Primo Water Co. (NYSE:PRMW) Receives Average Rating of “Buy” from Brokerages

Shares of Primo Water Co. (NYSE:PRMW) have received an average rating of “Buy” from the four research firms that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have issued a report on the stock in the last year is $21.25.

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Primo Water from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday. TD Securities cut their price objective on shares of Primo Water from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, January 11th. Raymond James cut shares of Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price objective for the company. in a research report on Wednesday, April 3rd. Finally, StockNews.com cut shares of Primo Water from a “buy” rating to a “hold” rating in a research report on Friday.

Primo Water Trading Up 1.2 %

PRMW stock opened at $19.89 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.92 and a current ratio of 2.03. The company’s 50-day simple moving average is $17.78 and its 200 day simple moving average is $15.72. Primo Water has a 52 week low of $12.27 and a 52 week high of $19.93. The company has a market capitalization of $3.20 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 1.85 and a beta of 1.09.

Primo Water (NYSE:PRMW) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.10). Primo Water had a net margin of 10.82% and a return on equity of 8.55%. The business had revenue of $438.70 million during the quarter, compared to analyst estimates of $582.93 million. As a group, sell-side analysts anticipate that Primo Water will post 0.82 earnings per share for the current year.

Primo Water Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were issued a $0.09 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.81%. This is a boost from Primo Water’s previous quarterly dividend of $0.08. Primo Water’s dividend payout ratio is 24.16%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PRMW. Signaturefd LLC lifted its holdings in shares of Primo Water by 358.1% in the fourth quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock worth $36,000 after acquiring an additional 1,848 shares during the last quarter. CWM LLC raised its holdings in Primo Water by 36.0% in the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock valued at $43,000 after buying an additional 631 shares during the last quarter. Nomura Asset Management Co. Ltd. bought a new position in Primo Water in the 3rd quarter valued at approximately $102,000. Aigen Investment Management LP bought a new position in Primo Water in the 3rd quarter valued at approximately $139,000. Finally, Blueshift Asset Management LLC bought a new position in Primo Water in the 3rd quarter valued at approximately $159,000. Institutional investors own 87.71% of the company’s stock.

About Primo Water

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.