Primo Water Corporation (NASDAQ:PRMW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The firm currently has a $14.00 price target on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.20% from the stock’s previous close.

According to Zacks, “Prime Water Corporation operates as a provider of three- and five-gallon purified bottled water and water dispensers sold through major retailers nationwide. The Company’s water bottles can be sanitized and reused, crushed and recycled. Also, it provides water bottle exchange solution for its retail customers. It operates through two segments, Primo Bottled Water Exchange and Primo Products. Prime Water Corporation is headquartered in Winston-Salem, North Carolina. “

PRMW has been the subject of a number of other research reports. BidaskClub upgraded Primo Water Corporation from a “sell” rating to a “hold” rating in a report on Sunday, July 16th. B. Riley restated a “buy” rating and issued a $17.50 target price on shares of Primo Water Corporation in a report on Wednesday. ValuEngine lowered Primo Water Corporation from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Finally, Barrington Research increased their target price on Primo Water Corporation from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Primo Water Corporation presently has a consensus rating of “Hold” and a consensus price target of $17.10.

Shares of Primo Water Corporation (NASDAQ PRMW) traded up $0.04 during trading hours on Friday, hitting $12.59. The stock had a trading volume of 154,300 shares, compared to its average volume of 208,702. Primo Water Corporation has a one year low of $10.47 and a one year high of $15.39. The company has a debt-to-equity ratio of 3.99, a current ratio of 0.99 and a quick ratio of 0.64.

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In related news, insider Billy D. Prim sold 1,000,000 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $12.16, for a total transaction of $12,160,000.00. Following the completion of the sale, the insider now directly owns 1,980,927 shares in the company, valued at $24,088,072.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Malcolm Mcquilkin sold 16,062 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $11.66, for a total value of $187,282.92. Following the sale, the director now owns 105,345 shares of the company’s stock, valued at $1,228,322.70. The disclosure for this sale can be found here. Insiders sold 1,040,858 shares of company stock valued at $12,639,169 in the last 90 days. Corporate insiders own 15.80% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Wells Fargo & Company MN raised its holdings in shares of Primo Water Corporation by 14.4% during the third quarter. Wells Fargo & Company MN now owns 127,157 shares of the company’s stock worth $1,507,000 after acquiring an additional 16,006 shares in the last quarter. 1492 Capital Management LLC raised its holdings in shares of Primo Water Corporation by 43.0% during the third quarter. 1492 Capital Management LLC now owns 64,995 shares of the company’s stock worth $770,000 after acquiring an additional 19,542 shares in the last quarter. Eagle Asset Management Inc. raised its holdings in shares of Primo Water Corporation by 10.5% during the third quarter. Eagle Asset Management Inc. now owns 493,996 shares of the company’s stock worth $5,641,000 after acquiring an additional 46,804 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Primo Water Corporation by 5.3% during the third quarter. Russell Investments Group Ltd. now owns 343,444 shares of the company’s stock worth $4,070,000 after acquiring an additional 17,429 shares in the last quarter. Finally, Redmond Asset Management LLC purchased a new stake in shares of Primo Water Corporation during the third quarter worth $586,000. Institutional investors and hedge funds own 62.77% of the company’s stock.

Primo Water Corporation Company Profile

Primo Water Corporation (Primo) provides 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. It operates through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).

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