Primo Water Co. (NYSE:PRMW) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Primo Water Co. (NYSE:PRMW) has earned an average recommendation of “Moderate Buy” from the five research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $25.83.

A number of brokerages have issued reports on PRMW. TD Securities increased their price target on Primo Water from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. CIBC increased their price target on Primo Water from $24.00 to $26.00 and gave the stock an “outperformer” rating in a research note on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft increased their price target on Primo Water from $17.00 to $20.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. JPMorgan Chase & Co. raised their price objective on Primo Water from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $30.00 price objective on shares of Primo Water in a research report on Tuesday, June 18th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. MQS Management LLC bought a new position in shares of Primo Water in the 2nd quarter valued at about $300,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Primo Water by 27.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 23,977 shares of the company’s stock valued at $524,000 after acquiring an additional 5,151 shares during the last quarter. Clearstead Trust LLC bought a new position in shares of Primo Water in the 2nd quarter valued at about $109,000. Renaissance Technologies LLC lifted its holdings in shares of Primo Water by 3.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,595,042 shares of the company’s stock valued at $34,868,000 after acquiring an additional 49,500 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Primo Water by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,362,600 shares of the company’s stock valued at $29,788,000 after acquiring an additional 53,241 shares during the last quarter. Institutional investors own 87.71% of the company’s stock.

Primo Water Trading Down 0.2 %

NYSE:PRMW opened at $21.50 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 2.02. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 13.35, a price-to-earnings-growth ratio of 1.62 and a beta of 1.10. Primo Water has a one year low of $12.92 and a one year high of $25.60. The business has a fifty day moving average price of $21.70 and a 200-day moving average price of $19.31.

Primo Water (NYSE:PRMW) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. Primo Water had a return on equity of 9.36% and a net margin of 12.22%. The business had revenue of $485.00 million during the quarter, compared to analyst estimates of $477.40 million. During the same quarter in the prior year, the business posted $0.22 EPS. Primo Water’s revenue for the quarter was up 7.7% compared to the same quarter last year. Sell-side analysts forecast that Primo Water will post 0.88 EPS for the current year.

Primo Water Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 22nd will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Thursday, August 22nd. Primo Water’s payout ratio is 22.36%.

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.