Primo Water (NYSE:PRMW) Sees Unusually-High Trading Volume – What’s Next?

Primo Water Co. (NYSE:PRMW) saw strong trading volume on Friday . 4,064,007 shares traded hands during mid-day trading, an increase of 216% from the previous session’s volume of 1,286,914 shares.The stock last traded at $24.70 and had previously closed at $24.44.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Raymond James downgraded Primo Water from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. StockNews.com upgraded Primo Water from a “hold” rating to a “buy” rating in a research note on Friday. William Blair started coverage on Primo Water in a research note on Thursday, October 24th. They issued an “outperform” rating on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $30.00 price target on shares of Primo Water in a research report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $25.83.

Primo Water Stock Down 0.9 %

The business has a fifty day simple moving average of $25.32 and a 200 day simple moving average of $22.84. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 1.87 and a beta of 1.10. 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 announced its earnings results on Thursday, August 8th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. The business had revenue of $485.00 million during the quarter, compared to analysts’ expectations of $477.40 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. As a group, equities analysts forecast that Primo Water Co. will post 0.88 EPS for the current fiscal year.

Primo Water Announces Dividend

The business also recently declared a — dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a $0.82 dividend. The ex-dividend date is Tuesday, November 5th. This represents a dividend yield of 1.3%. Primo Water’s dividend payout ratio is presently 22.78%.

Institutional Investors Weigh In On Primo Water

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. increased its stake in Primo Water by 52.1% during the third quarter. Blue Trust Inc. now owns 1,871 shares of the company’s stock worth $47,000 after acquiring an additional 641 shares during the last quarter. CWM LLC increased its stake in Primo Water by 31.5% during the third quarter. CWM LLC now owns 3,310 shares of the company’s stock worth $84,000 after acquiring an additional 792 shares during the last quarter. Natixis Advisors LLC increased its stake in Primo Water by 3.6% during the third quarter. Natixis Advisors LLC now owns 24,401 shares of the company’s stock worth $616,000 after acquiring an additional 852 shares during the last quarter. GAMMA Investing LLC increased its stake in Primo Water by 375.9% during the third quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock worth $31,000 after acquiring an additional 981 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Primo Water by 3.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,744 shares of the company’s stock worth $781,000 after acquiring an additional 1,307 shares during the last quarter. Institutional investors and hedge funds 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.