Brokerages Set Primo Water Co. (NYSE:PRMW) PT at $25.83

Primo Water Co. (NYSE:PRMW) has earned an average rating of “Moderate Buy” from the five research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $25.83.

A number of equities analysts recently weighed in on PRMW shares. Royal Bank of Canada restated an “outperform” rating and set a $30.00 target price on shares of Primo Water in a report on Tuesday, June 18th. CIBC lifted their price objective on shares of Primo Water from $24.00 to $26.00 and gave the company an “outperformer” rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. upped their target price on shares of Primo Water from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. StockNews.com upgraded Primo Water from a “hold” rating to a “buy” rating in a report on Monday. Finally, TD Securities upped their price objective on Primo Water from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th.

Primo Water Trading Up 3.0 %

Shares of NYSE:PRMW opened at $24.98 on Wednesday. The stock has a market capitalization of $4.02 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 1.87 and a beta of 1.10. The company’s 50-day moving average price is $22.68 and its two-hundred day moving average price is $21.15. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. Primo Water has a one year low of $12.92 and a one year high of $25.60.

Primo Water (NYSE:PRMW) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. The firm had revenue of $485.00 million during the quarter, compared to analysts’ expectations of $477.40 million. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 earnings per share. On average, equities analysts forecast that Primo Water will post 0.88 EPS for the current fiscal year.

Primo Water Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Thursday, August 22nd. Primo Water’s payout ratio is 22.36%.

Institutional Trading of Primo Water

Several hedge funds have recently added to or reduced their stakes in the company. Cedar Wealth Management LLC acquired a new position in Primo Water in the 1st quarter valued at $27,000. CWM LLC boosted its position in shares of Primo Water by 36.0% in the first quarter. CWM LLC now owns 2,384 shares of the company’s stock valued at $43,000 after acquiring an additional 631 shares during the period. Crewe Advisors LLC acquired a new position in shares of Primo Water in the first quarter valued at about $66,000. Clearstead Trust LLC bought a new position in Primo Water during the second quarter worth about $109,000. Finally, Daiwa Securities Group Inc. acquired a new stake in Primo Water in the 2nd quarter worth about $151,000. 87.71% of the stock is owned by institutional investors and hedge funds.

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.