Primo Water (NYSE:PRMW) Downgraded to Hold at StockNews.com

StockNews.com lowered shares of Primo Water (NYSE:PRMW) from a buy rating to a hold rating in a research report released on Sunday.

Several other research analysts also recently commented on the stock. Raymond James downgraded shares of Primo Water from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. CIBC boosted their price objective on Primo Water from $24.00 to $26.00 and gave the stock an “outperformer” rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. raised their target price on Primo Water from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. TD Securities lifted their price target on Primo Water from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a research report on Tuesday, October 1st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Primo Water presently has a consensus rating of “Moderate Buy” and an average price target of $25.83.

Primo Water Price Performance

NYSE PRMW opened at $26.93 on Friday. Primo Water has a fifty-two week low of $12.92 and a fifty-two week high of $27.30. The stock’s 50-day moving average is $23.72 and its two-hundred day moving average is $21.82. The firm has a market cap of $4.33 billion, a P/E ratio of 16.73, a price-to-earnings-growth ratio of 1.89 and a beta of 1.11. 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 (NYSE:PRMW) last posted its earnings results on Thursday, August 8th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. The firm had revenue of $485.00 million during the quarter, compared to analyst estimates of $477.40 million. During the same period in the previous year, the company earned $0.22 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, analysts anticipate that Primo Water will post 0.88 earnings per share for the current fiscal year.

Primo Water Dividend Announcement

The company also recently disclosed a — dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.82 per share. This represents a dividend yield of 1.3%. The ex-dividend date is Tuesday, November 5th. Primo Water’s dividend payout ratio is presently 22.36%.

Institutional Trading of Primo Water

Several institutional investors have recently made changes to their positions in PRMW. Cedar Wealth Management LLC bought a new position in shares of Primo Water during the first quarter valued at $27,000. GAMMA Investing LLC boosted its stake in Primo Water by 375.9% in the third quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock worth $31,000 after purchasing an additional 981 shares in the last quarter. CWM LLC grew its holdings in shares of Primo Water by 36.0% during the first quarter. CWM LLC now owns 2,384 shares of the company’s stock worth $43,000 after purchasing an additional 631 shares during the last quarter. Sound Income Strategies LLC acquired a new stake in shares of Primo Water in the third quarter valued at $48,000. Finally, Crewe Advisors LLC bought a new position in shares of Primo Water in the first quarter valued at about $66,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.

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.