crewe Advisors LLC acquired a new position in Primo Water in the 1st quarter valued at $66,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
PRMW has been the topic of a number of analyst reports. William Blair initiated coverage on Primo Water in a report on Thursday. They issued an “outperform” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a report on Tuesday, October 1st. StockNews.com lowered Primo Water from a “buy” rating to a “hold” rating in a report on Sunday, October 13th. Finally, Raymond James lowered Primo Water from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Primo Water presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.
View Our Latest Stock Report on PRMW
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.
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