Zacks Investment Research upgraded shares of Primo Water (NASDAQ:PRMW) from a sell rating to a hold rating in a report published on Saturday morning.

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. “

Other equities analysts have also recently issued reports about the stock. BMO Capital Markets upped their price target on shares of Primo Water from $16.00 to $18.00 and gave the stock a market perform rating in a research note on Wednesday, August 8th. BidaskClub raised shares of Primo Water from a hold rating to a buy rating in a research note on Thursday, August 16th. Barrington Research upped their price target on shares of Primo Water from $20.00 to $21.00 and gave the stock an outperform rating in a research note on Wednesday, August 8th. B. Riley lowered their price target on shares of Primo Water from $22.00 to $19.00 and set a buy rating on the stock in a research note on Wednesday, November 7th. Finally, Imperial Capital initiated coverage on shares of Primo Water in a research note on Friday, November 16th. They set an outperform rating and a $18.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $19.20.

NASDAQ:PRMW opened at $14.27 on Friday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.73 and a current ratio of 0.94. Primo Water has a fifty-two week low of $11.16 and a fifty-two week high of $20.72. The firm has a market cap of $575.72 million, a PE ratio of -50.96, a P/E/G ratio of 3.89 and a beta of 0.61.

Primo Water (NASDAQ:PRMW) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $0.18 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.18. Primo Water had a negative net margin of 17.88% and a positive return on equity of 10.31%. The business had revenue of $81.80 million for the quarter, compared to analysts’ expectations of $83.26 million. During the same period in the prior year, the company posted $0.15 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. As a group, equities research analysts expect that Primo Water will post 0.32 earnings per share for the current fiscal year.

In related news, Director Charles A. Norris sold 148,678 shares of the business’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $20.18, for a total value of $3,000,322.04. Following the sale, the director now directly owns 4,282 shares in the company, valued at approximately $86,410.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Charles A. Norris sold 43,454 shares of the business’s stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $19.74, for a total transaction of $857,781.96. Following the completion of the sale, the director now owns 4,282 shares in the company, valued at $84,526.68. The disclosure for this sale can be found here. Insiders sold a total of 217,132 shares of company stock worth $4,358,104 over the last quarter. Insiders own 13.50% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in PRMW. Martingale Asset Management L P purchased a new stake in shares of Primo Water in the 2nd quarter worth about $186,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Primo Water in the 2nd quarter worth about $198,000. Bank of Montreal Can boosted its position in shares of Primo Water by 5,864.6% in the 2nd quarter. Bank of Montreal Can now owns 11,452 shares of the company’s stock worth $200,000 after buying an additional 11,260 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new position in Primo Water in the 2nd quarter valued at about $208,000. Finally, Paloma Partners Management Co purchased a new position in Primo Water in the 2nd quarter valued at about $214,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Primo Water Company Profile

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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Analyst Recommendations for Primo Water (NASDAQ:PRMW)

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