Primo Water Co. (NYSE:PRMW) Receives $22.50 Consensus PT from Analysts

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

Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Primo Water from $17.00 to $20.00 and gave the company a “hold” rating in a report on Friday, May 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $30.00 target price on shares of Primo Water in a research note on Tuesday, June 18th. TD Securities lifted their target price on Primo Water from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. StockNews.com upgraded Primo Water from a “hold” rating to a “buy” rating in a research note on Friday, May 17th. Finally, JPMorgan Chase & Co. lifted their target price on Primo Water from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th.

Institutional Investors Weigh In On Primo Water

Institutional investors and hedge funds have recently modified their holdings of the company. Cedar Wealth Management LLC acquired a new position in Primo Water in the first quarter valued at approximately $27,000. Signaturefd LLC lifted its holdings in Primo Water by 358.1% in the fourth quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock valued at $36,000 after acquiring an additional 1,848 shares during the period. CWM LLC lifted its holdings in 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 Primo Water in the first quarter valued at approximately $66,000. Finally, Aigen Investment Management LP acquired a new position in Primo Water in the third quarter valued at approximately $139,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

Primo Water Stock Up 0.7 %

NYSE:PRMW opened at $22.15 on Monday. Primo Water has a twelve month low of $12.27 and a twelve month high of $25.60. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 1.60 and a beta of 1.09. The stock has a fifty day simple moving average of $21.02 and a 200-day simple moving average of $17.66. The company has a current ratio of 2.13, a quick ratio of 2.02 and a debt-to-equity ratio of 0.87.

Primo Water (NYSE:PRMW) last released its earnings results on Thursday, May 9th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.05. The business had revenue of $452.00 million during the quarter, compared to the consensus estimate of $438.81 million. Primo Water had a return on equity of 9.36% and a net margin of 12.22%. Analysts anticipate that Primo Water will post 0.89 EPS for the current year.

Primo Water Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Friday, June 7th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date was Friday, June 7th. Primo Water’s dividend payout ratio (DPR) is 22.36%.

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.