Primo Water Co. (NYSE:PRMW – Get Free Report) traded down 4% during mid-day trading on Thursday . The stock traded as low as $20.16 and last traded at $20.93. 132,569 shares traded hands during trading, a decline of 89% from the average session volume of 1,199,697 shares. The stock had previously closed at $21.80.
Analyst Upgrades and Downgrades
Several research analysts recently commented on PRMW shares. CIBC lifted their target price on shares of Primo Water from $24.00 to $26.00 and gave the stock an “outperformer” rating in a report on Tuesday, June 18th. StockNews.com raised Primo Water from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. JPMorgan Chase & Co. raised their target price on Primo Water from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $30.00 price target on shares of Primo Water in a report on Tuesday, June 18th. Finally, TD Securities increased their price objective on Primo Water from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $25.83.
Primo Water Price Performance
The company’s fifty day simple moving average is $21.76 and its 200-day simple moving average is $19.13. The stock has a market cap of $3.44 billion, a P/E ratio of 13.54, a price-to-earnings-growth ratio of 1.62 and a beta of 1.10. The company has a current ratio of 2.13, a quick ratio of 2.02 and a debt-to-equity ratio of 0.87.
Primo Water (NYSE:PRMW – Get Free Report) 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 firm had revenue of $452.00 million during 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%. As a group, sell-side analysts forecast that Primo Water Co. will post 0.88 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the stock. HBK Sorce Advisory LLC acquired a new position in Primo Water in the second quarter valued at about $217,000. American Century Companies Inc. boosted its holdings in shares of Primo Water by 16.5% in the 2nd quarter. American Century Companies Inc. now owns 17,695 shares of the company’s stock worth $387,000 after acquiring an additional 2,500 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Primo Water in the 2nd quarter worth approximately $151,000. Hiddenite Capital Partners LP bought a new stake in Primo Water during the 2nd quarter worth approximately $2,186,000. Finally, Levin Capital Strategies L.P. increased its holdings in Primo Water by 164.8% during the 2nd quarter. Levin Capital Strategies L.P. now owns 537,804 shares of the company’s stock valued at $11,756,000 after purchasing an additional 334,685 shares in the last quarter. 87.71% of the stock is currently owned by institutional investors and hedge funds.
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.