Primo Water (NYSE:PRMW) Sets New 12-Month High – Time to Buy?

Primo Water Co. (NYSE:PRMW)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $27.81 and last traded at $27.58, with a volume of 17467 shares. The stock had previously closed at $27.67.

Wall Street Analyst Weigh In

Several brokerages recently commented on PRMW. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Primo Water in a research note on Tuesday, October 1st. StockNews.com cut shares of Primo Water from a “buy” rating to a “hold” rating in a research report on Sunday, October 13th. Finally, Raymond James downgraded shares of Primo Water from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.83.

Primo Water Price Performance

The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. The firm’s 50-day moving average is $24.08 and its 200-day moving average is $22.04. The company has a market cap of $4.49 billion, a PE ratio of 17.35, a PEG ratio of 1.89 and a beta of 1.11.

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

Primo Water Announces Dividend

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

Institutional Trading of Primo Water

A number of institutional investors and hedge funds have recently bought and sold shares of PRMW. Cedar Wealth Management LLC purchased a new position in Primo Water in the 1st quarter worth about $27,000. GAMMA Investing LLC raised its holdings in shares of Primo Water by 375.9% during the third quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock valued at $31,000 after purchasing an additional 981 shares during the last quarter. CWM LLC lifted its position in Primo Water by 36.0% during the first quarter. CWM LLC now owns 2,384 shares of the company’s stock valued at $43,000 after purchasing an additional 631 shares during the period. Blue Trust Inc. boosted its holdings in Primo Water by 52.1% in the third quarter. Blue Trust Inc. now owns 1,871 shares of the company’s stock worth $47,000 after purchasing an additional 641 shares during the last quarter. Finally, Sound Income Strategies LLC bought a new stake in Primo Water in the 3rd quarter worth approximately $48,000. 87.71% of the stock is currently owned by institutional investors.

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.