Primo Water (NASDAQ:PRMW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Saturday.

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 topic of a number of other research reports. Barrington Research reissued a “buy” rating and set a $21.00 price target on shares of Primo Water in a research report on Wednesday, October 17th. B. Riley dropped their price target on Primo Water from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday. BidaskClub raised Primo Water from a “hold” rating to a “buy” rating in a research report on Thursday, August 16th. ValuEngine downgraded Primo Water from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, BMO Capital Markets dropped their price target on Primo Water from $18.00 to $17.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Primo Water presently has a consensus rating of “Hold” and a consensus price target of $19.50.

PRMW stock opened at $14.63 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.88 and a current ratio of 1.06. Primo Water has a twelve month low of $11.16 and a twelve month high of $20.72. The firm has a market capitalization of $541.68 million, a price-to-earnings ratio of -52.25, a price-to-earnings-growth ratio of 3.15 and a beta of 0.61.

Primo Water (NASDAQ:PRMW) last released its earnings results on Tuesday, November 6th. The company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. Primo Water had a positive return on equity of 10.19% and a negative net margin of 17.88%. The business had revenue of $81.80 million for the quarter, compared to analyst estimates of $83.26 million. During the same quarter last year, the firm posted $0.15 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. Sell-side analysts predict that Primo Water will post 0.38 earnings per share for the current fiscal year.

In related news, VP Michael Cauthen sold 1,377 shares of the firm’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $19.56, for a total transaction of $26,934.12. Following the sale, the vice president now owns 6,159 shares of the company’s stock, valued at $120,470.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles A. Norris sold 43,454 shares of the firm’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $19.74, for a total value of $857,781.96. Following the sale, the director now directly owns 4,282 shares in the company, valued at approximately $84,526.68. The disclosure for this sale can be found here. Insiders have sold a total of 243,509 shares of company stock worth $4,895,288 in the last three months. Corporate insiders own 13.50% of the company’s stock.

A number of hedge funds have recently modified their holdings of PRMW. Martingale Asset Management L P bought a new stake in Primo Water during the second quarter valued at about $186,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Primo Water during the second quarter valued at about $198,000. Bank of Montreal Can boosted its position in Primo Water by 5,864.6% during the second quarter. Bank of Montreal Can now owns 11,452 shares of the company’s stock valued at $200,000 after purchasing an additional 11,260 shares in the last quarter. Cornerstone Wealth Management LLC bought a new stake in Primo Water during the second quarter valued at about $208,000. Finally, Paloma Partners Management Co acquired a new stake in Primo Water in the second quarter worth about $214,000. 74.07% of the stock is currently owned by institutional investors.

About Primo Water

Primo Water Corporation, together with its subsidiaries, provides multi-gallon purified bottled water, self-service refill water, and water dispensers in the United States and Canada. It operates in three segments: Refill, Exchange, and Dispensers. The Refill segment sells filtered drinking water dispensed directly to consumers through self-service machines.

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