Primo Water Corp. (PRMW) Shares Up 2.1%
Primo Water Corp. (NASDAQ:PRMW) shares shot up 2.1% on Tuesday . The company traded as high as $12.26 and last traded at $12.23, with a volume of 228,970 shares changing hands. The stock had previously closed at $11.98.
A number of brokerages have weighed in on PRMW. B. Riley reaffirmed a “buy” rating and set a $13.00 price target on shares of Primo Water Corp. in a research report on Monday, May 9th. Zacks Investment Research raised shares of Primo Water Corp. from a “hold” rating to a “strong-buy” rating and set a $14.00 target price on the stock in a research report on Tuesday, August 9th. Finally, Barrington Research boosted their target price on shares of Primo Water Corp. from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 4th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $12.50.
The company has a 50-day moving average price of $11.65 and a 200-day moving average price of $10.61. The stock has a market cap of $318.61 million and a price-to-earnings ratio of 75.56.
Primo Water Corp. (NASDAQ:PRMW) last issued its earnings results on Tuesday, August 2nd. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. The business earned $34.40 million during the quarter, compared to analyst estimates of $33.86 million. Primo Water Corp.’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 EPS. Equities analysts anticipate that Primo Water Corp. will post $0.24 EPS for the current year.
In other news, insider Camden Partners Strategic Fund sold 27,929 shares of the company’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $10.46, for a total value of $292,137.34. The sale was disclosed in a filing with the SEC, which is accessible through this link.
An institutional investor recently raised its position in Primo Water Corp. stock. Dimensional Fund Advisors LP raised its position in shares of Primo Water Corp. (NASDAQ:PRMW) by 490.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 151,811 shares of the company’s stock after buying an additional 126,093 shares during the period. Dimensional Fund Advisors LP owned approximately 0.59% of Primo Water Corp. worth $1,214,000 at the end of the most recent quarter.
Primo Water Corporation is a provider of multi-gallon purified bottled water, self-service refill water and water dispensers. The Company’s products are sold through various retailers in the United States and Canada. The Company conducts its operations through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).
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